Regulator in Chile considering catastrophe bonds and microinsurance

by admin on September 3, 2010

Chile is a country extremely prone to earthquakes, as evidenced by the 8.9 magnitude quake which devastated areas of the country in February this year. You would be forgiven for thinking that as a country plagued by earthquakes it would have a robust risk management and insurance culture. It doesn’t, but talks are beginning to take place which could see that improve.
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UK private sector pension liabilities at an all time high; Aon

by admin on September 3, 2010

As the market for risk transfer and hedging of pension liabilities grows this year, news comes from Aon that the liabilities and obligations of UK companies to their pension funds have hit all time highs.
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Fitch says Solvency II could result in catastrophe bond issuance increase

by admin on September 2, 2010

Fitch Ratings issued a report which looks at the current state and outlook of the reinsurance market. The report, Fitch’s 2010/2011 Reinsurance Review and Outlook which you can download from their website, looks at how the market has progressed and suggests possible trends to watch for in the coming year.
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$50m to $150m in insured losses so far from Hurricane Earl, estimates AIR Worldwide

by admin on September 2, 2010

Hurricane Earl made a close pass by the Caribbean Leeward Islands this week and damage loss estimates are starting to come in. Losses are being tallied for the Virgin Islands, Puerto Rico, St. Maarten, and St. Martin.
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Pension Insurance Corporation in buyout of Alliance Unichem UK scheme

September 2, 2010

Pension Insurance Corporation (PIC) has entered into an agreement with Alliance Boots to insure the Alliance Unichem UK group pension scheme. The buyout means that PIC now looks after the pensions of 3,000 members.

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As Glacier Re goes into run-off Nelson Re catastrophe bond gets downgraded outlook

September 1, 2010

An interesting situation has come about after Glacier Re, the Swiss based reinsurer, announced that it was putting itself voluntarily into run-off. On the 27th August Glacier Re announced that it had reviewed its strategic alternatives and decided to discontinue its underwriting operations and go into a self-managed run-off.

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Hurricane Earl taking aim at east coast catastrophe bonds

September 1, 2010

The United States east coast is watching nervously as hurricane Earl approaches. Currently Earl is heading straight for the Carolinas coast, it is predicted to make a turn to the north-northeast prior to reaching the coast and then skirt the coastline as it heads towards Canada. That forecast track doesn’t leave much room for change. [...]

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CCRIF to make payout after hurricane Earl hits Caribbean

September 1, 2010

Hurricane Earl passed close enough to the Caribbean island state of Anguilla yesterday to trigger a payment under the Caribbean Catastrophe Risk Insurance Facility (CCRIF). Early reports suggest that Earl, a major Category 4 hurricane, blew roofs off buildings in Anguilla, downed power lines and caused beach erosion and flooding from the storm surge and [...]

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CelsiusPro helps businesses become winners despite bad summer weather

August 31, 2010

Locarno International Film Festival, Bielersee-Navigation-Company and Ski Lifts Schwyz-Stoos Fronalpstock are among the winners this summer as they have successfully hedged against bad summer weather conditions in Europe. They hedged their financial risks with customized weather derivatives and received an automatic payout following a rainy summer according to CelsiusPro.

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Multi-stakeholder approach required to address longevity risk

August 31, 2010

Concerted action in the form of public-private partnerships is required from governments, insurers and pension providers if they are to tackle the risk of increased life expectancy. In its new report ‘A short guide to longer lives: Longevity funding issues and potential solutions’ published today, Swiss Re warns that time is running out for effective [...]

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