Reinsurance News
Climate change news
News on climate change and how it affects the global insurance and reinsurance industry.
Re/insurer profits at risk from climate-driven health impacts without adaptation: WEF
18th September 2025
According to a new report from the World Economic Forum, developed in collaboration with Boston Consulting Group (BCG), without adaptive action, climate-driven health impacts could erode insurer profitability and push coverage costs higher for consumers across markets. The new report, which assessed climate-driven health impacts across four of the most affected ... Read the full article
Zurich expands Climate Spotlight to Asia Pacific
12th September 2025
Zurich Resilience Solutions (ZRS), the commercial risk advisory unit of Zurich Insurance Group, has expanded its comprehensive climate resilience offerings, Climate Spotlight, to Asia Pacific. This advanced climate risk analysis tool supports smarter decisions and long-term resilience for clients. This launch underscores Zurich's global commitment to supporting customers through the climate transition, ... Read the full article
Secondary perils a “big opportunity for the reinsurance market,” says Karen Clark
5th September 2025
Advancements in risk modelling offer a big opportunity for the reinsurance market to better understand and price secondary perils, the co-founder and CEO of Karen Clark & Company (KCC), Karen Clark, shared in a recent interview with Reinsurance News ahead of the annual meeting of the reinsurance industry in Monte ... Read the full article
Planette’s quantum-inspired forecasting system to improve extreme weather prediction
5th September 2025
In a move to combat the growing challenges of extreme weather, the U.S. National Aeronautics and Space Administration (NASA) has chosen Planette, a long-range weather prediction technology company, to develop QubitCast, a next-generation forecasting system. This new system aims to provide more accurate and timely predictions for extreme events like heavy ... Read the full article
African Development Bank approves $30m for climate resilience in Benin
29th July 2025
The African Development Bank Group (AfDB) has approved $30.25 million in financing for a program aimed at bolstering climate protection and agricultural sector resilience in Benin, West Africa. This investment will help 150,000 smallholder farmers, particularly in the vulnerable northern regions, to mitigate the devastating effects of droughts and floods on ... Read the full article
SCOR unveils NatReCo Initiative to drive nature-positive re/insurance solutions
11th June 2025
SCOR has launched the NatReCo Initiative to offer clients re/insurance solutions supporting nature-positive projects that address societal challenges such as climate change, health and wellbeing, food and water security, sustainable agriculture, and natural catastrophe risk. The French reinsurer suggested that it strives to optimise its impact on nature and people by ... Read the full article
Brazil faces intensifying climate risks as insurance sector adapts to shifting weather patterns: Howden Re
8th May 2025
Howden Re, the reinsurance and strategic advisory division of Howden, has launched its fourth edition of the Brazil and Global Climate Impacts report, created in collaboration with MeteoIA, a climate analytics firm. This latest report provides an in-depth look at Brazil’s changing climate patterns, offering a review of the last quarter’s ... Read the full article
BoE updated supervisory expectations to strengthen climate risk management for insurers
6th May 2025
As economic and insurance exposures in high-risk regions are likely to increase with climate change, impacting banks’ and insurers’ ability to support clients, the Bank of England has updated its supervisory expectations to help guide these firms in managing climate-related financial risks. In recent years, the world has faced a number ... Read the full article
REPAIR programme supports Mozambique’s cyclone recovery
14th April 2025
The Regional Emergency Preparedness and Inclusive Access to Recovery (REPAIR) programme, a collaborative initiative led by the World Bank, supported by the Global Shield Financing Facility (GSFF), and implemented by ARC Ltd., an affiliate of the African Risk Capacity Group, has demonstrated the crucial role of swift disaster response. Just two ... Read the full article
Global insurers face rising regulatory costs due to climate change and AI challenges, Fitch says
4th April 2025
Fitch Ratings, a provider of credit ratings, commentary, and research, has highlighted in a new report that global insurers are facing rising regulatory costs driven by structural changes in the life insurance sector, climate change, and the growing role of artificial intelligence (AI), as industry regulators intensify their response to ... Read the full article
WTW partners with KIT and NASA to enhance hail risk modelling
6th March 2025
WTW, an advisory, broking, and solutions company, has announced the continuation of its long-standing collaboration with the Karlsruhe Institute of Technology (KIT), alongside NASA’s Disasters Program and the NASA Langley Research Center. The partnership will focus on advancing the understanding and modelling of hail risk, leveraging more than a decade of ... Read the full article
Public-private reinsurance scheme could benefit EU markets as climate change intensifies: Fitch
7th February 2025
Global ratings agency Fitch Ratings believes that insurance markets across the European Union (EU) could benefit if recent proposals to establish a bloc-wide public-private reinsurance scheme for climate-related losses moves forward. For background, the proposals were published in a joint paper by the ECB and the European Insurance and Occupational Pensions ... Read the full article
2024 climate disasters cause billions in losses highlighting urgent need for action: Christian Aid
31st December 2024
The year 2024 saw several extreme climate disasters that resulted in billions of dollars in insured losses, underscoring the urgent need to reduce carbon emissions, accelerate the transition to renewable energy, and provide funding for vulnerable populations, according to Christian Aid. In its latest report, Christian Aid identified the 10 most ... Read the full article
Norway provides $4.5m to ARC’s SACPIP-Africa to strengthen climate resilience
16th December 2024
Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative. The partnership was formalised during a signing ceremony at the CARICOM Pavilion at COP29 on ... Read the full article
Critical role of risk financing and insurance in disaster response: Bavandi, Gallagher Re
13th December 2024
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from COP 29 in Baku. He noted that effective private-sector strategies include risk pooling, public-private partnerships, parametric ... Read the full article
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