Guy Carpenter has issued it’s annual report on the state of the catastrophe reinsurance marketplace. The report entitled ‘World Catastrophe Reinsurance Market 2009’ finds that reinsurance rates have been increasing by an average of 8% through the 2009 renewals. They put this increase down largely to the financial crisis impact on reinsurers balance sheets and […]
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SCOR Global Life SE has added a new layer of cover to their existing four year mortality swap deal with J.P. Morgan. The new layer provides SCOR with an additional $75m cover for the rest of the deal which runs to 31st December 2011. By increasing its cover SCOR hope to give themselves enough protection […]
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Fitch Ratings has released their latest report titled ‘2009-2010 Global Reinsurance Review and Outlook’ yesterday. In it they discuss the current global reinsurance market conditions and how the current economic climate could impact them. Fitch express concern that reinsurers access to capital may be severely restricted by the current financial climate and say that if […]
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MicroEnsure has been running a weather insurance pilot in Malawi, Africa since 2005 with the World Bank’s help and approval. Since then they have launched the product to farmers in Tanzania, Rwanda, India and the Philippines. Now they have announced that they will be opening up and offering policies to farmers in Kenya by the […]
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The Atlantic Tropical Storm Season has gone from being quiet to now delivering 5 named storms in less than a month. The fifth named storm of the season is Tropical Storm Erika. Erika is currently to the northeast of the Leeward Islands carrying winds of approx 60mph. She’s expected to move to the northwest of […]
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Moody’s Investors Service has announce an upgrade for the Fremantle Limited catastrophe bond which was issued by Brit Insurance Ltd. back in June 2007. Fremantle Limited provides Brit with cover for a portfolio of risks including European windstorms (both UK storms and Europe ex-UK) , Japanese typhoons, Japanese earthquakes, California earthquakes, U.S. Midwest earthquakes (New […]
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Hannover Re has become the first to transfer a portfolio of facultative risks to the capital markets through it’s new sidecar venture Fac Pool Re. Providing $60m in capital, Fac Pool Re is the first attempt by a reinsurer to securitise a pool of clients facultative business within the capital markets rather than holding the […]
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