Winter Storm Fern Insured Losses Seen at $4–7 bn, No P&C Insurer Downgrades
Fitch estimates Winter Storm Fern insured losses at $4-7 bn. Losses hit earnings, not capital, with P&C insurers absorbing most claims and no rating downgrades
Insurance-Linked Securities
Insurance-Linked Securities (ILS) — financial instruments whose values are driven by insurance loss events. Those such instruments that are linked to property losses due to natural catastrophes represent a unique asset class, the return from which is uncorrelated with that of the general financial market.
Insurance companies are two important ways insurers profit in this business.
One is by selling portfolios of insurance policies grouped into packages, to interested investors. The risk from low severity, high probability events can be diversified by writing a large number of similar policies. This reduces an insurer’s risk because should a policy default, then the loss is shared between a large number of investors.
The second way insurers profit on policies is by re-insuring them through other insurers. A reinsurance policy would allow a second insurer to share in the gain and potential loss of the policy, much like an investor. The secondary insurer would share invested interest and risk.
2025 Atlantic Hurricane Season Shows Intensity Risk Despite no US Landfalls
The 2025 Atlantic season had no US hurricane landfalls yet delivered Category 5 storms, inland flooding, and losses, highlighting rising intensity and protection gaps
Asia’s ILS Market Needs Investor Familiarity Before Real Scale Arrives
Singapore expands ILS grants as Asia’s cat bond market grows, but investor education, capacity gaps and regulatory momentum still shape the asset class
Climate Disasters Expose Huge Protection Gap as Insurance Remains Underused
Hurricane Melissa and Asian floods show insurance’s role in adaptation, yet coverage is scarce. Philanthropy, bundling and aggregation could shift that
Insurance-Linked Securities Insights. ILS Market Hits $17 bn Issuance in H1 2025
H1 2025 has reinforced Insurance-Linked Securities as one of the most resilient corners of the capital markets. Notional issuance has already topped $17bn across 60 deals
US Hurricanes Since 2015: Economic Impact, Insured Losses & Risk Analysis
Explore major US hurricanes since 2015, their economic and insured losses, and how storms reshape insurance, risk modeling, and disaster resilience
Hurricane Katrina’s $100 bn Legacy Still Shapes Insurers 20 Years On
Hurricane Katrina struck Louisiana on 2005. Katrina generated $104.5bn in insured losses, according to the Insurance Information Institute
Reinsurance Market Strengthens in 2025 as Capital Inflows Grow
The global reinsurance sector has undergone a notable transformation since the market reset, drawing sustained attention from investors and analysts
Global Natural Catastrophe Insured Losses Review. New Trends in H1 2025
Global insured losses from natural catastrophes reach $80 bn in the first half of 2025. This is almost double the 10-year average and more than half of the $150 bn
Most Severe Natural Disasters in H1 2025. Regional Overview
Worldwide, natural disasters caused overall losses of around $131 bn in the first half of 2025 (previous year, adjusted for inflation: $155 bn), of which $80bn was insured (in 2024: $64 bn)
California Approves First Wildfire Risk Model for Insurance Pricing
The California Department of Insurance (CDI) has finalized its review of the state’s first approved wildfire catastrophe model
UK ILS & Captive Insurance Reform Won’t Affect Insurer Credit Quality in Near Term
UK’s proposed reforms to insurance risk transformation and captive insurance will not affect the credit quality of London market insurers ahead of the 2027 implementation
Kentucky Storms Reshape the U.S. Home Insurance Market
Severe weather in Kentucky drives up insurance rates, strains carriers, and prompts regulatory changes as tornadoes and hailstorms increase in frequency and cost
California’s Insurance Market Crisis: Risk-Based Pricing & Data Gaps
California’s Insurance Market: The Case for Risk-Based Pricing and Data-Driven Mitigatio. California’s insurance availability/affordability challenges
2025 Natural Catastrophes Drive Record-High Economic and Insured Losses
Global insured losses from natural disaster events in Q1 2025 were preliminarily estimated to reach at least $53 bn, the highest Q1 insured losses since Q1 2011 ($81 bn)
Bermuda (Re)Insurers Face Margin Pressure but Maintain Strong Returns in 2025
Global reinsurers’ profitability will remain strong in 2025 despite lower risk-adjusted prices for most business lines when reinsurance contracts
Insurance-Linked Securities Market in 2025 Hits New Record as Investor Interest Grows
The insurance-linked securities (ILS) market hit $107 bn in capacity by the end of 2024, driven by strong investor returns and increased catastrophe bond issuance
WTW’s Natural Catastrophe Review: 2024 Key Data Insights and Trends
WTW has analyzed natural disasters, key lessons, and emerging trends. The assessment will focus on physical and vulnerability NatCat factors
Insured Catastrophe Losses in Canada Surge to C$8.5 bn, Tripling in 2024
Insured catastrophe losses in Canada reached a record C$8.5 bn in 2024, nearly tripling the prior year’s total and standing 12 times higher than the annual average
Global Natural Catastrophe Overview: Economic & Insured Losses for 2024 FY
In 2024, global natural perils resulted in total direct economic costs of $417 bn. Of this, $154 bn was covered by private insurers and public insurance entities
Hurricanes, Severe Thunderstorms and Floods Drive $100 bn Insured Losses
In the US, two major hurricanes and frequent severe thunderstorms accounted for at least two-thirds of the year’s global insured losses, which currently exceed $135 bn
European System for Natural Catastrophe Risk Management & Re/Insurance
Economic losses from natural catastrophes in the EU are rising due to increased economic exposure and the growing severity of climate-related disasters
Comparing Europe’s Approaches to Natural Catastrophe Insurance & Gov-Backed Schemes
Government-backed catastrophe insurance schemes play a vital role in managing the financial impact of natural disasters across Europe
2024 Atlantic Hurricane Season Marked a Year of Substantial Insured Losses in the U.S.
The 2024 Atlantic hurricane season ended on November 30, marking a year of above-average storm activity and substantial insured losses in the U.S.
Southern Germany Floods Caused up to $2 bn Insurance Loss from 2024
PERILS has released its third insurance industry loss estimate for the floods that hit southern Germany from May 31 to June 6, 2024
Catastrophic Losses & Rising Global Flood Insurance Risks: $135 bn in 2024
2024 is on track to become the hottest year recorded. A warming climate has intensified natural catastrophes, especially in Europe, which faced severe flooding
Flood Risk Creates Credit Challenges for Eastern & Southern US Insurers
Hurricane Helene’s recent destruction underscores the rising flood risk impacting local economies and tax bases in the Eastern and Southern United States
APRA’s Proposed Reinsurance Reforms: Impact on Australian Insurers’ Credit Profiles
Changes to reinsurance-related capital requirements proposed by the Australian Prudential Regulation Authority strengthen Australian general insurers’ credit profiles
ILS & Catastrophe Bond Market Expands with Record Issuances & Cyber Risk Inclusion
Catastrophe bond issuance set records in three of the past four quarters, pushing the market to $45.6 bn—an 18% rise
Q3 2024 Global Catastrophe Report: Top 5 Costliest Economic & Insured Loss Events
Q3 2024 saw a number of significant disaster events, which drove total economic losses from natural catastrophes above at least $258 bn
Hurricane Milton Economic and Insurance Loss Forecast: Impact on Re/Insurers
Economic and insured losses from Hurricane Milton remain uncertain, Milton is the second major storm to hit the U.S. within two weeks, following Hurricane Helene
Hurricane Milton Triggers Major Losses for Insurers and Reinsurers
Hurricane Milton is anticipated to be one of the most powerful and economically detrimental hurricanes to make landfall in the western region of Florida
ILS Market & Alternative Reinsurance Capital: Poised for Continued Growth
ILS market remains a significant capital source for reinsurers in 2024. Alternative capital estemated at $110 bn, with the catastrophe bond market growing to $45 bn
Rising Demand for Property Re/Insurance Amid Increasing Risks & Costs
Higher property values, urbanization, and increased repair costs are likely to drive demand for property re/insurance, particularly in regions facing heightened natural catastrophe
Global Natural Disaster Losses in H1 2024 Reached $120 bn
Global natural disaster losses in the first half of 2024 reached $120 bn, down from 2023, which saw $140 bn in losses due to a severe earthquake in Turkey and Syria
2024 Reinsurance Renewals Come Amid Growing Reinsurer Appetite
The mid-year reinsurance renewals occurred against a continued increase in reinsurer appetite as overall reinsurance capacity grew
Major Natural Disasters in H1 2024: Insights for Insurance Industry
Natural disasters amplified by climate change continue to take a bitter toll on the global economy, caused $350 bn in economic losses, with insurance covering just over $100 bn
H1 2024 Global Natural Catastrophe Statistics: Economic & Insurance Losses
1H 2024 saw multiple notable natural catastrophe events, which drove total year-to-date economic losses above at least $117 bn
US Severe Convective Storm: Costliest Insured Loss in 2024
Severe convective storm (SCS) losses in the US continued to dominate global insured losses in 2024, following a highly active period for the peril
Insurance Industry Faces Challenges as Atlantic Hurricane Season Begins
The 2024 Atlantic hurricane season officially began and has already been active. Business owners found that 91% identified specific weather or natural hazards as risk
2024 Global Natural Catastrophes. Top 10 Costliest Insured Events
The total economic loss from global natural catastrophes for H1 2024 was estimated at $128 bn, insured losses totalled at $61 bn
Hurricane Beryl’s Impact on Insurance Industry: Loss Forecasts
Insured losses from Hurricane Berylcould have surged if the Category 1 hurricane had struck a densely populated Texas city like Corpus Christi or Galveston
Primary & Secondary ILS Market Quarterly Review
Insurance-Linked Securities Overview. Insurers and reinsurers leveraged alternative capital in 2023 more than any year in the history of the (re)insurance market
Global Natural Catastrophe Report: Q1 2024 Insurance Insights
The global financial cost of natural catastrophes starting in 2024 was manageable for federal governments and the insurance industry
Natural Catastrophes Will Break Several Insured Losses Records
Natural catastrophes will once again break several insured loss records in 2023. A high number of low-to-medium-severity events will aggregate to insured losses
Global Natural Catastrophes: Fatality, Economic & Insured Loss
2023-2024 saw multiple significant disaster events, which drove total economic losses above $295 bn, approaching the 21st-century average of $310 bn
Insured Losses from Convective Storms in the U.S. exceedes $50 bn
The U.S. is experiencing its costliest year ever in 2023 for severe convective storms, with insured losses from these events exceeding $50 bn
Global Re/Insurance Industry Faces in Catastrophe Losses
Verisk report: Global Modeled Catastrophe Losses. The current challenges the global reinsurance industry faces in addressing recent catastrophe losses
North Atlantic & Western North Pacific Hurricane Season’s Impact for Re/Insurers
Moody’s RMS overview of North Atlantic seasonal activity forecasts and summarized the key oceanic and meteorological drivers behind the predictions
U.S. Flood Insurance Market Review. Top 10 Flood Insurers
The U.S. flood insurance market had grown 24% – from $3.3 bn in direct premiums written to $4.1 bn between 2016 and 2022
Natural Disaster Trends. Top 10 Costliest Economic & Insured Loss Events
Most natural disaster databases show a significant decline in the number of annual global events prior to 1980. While the biggest natural catastrophe events are typically captured
Severe Thunderstorms the Main Driver for Insured NatCat losses
A series of widespread thunderstorms (severe convective storms) hit the US and account for 68% of global insured natural catastrophe losses
Global Natural Disasters Figures: $100 bn Insured Losses
2024 is a continuation of the recent run of years with high losses from natural disaster. While the overall losses of $120bn in 2023 were lower than those in 2022
U.S. Insured Losses from Hurricanes Have Risen over the 15 Years
Insured losses from hurricanes have risen over the past 15 years as hurricane activity has intensified
Reinsurance Rates for U.S. & Florida NatCat Policies: Renewal Trends
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July renewal date, with states such as California and Florida increasingly hit
Reinsurance Market is a Critical Part of Florida’s Insurance System
Reinsurance market — a critical piece of Florida’s property-insurance system — is improving as Florida insurers try to bounce back
Major Natural Disaster Eventsand Insurance Loss Insights in APAC Regions
Catastrophes and natural disasters in the Asia Pacific (APAC) region amounted to a total economic loss of $80 bn. A substantial protection gap of 86%
Main Factors of the Increase in Insurance Losses from Natural Disasters
When considering weather-related catastrophes, few perils have generated as many column inches in recent months as severe convective storms (SCS)
Insured Losses from Major Natural Catastrophes in H1 2023 Estimated $23 bn
Insured losses from major natural catastrophes in the second quarter of 2023 are estimated to be less than $10 bn, in H1 totaled $23 bn
TOP 20 Costliest U.S. Hurricanes. Losses Will Increase by 10% over 20 Years
Aon’s work with Columbia University has revealed that under selected scenarios, U.S. hurricane losses would increase by at least 10% over 20 years
Fitch estimates Winter Storm Fern insured losses at $4-7 bn. Losses hit earnings, not capital, with P&C insurers absorbing most claims and no rating downgrades
The 2025 Atlantic season had no US hurricane landfalls yet delivered Category 5 storms, inland flooding, and losses, highlighting rising intensity and protection gaps
As companies reshore and expand US operations to offset tariffs, Allianz warns boards face rising litigation, class action costs and heightened D&O liability risks
Triple-I and Milliman forecast the US P&C industry’s lowest net combined ratio in more than 10 years for 2025, helped by a quiet hurricane season
