Archive for September, 2017

An updated article on hurricane Maria can be found here. Previous article: Hurricane Maria is nearing the Caribbean Leeward islands with sustained winds currently at 120 mph and higher gusts, as of 3:00 PM UTC September 18th, but the storm, now a major Category 3 hurricane, could keep intenfsiying as it targets the islands and […]

Here are the ten most popular news articles, week ending 17th 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.

Investors in insurance-linked securities (ILS) and collateralised reinsurance investment funds are reloading in order to provide ILS fund managers with the necessary capacity to take advantage of attractively priced opportunities that have been presented in the wake of hurricanes Harvey and Irma.

The British Airways Pension Scheme (APS) has entered into a £1.6 billion transfer of longevity risk, using a captive insurance cell in Guernsey to intermediate the deal and gain more direct access to reinsurance capacity, provided by Partner Re and Canada Life Re.

In an interview with Artemis, Bill Dubinsky, Managing Director and Head of Insurance-linked securities (ILS) at Willis Towers Watson Securities (WTWS), discussed the continued growth and expansion of the sector in light of a record-breaking issuance year and potential impacts of hurricane Harvey and hurricane Irma on the catastrophe bond market.

Estimates of losses to the National Flood Insurance Program (NFIP) from hurricanes Harvey and Irma’s flooding are on the rise, leaving the NFIP’s administrators with the difficult task of refunding the Program which is technically bankrupt and all but guaranteeing that the $1.024 billion reinsurance layer will payout.

In a recent report, global ratings agency A.M. Best has warned of the potential impact to Florida exposed catastrophe bonds from the devastation caused by hurricane Irma, but the real exposure for the market is quite low and aggregated losses could be more of a threat.

Property Claim Services (PCS), a division of Verisk Analytics, has provided its first estimate of the insurance and reinsurance industry loss from the two Turkish hail storm and flooding events that struck the country in July 2017 as around US $300 million combined.

Reinsurance and insurance-linked securities (ILS) investment manager Blue Capital Management warned its shareholders in the Blue Capital Alternative Income Fund (formerly known as the Blue Capital Global Reinsurance Fund) of the complexity of the loss from hurricane Irma.

Marsh & McLennan Companies, the broking and consultancy giant, has transferred a huge £3.4 billion chunk of longevity risks from its MMC UK Pension Fund to reinsurance capital through a deal transacted via a Guernsey based incorporated cell company.