Archive for October, 2016

The hurricane Matthew insurance or reinsurance claims loss has now reached $606 million, according to the latest from the Florida Office of Insurance Regulation. With over 57% of claims filed still open the total can be expected to rise further, with the remaining claims potentially able to add as much as $800m to the total.

Issuance of insurance-linked securities (ILS) and catastrophe bond transactions during the third-quarter of 2016 remained strong, bringing the market back to growth after a sluggish Q2. With investors keen for peril diversification, there could be a pricing advantage for non-U.S. exposures, according to Munich Re.

The type of cyberattack as seen recently on domain name system (DNS) provider Dyn are expected to become more commonplace, but this scenario highlights how reinsurance and capital markets can assist with the adaptability of cyber insurance as a means of transferring such risk, according to Rick Welsh.

Lloyd’s of London syndicate Blenheim Syndicate 5886, led by the former Chief Executive Officer (CEO) of Cathedral Capital Peter Scales, has added a number of ex-Cathedral property underwriting staff and also confirmed today the investment made by ILS manager Nephila Capital.

Welcome to the first Artemis Monte Carlo Reinsurance Rendezvous Roundtable, in which participants discuss the potential for ILS to play a role in new and emerging business lines, such as cyber and terror, and explore what direction the marketplace could be heading.

Third-quarter results for both Travelers and RLI cite unfavourable reserve developments as a contribution to weaker underwriting returns, underlining a potential need for greater reinsurance protection as reserves fall further at the same time that attritional catastrophe losses climb.

Here are the ten most popular news articles, week ending 30th October 2016, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

In its 2015-2016 annual report, Australian sovereign wealth investment fund, the Future Fund, confirmed that it’s added a second manager to its reinsurance portfolio, which the fund says will facilitate potential expansion of this exposure in the future.

A recent article in a leading insurance publication suggested that Bermuda had stolen the ILS market from other domiciles, in this case London. But that’s far from the case and rather than protectionist comments, markets would be better served working together for the future good and growth of ILS.

Global reinsurance firm Swiss Re has sealed an agreement with the Chinese province of Guangdong to be the sole reinsurer for a parametric disaster insurance pilot providing $350m of protection against tropical cyclone and excess rainfall for seven prefectures in the region.