Archive for October, 2018

Insurance carriers reviewed by Demotech all have the capital and reinsurance backing that is required for them to respond to claims in the wake of hurricane Michael, a storm that may have caused as much as $15 billion to $20 billion of insured losses according to the firm.

Typhoon Jebi’s impacts in Japan were always going to be a catastrophe loss event that would drive a modest amount of claims to some ILS funds and collateralised reinsurance vehicles, but with estimates rising for the industry impact, the expectation of ILS market losses is increasing as well.

International specialty insurance and reinsurance firm Argo has pre-announced $25 million of losses from third-quarter catastrophe events and given the firms shift towards originating risk for third-party investors it seems some of its capital partners will have taken a share of the firms gross losses.

Bermuda headquartered reinsurance and insurance firm Everest Re has pre-announced an estimate for third-quarter catastrophe losses, saying that it expects events including hurricane Florence, the California wildfires, typhoon Jebi, typhoon Trami and the Japan floods to cost $240 million.

International insurance giant American International Group (AIG) has continued to pass on a share of its catastrophe losses to its reinsurance panel and looks set to continue doing so through the rest of this year, as its third-quarter loss bill is up to $1.7 billion and Q4 starts with up to $500 million from hurricane […]

Activity in the collateralized quota share reinsurance sidecar space lifted following the major losses of 2017 and with $2.9 billion of limit secured through sidecar deals in the year to June 30th 2018 Aon notes that this “demonstrates the opportunity that both sponsors and investors see following catastrophe events.”

Two of the largest U.S. primary insurance companies have surprised analysts with lower than expected catastrophe losses for the month of September 2018, but across the third-quarter as a whole it is Allstate who has experienced the highest loss bill.

Aurous Risk Partners has been launched as a new reinsurance focused managing general agency (MGA) that aims to maximise efficiencies and premium return, by connecting risks with the most suitable capital, including alternative or capital markets sources.

Prudential Retirement, part of Prudential Financial, Inc., says that the UK pension risk transfer market is experiencing healthy growth, as signalled by its closing of a further $3.2 billion of longevity reinsurance deals in recent months.

Risk capital advisory and reinsurance broker TigerRisk Partners LLC has announced the hiring of well-known London market retrocession broker Jonathan Hughes from Aon.