Demex
Modeled-loss reinsurance for non-catastrophic secondary weather perils
Overview
Demex is a weather reinsurance MGA that structures and places modeled-loss reinsurance programs for non-catastrophic secondary weather perils, distributing through wholesale reinsurance brokerage firms. Founded in 2020 and headquartered in New York, the company addresses the protection gap created by severe convective storms, winter storms, and other frequent weather events that fall outside traditional catastrophe reinsurance towers.
The company underwrites reinsurance on a modeled-loss basis using proprietary climate risk models to quantify expected losses. Capacity for the 2026 season exceeded USD 500 million, sourced from a panel of reinsurers. Distribution runs exclusively through established wholesale reinsurance brokerage partners including Howden, Guy Carpenter, Acrisure, Gallagher Re, and BMS.
Demex has raised USD 28.4 million across four funding rounds, most recently closing a USD 10.25 million Series A in August 2024 led by Congruent Ventures. Edward Byrns, the company founder, became CEO in December 2024. In 2025, USD 75 million in SCS Re coverage was placed, while total industry SCS losses reached USD 54 billion.
Products & Services
Severe Convective Storm Reinsurance (SCS Re)
Modeled-loss reinsurance protecting insurance carriers against losses from severe convective storm events including tornadoes, hailstorms, derechos, and straight-line winds.
Key Features
- Modeled-loss trigger basis -- no claims adjustment required
- USD 500M+ in reinsurer capacity secured for 2026
- USD 75M in coverage placed in 2025
Target Users: Regional, mutual, and national insurance carriers with concentrated SCS exposure
Distribution: Wholesale reinsurance brokers
Winter Storm Reinsurance (WS Re)
Reinsurance coverage for winter weather perils including extreme cold and ice events.
Key Features
- Extends modeled-loss approach to winter perils
- Protects against cumulative non-headline winter weather losses
Target Users: Insurance carriers with winter storm exposure
Distribution: Wholesale reinsurance brokers
Retained Climate Risk Reinsurance (RCR Re)
The foundational modeled-loss reinsurance product for non-catastrophic weather losses across multiple secondary perils.
Key Features
- Covers tornadoes, hailstorms, derechos, thunderstorms, straight-line winds, extreme cold, inland flooding, and extreme heat
- Actuarially modeled -- enables data-driven program structuring
Target Users: Carriers seeking protection against the aggregated impact of frequent but non-headline weather events
Distribution: Wholesale reinsurance brokers
At a Glance
- Founded
- 2020
- Headquarters
- New York, New York, USA
- Employees
- 11-50
Category & Focus
- Category
- Reinsurance Technology
- Insurance Verticals
- Reinsurance P&C Commercial P&C Personal
- Target Customers
- Carriers
Links
Last updated: 2026-05-17