“We are transitioning into a risk knowledge company that invests into risk pools with long-term growth potential,” explained Swiss Re Group CEO Christian Mumenthaler in the reinsurance firms recent annual report.
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In response to the new Continuous Mortality Investigation (CMI) model, recent reductions seen in national mortality improvements can no longer be regarded as a “blip” and have put the pension longevity swap and reinsurance market into a state of flux, according to Aon Hewitt.
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The global insurance and reinsurance industry suffered $54 billion of losses in 2016, according to the latest data from Swiss Re’s sigma unit, with the United States leading the way due to a record number of severe convective storm events.
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Severe tropical cyclone Debbie struck northern Queensland in recent hours, with a landfall featuring 260kph wind gusts, storm, surge and torrential rain. A catastrophe has been declared for the region, but in the hours prior to landfall re/insurers were preparing for the impact and sources suggest the live-cat market woke up.
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Security First Insurance Company is returning to the insurance-linked securities (ILS) market with its second transaction, seeking $150 million of fully-collateralized reinsurance protection from the capital markets through a First Coast Re Ltd. (Series 2017-1) issuance.
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Gibraltar. An ILS positive for London post-Brexit?

March 27, 2017

The UK’s vote to leave the European Union will not impact Gibraltar’s insurance-linked securities (ILS) offering to EU ceding insurers, and the region’s relationship with the UK’s financial services business is positive for both London’s and Gibraltar’s ILS ambitions, according to industry experts.

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2016 a testing period for longevity swap market: Aon Hewitt

March 27, 2017

Last year was a testing one for the market in longevity swaps, as both pensions and reinsurance markets reacted to changes in mortality expectations driven by new data, creating market uncertainty, Aon Hewitt said.

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Artemis ILS Asia 2017 – Building on ILS market connections to the region

March 27, 2017

Artemis is returning to Singapore on the 13th July 2017 for our second Asian conference, ILS Asia 2017. We’re delighted to invite you our readers, your colleagues and your contacts to the second installment of our annual ILS event for the Asia region.

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Suncorp expects to call on aggregate reinsurance for cyclone Debbie

March 27, 2017

Australian insurer Suncorp expects that any losses it faces from claims due to the approaching cyclone Debbie, which is anticipated to strike Australia as a Category 4 storm, will cause it to call on its AUS$300 million (US$230mn) aggregate reinsurance layer.

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$178m Integrity Re cat bond being issued by Hannover Re for American Integrity

March 27, 2017

Floridian primary insurance group American Integrity Insurance Company of Florida, Inc. is set to benefit from its first catastrophe bond, as a $178 million Integrity Re Ltd. (Series 2017-1) transaction is launched with Hannover Re acting as ceding reinsurance firm.

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Best of Artemis, week ending 26th March 2017

March 27, 2017

Here are the ten most popular news articles, week ending 26th March 2017, 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.

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World Bank rep calls for supervision of index-insurance

March 24, 2017

Index-based, or parametric structured insurance solutions, while beneficial and expanding across the world, require greater supervision, according to Lead Insurance Specialist at the World Bank, Craig Thorburn.

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Everglades Re II termination notice filed

March 24, 2017

An optional termination notice was issued by the Everglades Re II Ltd. (Series 2015-1) catastrophe bond vehicle to its investors this week, confirming that Florida’s Citizens Property Insurance Corporation is redeeming the bond early.

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Are heads still in the sand on reinsurance pricing?

March 24, 2017

Among traditional reinsurance players there still seems to be a tendency to believe that reinsurance pricing will bounce back just as soon as losses normalise, a view held by some of the largest reinsurers. Is this Ostrich syndrome, or wishful thinking?

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Weather derivatives mooted for Thai futures exchange

March 23, 2017

The Stock Exchange of Thailand (SET) is assessing launching weather futures and perhaps other weather derivatives in order to provide weather risk management tools in an exchange traded environment for farmers.

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