insurance

Reinsurance firm Munich Re has estimated that global insured losses from natural catastrophe events reached US $80 billion in the first-half of 2025, a figure some 95% above the 10-year average.

Catastrophe data aggregator PERILS has increased its insurance industry loss estimate for extratropical windstorm “Éowyn”, a storm that impacted the Republic of Ireland, Northern Ireland and the Central Belt of Scotland in early 2025, adding 7% to take the estimate to EUR 747 million.

Insurance industry losses from the wildfires that impacted the Municipality of Jasper and Jasper National Park in Alberta, Canada between July 22 and August 17, 2024 are estimated to have reached CAD $1.31 billion, according to CatIQ, Canada’s insured loss and exposure indices provider.

Speaking during a second-quarter earnings call today, Kevin O’Donnell, CEO of Bermuda based underwriter and third-party reinsurance capital manager RenaissanceRe, said that he doesn’t see issues with capital wanting to enter the sector regardless of return.

Everest Group, the global insurance and reinsurance specialist, has appointed Jill Beggs to Executive Vice President (EVP) and Chief Executive Officer (CEO) of Reinsurance, a promotion from her previous role as Chief Operating Officer (COO) of the company’s reinsurance arm.

RenaissanceRe, the Bermuda headquartered reinsurance company and third-party capital manager, has reported that its Capital Partners business generated record fee income from its range of joint ventures and insurance-linked securities (ILS) funds in the second-quarter of 2025, while profits shared with investors in the vehicles also rose to one of its highest levels ever.

Signalling a continuation of more equitable sharing of major loss activity between the insurance and reinsurance tiers of the market, global player Munich Re has cited “very low major-loss expenditure in property-casualty reinsurance” in Q2 2025, leading it to pre-announce a quarterly result that far exceeds the analyst consensus.

Abundant capacity and increasing competition among reinsurers are leading to softer pricing during the June and July renewals, which supports Fitch Ratings’ expectation that market pressures will persist in affecting prices even after the peak in 2024.

The Insurance Development Forum (IDF) has completed the design of a parametric flood insurance solution for the Lagos State Government in Nigeria as part of the Tripartite Agreement Programme.

Gallagher Re, the global reinsurance broker, on behalf of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF Insurance Company), has structured and placed a parametric re/insurance programme for the government of Lao PDR.