A re-pricing of retrocessional reinsurance capacity following the significant losses of the last two years is set to drive higher reinsurance costs over the course of 2019, as reinsurer seek to pass on higher retro prices to insurers, according to Credit Suisse.
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Capital market investors that participate in the insurance-linked securities (ILS) or reinsurance linked investing space are increasingly asking questions about the potential impacts climate change could have on the risk landscape.
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Pacific Gas & Electric Co’s (PG&E) liability insurance tower is still expected to face a total loss in the face of significant claims for wildfire damages, despite the utilities impending bankruptcy status.
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Insured losses caused by hurricane Michael’s impacts in Florida, based on claims paid data collected from insurers by the Florida state insurance regulator, have now risen to over $5 billion, which is a near 25% increase in around six weeks.
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Barbican Insurance Group, the Lloyd’s and London underwriting focused re/insurer that writes business on behalf of some third-party capital investors, has created a new role of Head of Reinsurance within its Syndicate 1955 and announced two other promotions.
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Swiss Re reveals $1.3bn Q4 losses, typhoon loss creep added $320m

January 15, 2019

Global reinsurance firm Swiss Re has reported an expected $1.3 billion major claims burden from natural catastrophe and man-made losses during the fourth-quarter of 2018, but loss creep from Japanese typhoons boosted the tally by $320 million.

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Recent ILS trends suggest another busy year ahead: Estera (Bermuda)

January 14, 2019

The insurance-linked securities (ILS) market continued down its growth path in 2018 with both peril region and product diversification, and, according to Janita Burke and Sherman Taylor of Estera’s Bermuda office, more of the same is expected in the year ahead.

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Variable reinsurance renewal as EMEA pressures market: Guy Carpenter

January 14, 2019

Global property catastrophe reinsurance rates rose just 1.1 % across the market at the key January renewals, but there considerable variation in pricing across region and how loss affected or perceived as under priced an account was, according to Guy Carpenter.

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Kemper to recover up to $35m from reinsurers for Q4 catastrophes

January 14, 2019

U.S. primary insurer Kemper Corporation said that it expects to recover around half of its fourth-quarter 2018 catastrophe losses from its reinsurance providers, with the majority to be received through its catastrophe aggregate cover.

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Sarah Demerling joins Walkers Bermuda as Partner

January 14, 2019

Walkers Bermuda, a full service commercial law firm based on the island, has hired Sarah Demerling as a new Partner, bringing additional experience in insurance-linked securities (ILS) and reinsurance to the firm.

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Pool Re sponsors first terrorism risk catastrophe bond, Baltic PCC

January 14, 2019

Pool Re, the UK government-backed mutual terrorism reinsurance facility, is bringing the first terrorism risk catastrophe bond to market to tap the capital markets for retrocession, in a £75 million ($97m) Baltic PCC Limited (Series 2019) transaction.

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Philippines parametric insurance doubles, cat bond on the way: World Bank

January 14, 2019

The recently renewed Philippines parametric natural disaster insurance cover was completed at $390 million in size, around double the prior year, and the World Bank has confirmed that work is underway to issue a catastrophe bond to extend disaster protection for the country.

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Best of Artemis, week ending 13th January 2019

January 14, 2019

Here are the ten most popular news articles, week ending 13th January 2019, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

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Cat bond loss expectations rise on ongoing creep

January 11, 2019

Catastrophe bond losses from the 2017 hurricanes and catastrophes have been seen to be rising over the last quarter of 2018, as continued loss creep and aggregation raises investor expectations for the eventual loss bill the sector will face.

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ILS growth to return, as longer-term investors remain committed: Aon

January 11, 2019

Longer-term investors in insurance-linked securities (ILS) and reinsurance linked assets are expected to remain committed to the sector despite the impact of losses over the last two years, with a resumption of ILS market growth anticipated once recent losses have been digested.

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