Archive for November, 2016

Protectionist practices have a detrimental effect on the ability of the global insurance and reinsurance industry to close the protection gap between economic losses and those covered by insurance, according to reinsurer Swiss Re’s Chief Economist Kurt Karl.

The Munich Climate Insurance Initiative (MCII) recently expressed its support of the G7 InsuResilience target of providing 400 million of the world’s most vulnerable with access to insurance protection, underlining measure to be taken to achieve this goal. Bringing to mind the abundance of efficient and willing ILS capital that should play a greater role […]

Meteo Protect, a weather risk management, data, pricing, broking and structuring firm has entered into a strategic partnership with banking group BNP Paribas to offer its corporate and institutional clients weather risk transfer products.

The implementation of insurance-linked securities (ILS) regulation in the United Kingdom could result in increased opportunity for the capital markets to directly access insurance and reinsurance risk, resulting in increased pressure on pricing and rates, according to analysts.

The development of the insurance industry loss caused by a devastating M6.2 earthquake which struck in August in Italy, near the Umbrian town of Norcia, has accelerated, with industry loss estimate provider PERILS almost doubling its figure to EUR66 million.

The UK Government has now published its draft regulations for the facilitation of insurance-linked securities (ILS) business, with the goal of establishing London as an ILS domicile. The publication sets out proposed corporate, tax and regulatory framework for ILS, and has been well received by the London market.

Hurricane Matthew was a timely reminder that the benign loss environment won’t last forever, despite the storm’s final track causing far less damage than initial forecasts had suggested. While the insured loss isn’t expected to turn the softening reinsurance market cycle, it has pushed the sector slightly closer to the bottom, according to Paul Gregory […]

Third-party reinsurance capital continues to search for ways to get closer to the original source of risk as it’s become a permanent and influential force within the global reinsurance market, according to industry experts.

Hurricane Otto, the fifteenth named storm and seventh hurricane of the 2016 Atlantic storm season, formed in the Caribbean this week and has intensified into a category 1 storm with sustained winds of 75 mph as it heads for a landfall near the Nicaragua and Costa Rica border.

The major earthquake that struck off the coast of Japan in the early hours of this morning local time and the tsunami waves that followed, are not anticipated to have caused significant damage, according to risk modelling firm RMS.