Howden Re partners with Reask to advance European climate risk and subsidence modelling

Howden Re is pleased to announce that they have entered a partnership with Reask, a leading provider of climate-driven modelling solutions. The partnership will focus on enhancing insurers’ ability to assess and manage the growing impact of emerging perils in the UK and France.

The partnership comes as insurers across Europe are under growing pressure from climate-driven losses. In recent years, cedents have been increasingly exposed to weather-driven volatility, with historically elevated retention levels amplifying the impact of events. From the severe winter weather in the UK and Ireland in December 2022 to subsidence events in the UK and France in 2018 and 2022, such events have frequently driven double-digit loss ratio impacts for personal lines carriers, pressures that have been compounded by historically high retention levels.

To address this challenge, Howden Re has developed a suite of emerging peril models in Europe. By virtue of this partnership, allied to in-house development by Howden Re experts, this facilitates the estimation of current and future climate-conditioned loss impacts. By partnering with Reask, Howden Re is able to integrate advanced climate data and subsidence modelling with local meteorological institute data, creating a more forward-looking and accurate representation of risk compared to traditional statistical approaches.

The outputs from these models also support Howden Re’s parametric and aggregate reinsurance solutions, enabling clients to secure earnings protection against these increasingly volatile perils and attract third-party capacity into the market.

Jamie Rodney, CEO of Reask, commented: “European cedents are seeking new ways to better price and respond to emerging perils for their clients. By combining our climate-driven modelling expertise with Howden Re’s innovative approach to emerging perils, we can deliver deeper insights into risks like subsidence and severe weather across Europe. This partnership is about equipping insurers with the forward-looking tools they need to manage volatility, protect earnings, and build long-term resilience for their clients.”

Tim Edwards, Head of International Analytics at Howden Re, added: “These models enable our clients to benefit from innovative techniques that better reflect their true exposure. We already see that they can help attract new capacity to protect cedents against the volatility created by climate-driven weather and subsidence events. We look forward to partnering with Reask and continuing to bring innovative solutions to the market.”

Howden Re and Reask’s collaboration highlight a broader shift: as climate risk intensifies, modelling innovation is becoming central to how insurers and reinsurers navigate volatility and secure long-term resilience.