Archive for June, 2017


RiskAssessor to enhance industry’s view of hurricane risk: RMS

RMS, the global risk modelling and analytics firm, has launched RMS RiskAssessor™ 2.0, the re/insurance and insurance-linked securities (ILS) industries’ first “auditable custom vulnerability modeling solution” for hurricane risk. The new model, which RMS describes as an “engineering-based technology,” has been developed to enable insurers, reinsurers, and also ILS players to integrate read the full article →

UK’s PRA warns on price discipline, alternative market pressures

The UK's Prudential Regulation Authority unit of the Bank of England has sent yet another warning to insurance and reinsurance CEO's on the need to remain disciplined on price, especially while prices continue to soften, and that the alternative market continues to pressure rates, particularly in property catastrophe risks. The PRA's read the full article →

Mayer Brown hires experienced reinsurance & ILS lawyer Jay Kallas

Global law firm Mayer Brown has hired Jay Kallas, a lawyer with experience in catastrophe bonds, collateralized reinsurance and other capital market-related areas of risk transfer, as counsel in its Global Insurance Industry Group and Corporate & Securities. Kallas was most recently with Drinker Biddle & Reath LLP, where he worked read the full article →

Stone Ridge ILS assets hit $5.7 billion, growth slows to 4%

Growth in insurance-linked securities (ILS) and reinsurance linked assets under management slowed at U.S. mutual fund manager Stone Ridge Asset Management during its last reported quarter, with its net ILS assets increasing by just 4% to $5.7 billion by the end of April. It's a bit of a slowdown in the read the full article →

Korea to explore the expansion of weather hedging and insurance

In response to more unpredictable outbreaks of adverse weather events and conditions in Korea, the Korea Meteorological Administration (KMA) has called on the Korea Insurance Development Institute (KIDI) to expand the use of weather hedging and insurance, an area that insurance-linked securities (ILS) funds are prominent. This is according to a read the full article →

Fitch warns Lloyd’s on underwriting performance, catastrophe exposure

Ratings agency Fitch has issued a stark warning to the Lloyd's of London insurance and reinsurance market, turning its rating outlook to negative, citing the market's deteriorating underwriting performance and its increasing exposure to catastrophe risk. Fitch has calculated the Lloyd's market combined ratio at 98%, which it calls a "significant read the full article →

Jamaica questions CCRIF model after floods fail to trigger policy

There are questions being asked in Jamaica about the risk model that underpins the regional catastrophe insurance policies issued by the CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility), after torrential rainfall and resulting flooding in May failed to trigger the countries parametric coverage. According to reports from the island read the full article →

More frequent, intense weather losses possible due to changing climate: AIR

Risk modelling and analytics firm AIR Worldwide has released a new report that studies the potential effects of climate change on atmospheric perils and extreme weather conditions of relevance to the insurance, reinsurance and ILS sector, finding a general expectation that losses may become more frequent and more intense. Explaining the read the full article →

ILS fund returns again impacted by U.S. storms in May

Once again, slight impacts were reported for some ILS funds in May 2017 due to U.S. severe thunderstorm activity, as the average returns of the insurance-linked securities (ILS), pure catastrophe bond and reinsurance-linked investment fund sector came in at 0.19% for the month. The May 2017 return was slightly below the read the full article →

New Guy Carpenter Asia Pacific retro team to expand ILS in region

Reinsurance broker Guy Carpenter has launched a new unit focused on offering a dedicated retrocession service to its clients in the Asia Pacific region. The GC Asia Pacific Retro unit will also look to provide a capital agnostic approach and hopes to help expand ILS in the region. Launched this morning read the full article →