Archive for November, 2015

The impact of climate change is set to exacerbate the negative effect on sovereign ratings from major natural catastrophe events by 20%, according to Standard & Poor’s, as the loss and damage caused by these events increases due to warmer temperatures.

Zenkyoren, or the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, is back in the capital markets looking for at least $200 million of reinsurance protection from a Japanese earthquake catastrophe bond issue, Nakama Re Ltd. (Series 2015-1).

In order to better serve the needs of societies in emerging markets insurers and reinsurers require the structures and capacity of alternative reinsurance and ILS, according to the Deputy Managing Director of the Monetary Authority of Singapore (MAS), Jacqueline Loh.

For the tenth consecutive quarter global commercial insurance rates have declined across the majority of business lines, as excess capacity and a lack of large loss events challenges companies’ profitability, according to analysts at Marsh.

Despite an expected overall RoE of roughly 13% for non-life reinsurers at year’s end 2015, a challenging investment landscape, any return to normalised catastrophe losses and declining reserve releases signal further challenges for the sector, according to reinsurance giant Swiss Re.

Bermudian reinsurance firm and third-party capital manager RenaissanceRe wants to be seen as the best underwriter of property catastrophe risks, particularly with regards to third-party capital management from investors, according to its CEO.

PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data and indices, has announced its expansion into a new territory, Turkey, where it will provide data coverage for earthquake and flood loss events.

As the use of ILS capacity has grown within the overall insurance and reinsurance market, the industry has voiced concerns about how investors will react after a significant loss event, but industry leaders actually predict more ILS capital to enter than exit post-event.

Nick Duffin, a reinsurance broker with 14 years of experience across lines including retrocession, industry loss warranties (ILW’s) and property treaty, is transferring from London to Bermuda for JLT Re.

A study conducted by the United Nation’s (UN) highlights the significant cost that weather-related disasters cause across the globe, and with the expectation of more frequent and more severe events in the future, an urgent need to improve disaster resilience and mitigation is again brought to light.