Archive for September, 2017

The insurance and reinsurance industry loss estimate for Cyclone Debbie has been increased by 18% at the latest update by PERILS AG, which now reports the market loss as AU$1.658 billion, which is approximately US$1.3 billion.

The total amount of insured losses estimated from insurance claims filed in Florida following hurricane Irma has now reached over $3.85 billion, up another 25% since September 21st according to the insurance regulator.

The approach, impacts and industry loss expectations associated with hurricane Maria appears to have caused a further dip in the values of interval reinsurance and ILS funds managed by Stone Ridge Asset Management and Amundi Pioneer, suggesting both could have additional exposure to the storm.

The Malta Stock Exchange has been approved by its regulators to launch an Institutional Financial Securities Market (IFSM), which would enable any insurance-linked securities (ILS) issued in the country to be listed in Malta.

With every major catastrophe loss event it’s common to hear discussion of whether it will be a hit to reinsurer earnings, or to their capital. 2017 was running as a definite earnings impact to the majority of reinsurers, but the addition of a high loss estimate for hurricane Maria’s Caribbean impact has moved Fitch’s opinion […]

Global reinsurance firm SCOR said that it expects the impacts of hurricanes Harvey, Irma and Maria will likely remain an earnings, rather than capital event, and that it does not expect its contingent capital facility will be triggered as a result of the losses it will suffer.

Equity analysts that track the insurance and reinsurance industry all seem to be shifting their opinions more in favour of broader rate rises in the reinsurance space, following the announcement from AIR Worldwide that hurricane Maria could add between $40 billion and $85 billion to the industry losses from recent catastrophes.

As InsurTech investment continues apace, questions are often asked about the ability of startups to launch into a sector that is heavily regulated and requires significant capital. In answer to this question, leading ILS fund manager Nephila Capital, its fronting partner State National and some top VCs are backing a platform designed to take the […]

Marsh & McLennan Companies (MMC), via GC Securities and Marsh Captive Solutions, recently announced the launch of a new vehicle designed to support the access of capital markets-backed insurance-linked securities (ILS) protection, called Cerulean Re SAC Ltd.

Property and casualty insurance company United Insurance Holdings (UPC Insurance) is set to make a significant call on its reinsurance providers, reporting that its gross losses from hurricanes Harvey & Irma are estimated at up to $600 million, but after reinsurance it expects to retain just $83 million of the loss.