Archive for September, 2018

The insurance and reinsurance market-wide loss from recent hurricane Florence’s impacts in the Carolina’s and surrounding region of the United States is expected to be in a range from $2.8 billion to as much as $5 billion and this is including an NFIP flood insurance claims estimate.

Any doubts surrounding the durability of alternative structures have largely been put to bed after ILS’ response to 2017 events. And while there’s been no surprises so far in 2018, the ongoing maturation and evolution of the sector suggests investors won’t be completely decimated by losses.

The July flooding in Japan caused by extreme levels of rainfall has now resulted in almost $1.5 billion of insurance claims paid, according to the latest figures from the General Insurance Association of Japan (GIAJ).

The insurance and ultimately reinsurance market loss caused by the damage to and resulting production shutdowns of the Kwame Nkrumah FPSO (floating production, storage and offloading) vessel operating on the Jubilee oil field, Ghana continues to rise thanks to ongoing business interruption.

Insurance claims paid following the shallow magnitude 5.3 earthquake that struck the Osaka prefecture area of Japan in June 2018 now total almost $770 million (JPY 86.6bn), according to the countries insurance association.

The Lloyd’s of London insurance and reinsurance market has recognised that there are constraints to the way capital can move in and out of the marketplace, leading the Corporation to reveal that it is exploring options to transform the capital framework that underpins it.

A new catastrophe bond transaction has been launched to the market and the SD Re Ltd. (Series 2018-1) transaction is set to become the second California wildfire cat bond covering third-party liability costs, benefiting utility firm Sempra Energy and subsidiaries.

Here are the ten most popular news articles, week ending 23rd September 2018, 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 or get our email alerts for every article we publish.

Cyber risk offers the ILS markets a massive opportunity, albeit one with plenty of challenges attached, thinks Niklaus Hilti, Head of Credit Suisse’s insurance-linked securities (ILS) division.

A new Florida domiciled property and casualty insurance company start-up has been launched by United Insurance Holdings (UPC Insurance) in partnership with Tokio Marine Kiln, which will help the firms expand their footprint and exposure in the state.