Archive for October, 2018

Hurricane Michael has resulted in almost $1 billion of insurance claims already, based on data filed by insurers and collected by local regulator the Florida Office of Insurance Regulation (FLOIR).

Among the three key stakeholder groups in the insurance-linked securities (ILS) market, cedants (both insurance and reinsurance), ILS fund managers and ILS end-investors, enthusiasm for the asset class as well as the protection it offers hasn’t waned, despite recent loss activity.

Global reinsurance firm Hannover Re said that its E+S Rückversicherung AG unit, which looks after underwriting business in Germany, is expecting some reinsurance rates to increase at the January 2019 renewals.

Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG), which has a recognised ILW broking practice, is to be acquired by fellow broker Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW).

RKH Reinsurance Brokers (RKH RB), part of the global Hyperion Insurance Group, has hired Dave Saxton from Steadfast Re to its London operations, we have learned, a move which brings additional treaty, ILS and collateralised market broking expertise to the firm.

As the reinsurance industry meets in Baden-Baden this week two factors are seen as key developments, the wave of consolidation and the urge to be bigger to enhance relevance, as well as having control of the value chain, from customer to capital.

The industry loss to insurance and reinsurance interests from hurricane Michael is estimated to be somewhere between $6.8 billion and $10 billion by RMS, with the majority driven by wind damage to residential properties.

Catastrophe data aggregator PERILS AG has upgraded its European windstorm industry loss forecasting software tool and expanded it to cover Australian tropical cyclones as well.

Here are the ten most popular news articles, week ending 21st October 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.

Insurance-linked securities (ILS) are well positioned to meet emerging demand from the ECIS region (Western Balkans, Southern Caucasus, Eastern Europe and Central Asia), although certain challenges must be addressed in order to stimulate issuance, according to global catastrophe risk modeller, RMS.