Archive for January, 2015

The Texas Windstorm Insurance Association (TWIA), the insurer of last resort for Gulf Coast property owners in the state, has begun planning for its 2015 reinsurance renewal, which could include another Alamo Re catastrophe bond.

Asia is home to some of the most vulnerable regions on the globe for natural catastrophes, and the lowest levels of insurance penetration, but according to Munich Re the demand for insurance products in China is on the rise.

As 2015 gets underway organisations continue to view business interruption (BI) and supply chain risk as the main threat to operations, with the impact of natural catastrophes and fire/explosion risks following, according to a recent Allianz report.

Bermuda-based hedge fund strategy reinsurer Third Point Re is getting closer to being able to start its awaited U.S. reinsurance operations, as the companies it has set up to begin writing U.S. business are now rated by A.M. Best.

According to sources, the price guidance for the latest health insurance-linked security (ILS) from Aetna, Vitality Re VI Ltd. (Series 2015-1), has not changed as the transaction approaches completion.

Last year was a record breaker for the use of cat bond lite platforms, as re/insurers showed increased acceptance of specialist issuance platforms, revealing a growing understanding of catastrophe bonds as a risk transfer, reinsurance and capital management tool.

Secondary market catastrophe bond trades captured by FINRA’s TRACE system in the last week showed a trend towards lower pricing, especially for short-dated bonds which continue to change hands.

AIR Worldwide’s latest “2014 Global Exceedance Probability (EP) Curve” report estimates that a 1-in-100 year loss event equates to roughly $231.5 billion in global insured losses, up 6% from a year earlier.

Aon Benfield, the reinsurance and capital advisor arm of broker Aon plc, has launched ReMetrica for Life, Health & Pensions, bringing stochastic risk modelling to these lines of business, to assist with evaluating risks and reinsurance purchases.

Bermuda-headquartered, London-listed insurance and reinsurance group Hiscox has grown its insurance-linked securities (ILS) assets under management at Kiskadee Investment Managers, the firms ILS investment management subsidiary.