Insurers draw $78b from reinsurers to settle Hurricane Melissa claims

Insurance companies received a near sixfold increase in reinsurance funds to settle claims arising from Hurricane Melissa, according to the latest data from the Financial Services Commission (FSC), which regulates the sector. “This significant boost was primarily driven by a 472 per cent, or $77.7 billion, rise in reinsurance contract held assets from payouts from reinsurance companies that boosted claims recovery reserve related to the impact of Hurricane Melissa in October 2025,” stated the FSC Insurance Sector Review for the December quarter.