Archive for September, 2017

Property Claim Services (PCS) has announced the launch of PCS Global Cyber, a new loss aggregation service that offers industry loss estimates for individual affirmative international cyber events and can provide an index trigger for cyber risk transfer contracts, such as ILW’s or catastrophe bonds.

Global reinsurance firms are destined to only barely cover their cost-of-capital even under the lighter load of a normal catastrophe year, as the pressures of the softened and competitive market continue to bite, according to rating agency Standard & Poor’s.

The conditions in reinsurance markets continue to be challenging and with reinsurers only destined to make mid-to-high single digit returns, a normal catastrophe year “will expose the true ramifications of current market conditions” while an above average catastrophe year could be “downright ugly” according to A.M. Best.

TigerRisk Capital Markets & Advisory UK Ltd. has named adviser to the Cabinet Office and Chancellor of the Exchequer on issues relating to insurance-linked securities (ILS) Michael Wade as its new non-executive Chair, to help the firm build an ILS practice in London.

The World Bank Group has underlined its role in expanding the understanding and reach of index, or parametric insurance solutions in vulnerable parts of the world by increasing efforts to build capacity, ultimately assisting the growth of the global, index insurance market.

Keefe, Bruyette & Woods analysts say they are most concerned about the Bermudian insurance and reinsurance group of companies, in the wake of hurricane Harvey’s impacts, as they feel them to be over-valued and to have too little protection of their own.

Risk trading based on industry loss triggers linked to hurricane Harvey’s eventual insurance and reinsurance industry toll continued last week, with so-called “dead cat” trades taking place and the focus of counterparties shifting to higher levels of loss.

The $1.042 billion reinsurance program of the National Flood Insurance Program (NFIP) looks increasingly likely to be a total loss, as estimates continue to suggest that the hurricane Harvey loss to the NFIP is likely to mean the reinsurance program at least triggers, but most likely pays in full.

Latest hurricane Irma updates can be found in this new article. Major category 5 hurricane Irma is currently heading west across the Atlantic, with winds of 180 mph and a forecast that shows maintained intensity and a potential threat to the United States coastline by this weekend, including south Florida, but with some uncertainty in […]

Here are the ten most popular news articles, week ending 3rd September 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.