Archive for October, 2018

Insurance firms that underwrite earthquake insurance in Japan are facing almost $1 billion of claims from this years Osaka and Hokkaido earthquakes, according to the latest data from the local insurance association.

OppenheimerFunds, Inc, the investment manager that operates a catastrophe bond strategy and is in the process of launching an insurance-linked securities (ILS) interval mutual fund, is being acquired by investment giant Invesco, with the combined entity set to be a $1.2 trillion powerhouse in asset management.

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist, has successfully secured a new $506 million slice of collateralized reinsurance capacity from the capital markets for its mortgage book, with the issuance of its latest mortgage insurance-linked securities (ILS) deal, Bellemeade Re 2018-3 Ltd.

A new partnership aims to put the powers of technology, big data and financing together to help prevent future famines, by bringing together science and technology to create forecast based financing models that can distribute capital when it is needed, in advance of famine breaking out.

The passage of tropical storm Kirk close to Barbados in October triggered the Caribbean nations parametric rainfall insurance policy under the CCRIF SPC, resulting in a $5.8 million payout.

Global catastrophe risk modeller, AIR Worldwide, has announced the development of a new probabilistic cyber model that market participants state will reinforce their ability to develop and deliver innovative solutions such as cyber ILWs and insurance-linked securities (ILS) for cyber risk.

In order to close the insurance protection gap the world’s oldest insurance and reinsurance market, Lloyd’s of London, says that capital market investment, channeled through insurance-linked instruments, is going to be a key tool to help achieve this.

Hurricane Willa’s minimum central pressure has now risen as the storm has weakened slightly, which puts Mexico’s World Bank supported IBRD / FONDEN 2017 catastrophe bond in the clear as the storm will now not be sufficiently intense when it enters the parametric box to trigger any payout.

Floridian headquartered primary insurer Universal Insurance Holdings is set to pass around $315 million of its losses from hurricane Michael to its reinsurance panel, which includes a healthy amount of collateralized protection from ILS funds and other providers.

Hurricane Willa has intensified on approach to the Pacific coastline of Mexico with its winds reaching Category 5 strength at 160 mph and the central pressure dropping further to 925 mb, increasing its threat to trigger a $110 million Class C tranche of notes from the World Bank supported IBRD / FONDEN 2017 catastrophe bond […]