Archive for March, 2017

Here are the ten most popular news articles, week ending 12th March 2017, 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.

The extension of maturity for the stricken Gator Re Ltd. catastrophe bond transaction has been extended even further, we understand, as the time to clarify the full loss and pay out due to sponsor American Strategic Insurance increases.

Another outbreak of severe thunderstorms and convective weather resulting in numerous tornado, hail and strong wind reports across the central U.S., and European windstorm Zeus which slammed into France causing widespread impacts are likely to drive insured losses this week.

U.S. primary insurance firm Federated National Insurance (FedNat) has revealed a decrease in its loss from hurricane Matthew, compared to its initial estimate, meaning that reinsurance capital has taken a smaller share than it had first assumed.

Prudential Financial and Rothesay Life have announced their sixth major longevity reinsurance transaction since 2011, with a $1.2 billion deal covering liabilities associated with 22,500 pensioners, across eight pension plans.

The Federal Emergency Management Agency (FEMA) will seek to build on its “cornerstone” flood reinsurance placement in order to better protect the National Flood Insurance Program (NFIP), while shifting more of its risk to the private sector.

Large and institutional investors, such as pension funds, insurers, family offices and endowments, have increased their allocations to alternatives in 2016 and are seeking diversification within alternatives, which should be positive for insurance-linked securities (ILS) funds.

Weather risk management, risk transfer, data, pricing, broking and structuring firm Meteo Protect, has launched a new corporate headquarters in Paris to facilitate broad expansion plans across the globe.

Global specialty insurance and reinsurance firm Brit Ltd. has increased the size of its reinsurance sidecar vehicle Versutus Ltd. to $150 million in order to accommodate coverage for its U.S. property binder insurance risks.

Global insurance giant AXA has launched a new unit focused on expanding its development and sales of parametric insurance and risk transfer products, and has named Tanguy Touffut as the units CEO.