Archive for April, 2017

As new mortality data feeds through into longevity insurance and reinsurance market pricing, Aon Hewitt says it sees promising signs that once pricing is absorbed and ready for clients to use it could result in a “significant year” for longevity risk transfer in 2017.

Alternative capital in the insurance and reinsurance market and across the range of insurance-linked securities (ILS) and collateralised products reached a new high at $81 billion and encouragingly sustained its recent pace of growth, according to broker Aon Benfield.

Extra-tropical cyclone (or European windstorm) Thomas (also known as Doris in the UK) is estimated to have caused an industry loss impact to insurance and reinsurance markets of around EUR 213 million, according to PERILS AG.

Insurtech start-up Ledger Investing, which counts ex-AIG capital markets head Samir Shah as its CEO, is in the process of completing a $5 million round of seed funding to help it build out its insurance risk securitization platform and expand its team.

A “structural revolution” is forecast for the Lloyd’s of London insurance and reinsurance market, as increasing quantities of alternative and ILS backed capital become the pre-dominant underwriters of the more standardised and commoditised risks in the marketplace.

Property Claim Services (PCS), a Verisk Analytics business, has launched a new service offering non-elemental historical industry loss estimates for the global marine and energy insurance and reinsurance sector, as well as a risk-transfer index to facilitate transactions.

The catastrophe bond market has already seen records set in 2017, as we explained in our latest market report here, and now second-quarter issuance could get a significant boost as reinsurance firm Everest Re’s latest Kilimanjaro issuance more than doubles its target to $1.25 billion.

Eclipse Re Ltd., the private syndicated collateralized reinsurance note platform from Horseshoe Group and Rewire Securities LLC, has issued its first tranche of private ILS or catastrophe bond notes, with a $20 million Eclipse Re Ltd. (Series 2017-01A) transaction.

Claims estimates from tropical cyclone Debbie continue to rise today, with the latest estimate of claims now at AU$386 million, while insurer IAG has become the first to explain the impact to it and said that its 2017 catastrophe reinsurance and its aggregate reinsurance layer would both pay some of the claims.

A new catastrophe bond sponsor is coming to market with its first transaction, as a Torrey Pines Re Ltd. (Series 2017-1) deal targets $143 million of collateralized reinsurance protection for California-based Palomar Specialty Insurance Company.