Insurance-linked securities (ILS) are well positioned to meet emerging demand from the ECIS region (Western Balkans, Southern Caucasus, Eastern Europe and Central Asia), although certain challenges must be addressed in order to stimulate issuance, according to global catastrophe risk modeller, RMS.
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Insurance carriers reviewed by Demotech all have the capital and reinsurance backing that is required for them to respond to claims in the wake of hurricane Michael, a storm that may have caused as much as $15 billion to $20 billion of insured losses according to the firm.
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Typhoon Jebi’s impacts in Japan were always going to be a catastrophe loss event that would drive a modest amount of claims to some ILS funds and collateralised reinsurance vehicles, but with estimates rising for the industry impact, the expectation of ILS market losses is increasing as well.
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International specialty insurance and reinsurance firm Argo has pre-announced $25 million of losses from third-quarter catastrophe events and given the firms shift towards originating risk for third-party investors it seems some of its capital partners will have taken a share of the firms gross losses.
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Bermuda headquartered reinsurance and insurance firm Everest Re has pre-announced an estimate for third-quarter catastrophe losses, saying that it expects events including hurricane Florence, the California wildfires, typhoon Jebi, typhoon Trami and the Japan floods to cost $240 million.
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AIG reports up to $1.7bn Q3 losses, up to $500m for hurricane Michael

October 19, 2018

International insurance giant American International Group (AIG) has continued to pass on a share of its catastrophe losses to its reinsurance panel and looks set to continue doing so through the rest of this year, as its third-quarter loss bill is up to $1.7 billion and Q4 starts with up to $500 million from hurricane […]

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Sidecar activity demonstrated post-loss opportunity: Aon

October 18, 2018

Activity in the collateralized quota share reinsurance sidecar space lifted following the major losses of 2017 and with $2.9 billion of limit secured through sidecar deals in the year to June 30th 2018 Aon notes that this “demonstrates the opportunity that both sponsors and investors see following catastrophe events.”

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Allstate & Travelers Q3 catastrophe losses lower than anticipated

October 18, 2018

Two of the largest U.S. primary insurance companies have surprised analysts with lower than expected catastrophe losses for the month of September 2018, but across the third-quarter as a whole it is Allstate who has experienced the highest loss bill.

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Aurous MGA launches to connect risk with multiple forms of capital

October 18, 2018

Aurous Risk Partners has been launched as a new reinsurance focused managing general agency (MGA) that aims to maximise efficiencies and premium return, by connecting risks with the most suitable capital, including alternative or capital markets sources.

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Prudential transacts another $3.2bn of longevity reinsurance

October 18, 2018

Prudential Retirement, part of Prudential Financial, Inc., says that the UK pension risk transfer market is experiencing healthy growth, as signalled by its closing of a further $3.2 billion of longevity reinsurance deals in recent months.

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TigerRisk hires retro broker Jonathan Hughes from Aon

October 18, 2018

Risk capital advisory and reinsurance broker TigerRisk Partners LLC has announced the hiring of well-known London market retrocession broker Jonathan Hughes from Aon.

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RenRe estimates $155m net impact from Q3 catastrophes

October 18, 2018

RenaissanceRe, the Bermudian reinsurer and third-party reinsurance capital manager, has announced an estimated net negative impact of $155 million from catastrophe events in the third-quarter, which suggests some of these losses will flow to investors in the firms third-party capital vehicles.

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Markel CATCo updates on hurricane Michael & typhoon Jebi exposure

October 18, 2018

Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment specialist, has revealed that its stock exchange listed CATCo Reinsurance Opportunities Fund is exposed to potential losses from hurricane Michael and typhoon Jebi.

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Swiss Re expects $1.4bn Q3 large loss hit after retrocession

October 18, 2018

Global reinsurance company Swiss Re has estimated that its third-quarter 2018 large loss burden will amount to roughly $1.4 billion after retrocession, with natural catastrophes driving the majority and typhoon Jebi the most costly event of the quarter.

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Real-time portfolio optimisation will transform ILS placements, says Ventus

October 17, 2018

Using technology to enable real-time portfolio optimisation will transform the way that ILS and traditional reinsurance placements are made, improving costs and efficiencies and allowing capital providers to get closer to the original risk, according to the team at InsurTech MGU Ventus.

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