insurance

The BT Pension Scheme (BTPS), one of the UK’s largest private sector pensions, has completed two longevity swap transactions, a £5 billion agreement with global reinsurer Swiss Re, and a £5 billion transaction with Reinsurance Group of America (RGA).

Reinsurance broker Gallagher Re has reported that it estimates the March 13th to 16th severe convective storm (SCS) and tornado outbreak in the United States will be the costliest severe weather event of 2025 so far, with an estimate for insurance industry losses of up to $3 billion.

Highlighting achievements from 2024 when $1.92 billion of capital was deployed through the Lloyd’s insurance-linked securities (ILS) structure, Deputy CFO Alexandra Cliff said today that the pipeline for the London Bridge platform remains healthy.

Catastrophe data aggregator PERILS has now raised its insurance industry loss estimate for the severe flooding experienced across parts of Central Europe and Italy in September 2024 due to storm Boris, increasing the total by 5% to €2.19 billion.

In reporting its full-year results for 2024 this morning, the Lloyd’s insurance and reinsurance market delivered positive returns across both underwriting and investments, while despite a more than doubling of the major claims ratio during the year, still saw the underlying combined ratio come down.

Reask, the catastrophe modelling, climate analytics and data specialist, has announced that it has appointed Moody’s Joss Matthewman as its new Chief Revenue Officer, to help support the company’s next phase of growth.

2025 is shaping to be another strong year for catastrophe bond and insurance-linked securities (ILS) issuance following record growth seen across the market last year, despite the fallout from the Los Angeles wildfires in January, says global ratings agency AM Best.

The growing demand for cyber insurance is driving increased interest in the cyber insurance-linked securities (ILS) market, with cyber catastrophe bonds emerging as a key tool for risk mitigation, according to a new report from S&P Global Ratings.

Insurance technology veteran Sandra DeSilva has announced the launch of Mythen, an artificial intelligence (AI)-powered parametric insurance platform and reinsurer, based in Bermuda and Texas, that specialises in writing natural catastrophe risks.

An outbreak of severe and convective weather across the US Midwest and South looks set to be costly for the insurance and reinsurance industry as tornadoes, large hail, strong winds, dust storms, wildfires and flooding all turned deadly over the weekend.