Archive for November, 2009

General Insurance Corporation (the Indian state owned insurance and reinsurance company) is working to establish a natural catastrophe pool for insurers and reinsurers in Africa and Asia. A top official at the company has been quuoted in the Deccan Herald saying that GIC have been entrusted by the Federation of Afro-Asian Insurers and Reinsurers (FAIR) […]

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has delivered its final advice documentation on the Solvency II Level 2 Implementing Measures. There’s a lot of documentation to read, some of which will be very relevant to our markets so it’s worth catching up on.

Swiss Re is preparing to bring a new one year catastrophe bond to market in the very near future. Successor X Ltd., expected to be a $50m deal although that could rise before it is issued, will replace and update the existing Successor cat bond program with new indices and collateral structure. This transaction will […]

We last reported on Genworth and its River Lake transactions back in July at which time River Lake transactions were being reviewed for credit worthiness. Now Moody’s reports that it has withdrawn all ratings on certain Genworth sponsored and MBIA Insurance Corporation backed life insurance-linked securitizations. River Lake I, II, IV and Rivermont are all […]

Mercer, the global consulting, investment and outsourcing firm, has recommended that investors revisit alternative investments if they are looking for boosted returns from their portfolio. Mercer highlights a solid opportunity in alternative investments as a great way to find good returns while being uncorrelated to traditional equity type investments.

Ida regained her hurricane status over the weekend, strengthening more quickly than was forecast to become a category two hurricane carrying sustained winds of 100mph. Ida narrowly missed the Yucatan peninsula and is now crossing the Gulf of Mexico bound for the U.S. coast somewhere between Pascagoula Mississippi and India Pass Florida.

Here’s an interesting case where weather insurance has been purchased, it’s rained on the day of an event and the organisers are even more happy than if it hadn’t rained at all. A rare thing you might think. The town of Amherts in Massachusetts was celebrating it’s 250th anniversary with a parade that day. The […]

Tropical Storm Ida became a hurricane earlier today before making landfall on eastern Nicaragua. The storm made landfall with winds of 75mph, has caused structural damage to buildings and is dropping between 15 and 20 inches of rain on parts of the country as it passes over. It will pass over Nicaragua and Honduras before […]

The Association of British Insurers report which they commissioned to look into climate change, the financial risks associated with it and how the insurance industry will cope has now been published. The report was produced by AIR Worldwide and the UK Met Office.

Risk Management Solutions recently published a paper analysing the 1908 Tunguska asteroid event which hit Central Siberia in Russia and looking at scenarios to determine what might happen should a similar event occur today. If a similar event happened above Manhattan today it could cause over a trillion dollars in property losses and around 3.2m […]