Archive for August, 2017

For the third update to the estimate of insurance and reinsurance industry losses caused by extra-tropical cyclone (or European windstorm) Thomas (which was also known as Doris in the UK), PERILS AG has held the tally static at EUR 249 million.

Australian general insurance firm Insurance Australia Group (IAG) is to continue making greater use of reinsurance capital, with the company exploring new quota share arrangements with its counterparties even as its aggregate layer of protection continues to be eroded.

Tropical weather forecasters at the Weather Company have increased their forecast for 2017 Atlantic tropical storm & hurricane season activity, citing a warming Atlantic ocean and climate models that increasingly lean towards La Nina conditions during the peak of the Atlantic hurricane season.

San Francisco based Metabiota, a company focused on risk analytics for epidemics, has launched its first commercial risk modelling platform and a preparedness index to help insurance or reinsurance firms and ILS funds or investors understand and underwrite epidemic risk.

Kinesis Capital Management, the third-party reinsurance capital management arm of specialist re/insurer Lancashire Holdings, has expanded its investor base so far in 2017, with many partners equipped to increase their allocation when the opportunity arises, according to Lancashire Group Chief Executive Officer (CEO), Alex Maloney.

In global reinsurance markets, the endurance of alternative capital from ILS funds and capital market investors, as well as the recent uptick in catastrophe bond issuance, has helped to make the pricing floor elusive and Fitch Ratings sees no sign of it coming into view anytime soon, with a sixth January in a row of […]

Tapping the capital market for support from institutional investors, as we see in the insurance-linked securities (ILS) and associated reinsurance sectors, helps to make the provision of risk transfer and insurance more competitive and efficient, according to Joachim Levy, World Bank Group CFO.

A hurricane Andrew-like category 5 storm that struck Florida in the Miami area could cause a loss of as much as $6.3 billion to the catastrophe bond market, with 25 individual cat bonds triggered and 47 tranches of notes taking losses, according to risk modelling firm AIR Worldwide.

Insurance-linked securities (ILS) has potential in helping counterparties to achieve longevity risk transfer and in financing or backing large transactions for bulk annuity insurers, according to consultants Hymans Robertson.

Underscoring the need for significantly higher insurance and reinsurance penetration in China, the country’s government has reported that natural disasters during the month of July 2017 alone have resulted in direct economic losses of around US $20 billion.