Howden Re, the global reinsurance, capital markets, and strategic advisory arm of Howden Group, has announced that it has secured a full reinsurance license from the Dubai Financial Services Authority (DFSA) to operate from Dubai International Financial Centre, the leading global financial centre in the Middle East, Africa and South Asia region.

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced the opening of a new office in Miami from 1 September 2024 to strengthen its Latin America and Caribbean business and continue to support the market’s sustainable and profitable growth in the Americas. Latin America and Caribbean is an important and fast-growing area for Lloyd's, accounting for 4.6% of gross written premium (USD $2.7bn) in 2023.

As risk awareness and demand for re/insurance is increasing, Swiss Re highlights the importance of improved underwriting data, enhanced modelling and rebalancing of the insurance value chain for a sustainable reinsurance market. Swiss Re remains committed to engaging with primary insurers to anticipate and manage risk, respond to catastrophic events and help them grow in an uncertain world.

Hurricane Ian and other extreme weather events such as the winter storms in Europe, flooding in Australia and South Africa as well as hailstorms in France and in the US resulted in an estimated USD 115 billion of natural catastrophe insured losses this year to date, according to Swiss Re Institute.