Archive for May, 2018

Catastrophe risk modelling and analytics specialist RMS has announced the launch of a new and updated high-definition risk model for Japanese earthquake and tsunami risks, which incorporates the latest seismic map data as well as learnings from the Tohoku and Kumamoto quakes.

U.S. property & casualty insurance giant Travelers is returning to the capital markets with a new $300 million Long Point Re III Ltd. (Series 2018-1) multi-peril catastrophe bond transaction, the insurers first in three years and a transaction that will renew, replace and extend the reinsurance coverage from its maturing 2015 cat bond deal.

Premiums underwritten and investment income earned by Validus Holdings from its AlphaCat Managers Ltd. insurance-linked securities (ILS) and third-party reinsurance capital arm were up in the first-quarter, as AlphaCat’s assets under management passed a new high of $3.66 billion.

Lloyd’s of London said today that the Chief Financial Officer of the insurance and reinsurance market John Parry will be departing next year, as he steps down from a position where he has been instrumental in helping Lloyd’s open up to alternative capital and ILS.

With the major losses of 2017 largely behind the sector, the insurance-linked securities (ILS) market has tasked itself with becoming a trusted trading partner for ceding companies in their time of need, with the way the market recapitalised and traded forwards evidence that alternative capital continues to come of age, according to S&P.

Tropical weather and risk analytics provider Climate Forecast Applications Network (CFAN) has boasted of more accurate hurricane track forecasts for 2017’s active wind season than were provided by the ECMWF weather model or the National Hurricane Center.

In a recent speech, the Minister of Finance and the Public Service for Jamaica, Dr. Nigel Clarke, explained that the country needs better disaster risk financing structures in place, with catastrophe bonds cited as one option that may be suitable.

An increase in estimated losses from last year’s hurricane Irma has dented the first-quarter results of Blue Capital Reinsurance Holdings Ltd., but the manager of the vehicle is confident in the portfolio underwritten at renewals this year and expects higher rates to deliver stronger returns.

U.S. primary military mutual insurer USAA is set to secure a $300 million multi-year and multi-peril source of fully-collateralized reinsurance through the issuance of its latest catastrophe bond Residential Reinsurance 2018 Ltd. (Series 2018-1), with pricing that has settled below the initial spread guidance.