Archive for October, 2017

John Butler, who was previously a Managing Partner at insurance and reinsurance linked investment management firm Twelve Capital, has joined fixed income financial services specialists Cohen & Company, LLC to develop a U.S. Insurance Asset Management Platform and Global ILS Program.

Storm Ophelia could result in damages to Ireland worth up to €1.5 billion (US$1.8bn), after becoming one of the most powerful storms to hit the region in more than half a century, with the hit to insurance and reinsurance interests considered relatively significant, according to industry reports.

Tickets are now on sale for our next New York conference, Artemis ILS NYC 2018. The event will be held on February 2nd, 2018 and will bring ILS industry experts, investors and other parties from across the insurance, reinsurance and risk transfer space to NYC for a day of thought-provoking discussion.

Reinsurance and retrocessional reinsurance investment manager Markel CATCo Investment Management has implemented loss reserves for hurricanes Harvey, Irma and Maria amounting to 20% of net asset value for its listed retrocession strategy, the CATCo Reinsurance Opportunities Fund Ltd.

In a new report, RE:bound has further explored the potential benefits of resilience bonds, underlining the opportunity for the public sector to access private capital, to transfer disaster risks away from while supporting the development of resilient infrastructure projects.

Aspen Insurance Holdings Limited has published its estimate of third-quarter 2017 catastrophe losses, with $360 million of impact expected from events including hurricanes Harvey, Irma and Maria. The majority of these losses come from Aspen’s reinsurance business segment.

Hurricane Irma related insurance claims in Florida have increased further in the last week, rising around 8.5% to almost $5 billion, with almost 32% of claims now closed, according to the latest data from the Florida Office of Insurance Regulation.

The fears of a substantial volume of ILS capital being trapped for too long so that it’s unable to be redeployed at the January 2018 reinsurance renewals, in light of recent catastrophe events, may be overstated, according to JLT Re’s David Flandro.

Meteo Protect, the weather index insurance specialist, has received Coverholder status from the Lloyd’s of London insurance and reinsurance marketplace, enabling it to access, underwrite and issue policies for Lloyd’s syndicates.

Hiscox Re and ILS, the reinsurance and insurance-linked securities (ILS) arm of the global re/insurer, has launched FloodXtra, a new U.S. primary flood product, which is designed to help address the flood insurance gap and will enable its ILS investors to access sources of flood risk.