Archive for August, 2016

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Alternative capital both competitor & partner of London market: A.M. Best

Despite being a clear contributor to the competitive operating environment, London market insurers and reinsurers continue to increase their use of capital markets capacity to protect their balance sheets, according to A.M. Best. Global financial services ratings agency A.M. Best has underlined the benefits and challenges for the London market from read the full article →

Hawaii facing consecutive hurricanes Madeline & Lester

The Big Island of Hawaii is set to face impacts from two hurricanes in a matter of days, as hurricane Madeline is set to strike the island this evening and hurricane Lester barrels towards making a closest pass to the island this weekend. Hawaii has reasonably high insurance penetration, meaning that read the full article →

U.S. catastrophe losses 20% above historical average in H1 2016: PCS

An increase in catastrophe activity during the first-half of 2016 across the U.S. resulted in insured losses of $13.5 billion, which is 20% higher than the ten-year historical average, according to Property Claim Services (PCS). First-half 2016 U.S. catastrophe loss activity increased modestly on the same period last year, as the read the full article →

Cat bond investors as good at paying claims as reinsurers: S&P

Despite being untested in the face of a major loss event and their relatively short existence, catastrophe bonds have a strong history of paying claims and the payment timeline is actually similar to that of traditional reinsurers, according to Standard & Poor’s (S&P). International ratings agency S&P has released a report read the full article →

Twelve Capital launches re/insurance equity investment fund

Insurance and reinsurance linked investment specialist Twelve Capital has announced the launch of its equity investment strategy, which further expands the asset managers vision of enabling investments across the insurance and reinsurance balance-sheet. Twelve Capital already has successful insurance-linked securities (ILS), collateralised reinsurance and catastrophe bond funds, an insurance private debt read the full article →

ILS funds in 0.4% July return, 3 funds negative as loss impact continues

The average return across insurance-linked securities (ILS) and reinsurance linked investment funds was 0.4% in July 2016, as premium allocation rose due to the U.S. hurricane season but still three of the ILS funds tracked reported negative returns due to the continued impact of losses. After two months in May (Canadian read the full article →

Zurich in two longevity swaps for £600m of Pirelli pension liabilities

Insurance group Zurich has completed two longevity swap transactions with pension funds of the Pirelli group, between them covering £600m of pension longevity liabilities and with 75% of the risk transferred to reinsurance firm Pacific Life Re. Zurich Assurance Ltd., the pensions and life related subsidiary of the global insurer, has read the full article →

10% of Italy earthquake economic loss to be re/insured: A.M. Best

Rating agency A.M. Best estimates that around 10% of the total economic losses from last week's devastating M6.2 earthquake in Umbria, Italy will be paid for by insurance and reinsurance markets, as low levels of insurance penetration limit the industries exposure. Last week's earthquake is now known to have killed around read the full article →

Asian reinsurance demand poised for growth: Fitch

Regulatory developments and advances across Asia has the potential to drive an increase in reinsurance demand in the region and, with insurance penetration being amongst the lowest anywhere in the world there’s ample opportunity for growth, according to Fitch Ratings. As emerging insurance and reinsurance markets go, many in the industry read the full article →

Expanding the reach of cat bonds to the world’s most vulnerable: CFGD

The Centre for Global Development (CFGD) has highlighted the growth of the catastrophe bond market as an efficient and “simple” means of insuring natural disasters, but stresses that for the most part, coverage hasn’t reached the most vulnerable and poorest parts of the world. Despite a slowdown of issuance in the read the full article →