Reinsurance News
Parametric insurance news
Parametric insurance and parametric reinsurance are growth areas for the industry. We cover news on many forms of parametric risk transfer to provides our readers with insights into developments in the re/insurance market related to parametric triggers.
Parametric insurance utilises catastrophe event, weather, or other data parameters to define payout structures and triggers for contracts. It is considered a fast, pre-defined payout system, with payouts coming due when a specific, objective event occurs and a pre-defined parameter is reached, rather than assessing actual physical loss like traditional indemnity insurance.
This archive features our news on the use of parametric triggers to structure insurance or reinsurance protection, as well as discussion on the benefits of parametric triggers as transparent, fast-paying trigger mechanisms for providing parametric insurance and reinsurance coverage.
Humanity Insured brings parametric insurance to Cambodian farmers facing extreme heat
27th November 2025
Humanity Insured, a UK- and US-registered non-profit organisation, has announced a partnership with ARISE to deliver parametric insurance and digital advisory services to support smallholder farmers in Cambodia facing extreme heat. Humanity Insured is a UK- and US-registered charity backed by the insurance industry, working to make advanced insurance solutions accessible ... Read the full article
Tower launches parametric Rainfall Response Cover in Fiji
19th November 2025
Auckland, New Zealand–headquartered Tower Insurance has officially launched Rainfall Response Cover in Fiji, its second parametric insurance product, via CelsiusPro’s award-winning White Label Platform. The parametric product is being piloted for the 2025–2026 wet season with support from the UNCDF and Pacific Insurance and Climate Adaptation Programme, and in partnership with ... Read the full article
Swiss Re urges bolder investment in Insurance-Linked Loans to strengthen sovereign disaster resilience
17th November 2025
Swiss Re Public Sector Solutions, the arm of the global reinsurer that works with governments, international institutions, and the broader public sector on risk transfer solutions, has suggested now is the time to invest more boldly in insurance-linked loans. Swiss Re says insurance-linked loans, alongside parametric insurance, catastrophe bonds, and contingent ... Read the full article
Descartes Underwriting adopts mea Platform to power parametric growth
13th November 2025
Descartes Underwriting, a specialist in corporate parametric re/insurance solutions for climate and emerging risks, has adopted mea Platform’s AI products to enhance automation and data orchestration across its underwriting processes. The implementation expands Descartes’ use of AI to deliver faster, more cost-efficient underwriting decisions. This mirrors the speed and precision of ... Read the full article
Willis and Rare launch parametric insurance solution for Philippines’ small-scale fishers
12th November 2025
The Government of the Philippines' Bureau of Fisheries and Aquatic Resources (BFAR) and the Philippine Crop Insurance Corporation (PCIC), have partnered with global conservation organisation Rare and insurance broker Willis, a WTW business, to launch the country’s first parametric insurance solution for small-scale fishers. The partnership insures the livelihoods of 14,200 ... Read the full article
Parametric reinsurance gains momentum as Jamaica sees rapid hurricane payouts
11th November 2025
Willis Re, a specialised reinsurance broker, reports that two parametric risk transfer deals have recently drawn attention after confirming swift payouts to Jamaica. Hurricane Melissa activated the country’s $150 million World Bank sovereign bond, which had notably defaulted after Hurricane Beryl the previous year. At the same time, the Caribbean Catastrophe ... Read the full article
Jamaica gets additional $21.1m from CCRIF’s excess rainfall parametric policy for Melissa
7th November 2025
The government of Jamaica is set to receive a second payout of USD 21.1 million following the passage of Hurricane Melissa, which has triggered the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company’s (CCRIF SPC) excess rainfall parametric insurance policy. On October 31st, 2025, the CCRIF SPC announced a record payout ... Read the full article
GILC report reveals rising catastrophe costs and insurance innovations to close protection gap
7th November 2025
Global Insurance Law Connect (GILC), an international network of law firms specialising in insurance and reinsurance, has published its inaugural Property Catastrophe and Climate Governance Report, drawing on contributions from 23 member firms worldwide. The report examines the evolving landscape of natural catastrophe risks, the pressures facing property owners and insurers, ... Read the full article
There’s an opportunity to bring fresh parametric capacity to Asia: Qin, Descartes
6th November 2025
Descartes Underwriting, the specialist in corporate parametric solutions, sees a growing opportunity to bring fresh, sustainable parametric capacity to Asia, particularly within frequency layers where insurers are facing higher retentions, according to Ben Qin, Head of Asia Pacific. In an interview with Reinsurance News around the Singapore International Reinsurance Conference (SIRC), ... Read the full article
Jamaica to receive record $70.8m CCRIF parametric payout for Hurricane Melissa
3rd November 2025
The government of Jamaica is set to receive a record payout of USD 70.8 million (J$11.4 billion) following the passage of Hurricane Melissa, under the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) parametric insurance model. This marks the largest single payout in CCRIF’s history. It is subject to ... Read the full article
Mozambique receives $2m parametric payout for drought protection from ARC
27th October 2025
Mozambique has received a $2 million parametric insurance payout for drought protection covering the 2025–2026 agricultural season, marking the country’s third consecutive year of coverage under the African Development Bank’s disaster risk financing programme. The payout was announced during the 2025 Climate and Disaster Risk Financing Forum (CDRFI), held from October ... Read the full article
Gallagher creates India parametric pandemic policy reinsured by Munich Re
20th October 2025
Insurance and reinsurance broker Gallagher has structured and placed a tailored risk solution for the Indian market, with The Phoenix Mills Ltd. becoming the first insured in India to be covered against business interruption losses as a result of pandemic or epidemic outbreaks based on parametric triggers. New India Assurance, India's ... Read the full article
ARC makes $5.4m parametric payout to support Mozambique’s climate disaster response
20th October 2025
In response to recent climate disasters, the 2024/25 drought and Tropical Cyclone Chido, the African Risk Capacity (ARC) Group made a combined parametric insurance payout of $5.4 million to the Government of the Republic of Mozambique and the World Food Programme (WFP). The Government of Mozambique received just over $1.8 million ... Read the full article
Parametric re/insurer NormanMax appoints Nick Griffiths as Chief Revenue Officer
9th October 2025
US based parametric insurer and reinsurer, NormanMax Insurance Holdings, has appointed experienced reinsurance and retrocession broker, Nick Griffiths, as its new Chief Revenue Officer. As reported by our sister publication, Artemis, Griffiths will work across all of NormanMax's platforms, bringing his more than 27 years of industry experience to the firm ... Read the full article
WTW introduces parametric policy triggered by red weather warnings
2nd October 2025
Willis, a WTW business, has launched a first-of-its-kind parametric policy that triggers automatically when a Red Weather Warning is issued by the UK Met Office or Met Éireann, the Irish National Meteorological Service. The policy was developed in collaboration with Swiss Re Corporate Solutions, which will act as the insurer. Red Weather ... Read the full article
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