Archive for November, 2016

Global insurers and reinsurers continue to walk way from business that is priced too low, as discipline remains paramount in the softening market cycle, and competition in the property catastrophe space and elsewhere persists.

Global reinsurance giant Swiss Re has stressed that persistent headwinds continue to impact insurance and reinsurance markets around the world, but has noted that growth is expected in both emerging and advanced markets in 2017.

Global reinsurance firm Swiss Re said that the major players are aware of the need for standards in blockchain related technology initiatives and hence the Blockchain Insurance Industry Initiative (B3i) involving some of the world’s largest re/insurers is important.

The Bank of England’s (BoE) Prudential Regulation Authority (PRA), in a recent consultation paper, has explored the potential underwriting risks derived from cyber attacks, stressing that more needs to be done by re/insurers to manage the increasing threat of ‘silent’ cyber losses.

U.S. military mutual insurer USAA has topped the Artemis catastrophe bond sponsor leaderboard after its latest cat bond transaction completed last Friday, adding $400m to 2016 issuance and taking total risk capital issued year-to-date to $5.327 billion.

The California Earthquake Authority’s (CEA) is set to achieve its $500 million of collateralized reinsurance protection upper target from the Ursa Re Ltd. (Series 2016-1) catastrophe bond transaction, but pricing has settled at the top end of guidance we’re told.

More information is set to be revealed about the ambitions of the UK to attract some form of insurance-linked securities (ILS) business to London this week, with the government set to include the publication of updated draft regulations in its Autumn Statement on Wednesday.

Catastrophe risk insurance, risk pools and catastrophe bonds can all participate in closing the international protection gap, ultimately helping to better prepare and finance the world against climate and weather-related disasters.

Blue Capital Management, the ILS and reinsurance linked asset management unit of Bermuda re/insurer Endurance, has revealed the impact to its London and Bermuda stock exchange listed reinsurance linked investment fund from catastrophes in October.

Coupon price guidance for the $200 million Bonanza Re Ltd. (Series 2016-1) catastrophe bond issuance, that is being marketed to investors on behalf of sponsor and ceding insurer American Strategic Insurance Group, has dropped to below the initial range once again reflecting strong investor demand.