22 April 2026 / 6 min read
Catastrophe analytics team - Global RE Risk Science
A busy quarter for attritional catastrophe loss
The quarter reinforced how quickly mid-sized events can accumulate. European windstorm loss and US severe convective storm activity both produced broad claims activity without a single market-defining event.
For reinsurers, the issue is how these events interact with attachment, hours clauses, and aggregate erosion across the treaty year.
Claims information still arrives unevenly
Early loss notices often understate business interruption, demand surge, and reopened claims. Global RE therefore tracks reported loss, expected ultimate loss, and exposure-based reasonableness separately.
Programmes with strong event coding and location-level claims reporting allow a faster and more confident reserving response.
What changes for renewals
Cedants with visible mitigation work, tighter data, and a practical explanation of loss drivers are better placed to defend structure and pricing.
Where losses reveal unmanaged concentration, the renewal discussion should start with retention, wording, and accumulation controls rather than price alone.