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Q1'25 insured losses hit $56bn, driven by LA wildfires: Gallagher Re

2 days ago | artemis.bm | Jack Willard

Reinsurance broker Gallagher Re has estimated that preliminary total insured catastrophe losses for the first quarter of 2025 reached $56 billion, which makes it the costliest first quarter for the private insurance market and government-sponsored insurance entities since 2011, and 176% higher than the Q1 decadal average of $20 billion (2015–2024).
California wildfires drive Q1 insured cat losses of at least $53bn: Aon

2 days ago | artemis.bm | Jack Willard

According to broker Aon’s Q1 Global Catastrophe Recap, insured losses in the opening quarter of 2025 exceeded $53 billion, well above the 21st-century Q1 average of $17 billion, marking the second-highest total on record after Q1 2011. Aon’s report notes that the California wildfires contributed approximately $38 billion, or 71% towards this insured loss total.
Navigate Re launched with Polo support to deliver life/annuity insurance-linked returns

1 week ago | artemis.bm | Steve Evans

A new Guernsey based life and annuity focused reinsurance company named Navigate Re has been launched with Polo Insurance Managers (PIM) assistance, the goal being to channel insurance-linked returns to investors through a vehicle sponsored by alternative asset manager Erithmitic.
Great American lifts Riverfront Re 2025 cat bond target to up to $350m

1 week ago | artemis.bm | Luke Gallin

Great American Insurance Group is now targeting between $300 million and $350 million in multi-peril collateralized reinsurance through its Riverfront Re Ltd. (Series 2025-1) transaction, so likely to be its largest catastrophe bond issuance yet, while price spread guidance has been updated for the tranches of notes, Artemis has learned.
Louisiana Citizens targets its largest cat bond with $280m Bayou Re 2025-1 as price guidance narrows

1 week ago | artemis.bm | Luke Gallin

Louisiana Citizens Property Insurance Corporation, a non-profit residential and commercial property insurer for those unable to access private market insurance in the state, is now targeting $280 million of collateralized named storm reinsurance from its Bayou Re Ltd. (Series 2025-1) catastrophe bond issuance, while the spread guidance has narrowed from initial guidance, Artemis has learned. Bayou Re Ltd.
Parametric regional risk pools get Global Shield support to deepen collaboration

1 week ago | artemis.bm | Steve Evans

The main four parametric disaster insurance risk pools have signed a grant agreement with the Global Shield Solutions Platform (GSSP) to help them accelerate and deepen their collaboration, something which could have implications for how they transfer risk to reinsurance and potentially capital markets.
Reinsurance returns still strong, growth a rational view: J.P. Morgan

1 week ago | artemis.bm | Steve Evans

Returns in the reinsurance market are still strong despite softening at recent renewals and this is driving some reinsurers to seek out growth while the opportunity remains, which analysts at J.P. Morgan call a rational view. Traditional reinsurance firms have been building their reserve buffers through the hard market for just such an eventuality, a recent analyst report from J.P. Morgan implies.
PERILS adds severe convective storm to 2025 IED as exposure growth persists

1 week ago | artemis.bm | Luke Gallin

The 2025 Industry Exposure Database (IED) from Zurich-based catastrophe loss data aggregator, PERILS AG, includes market sums insured for the severe convective storm (SCS) peril for the first time, while exposure growth across all markets continues. The 2025 PERILS IED includes markets sums insured exposed to natural perils for 21 countries, containing 67 individual market portfolios.
Rochdale ILW & cat bond fund returns 11.77% with only modest catastrophe impacts

1 week ago | artemis.bm | Jack Willard

The City National Rochdale Select Strategies Fund, a mutual insurance-linked securities (ILS) strategy focused on industry loss warranties (ILWs) and catastrophe bonds, delivered a net return of 11.77% for the year ended January 31, 2025. While down from the 15.58% return recorded the previous year, 2024’s performance still marked a second consecutive year of strong, above-average gains for the interval-style fund.
Travelers says 77% of its $1.7bn LA wildfire losses came from Palisades fire

1 week ago | artemis.bm | Steve Evans

US primary insurer Travelers has disclosed in its first-quarter results today that it estimates 77% of its overall just over $1.7 billion of net losses from the Los Angeles, California wildfires in January came from the Palisades blaze. Previously, Travelers said in February it expected its losses from the wildfires would be around $1.7 billion before-tax ($1.3 billion after-tax) and net of reinsurance recoveries.