Archive for December, 2018

A number of the world’s leading reinsurance firms are aiming to underwrite more retrocession at the upcoming January 2019 renewal season, as they view the retro market as an opportunity, given the impact trapped collateral may have on the availability of retro capacity at 1/1.

U.S. primary insurance giant Chubb has provided an estimate of its expected losses after reinsurance from the recent California wildfires and has also updated on its expected losses from hurricane Michael.

There is the potential for the 2019 reinsurance renewals to hold a “surprise to the upside,” according to ILS investment manager Twelve Capital, who suggests that rates may be better than the market currently anticipates after the major losses of recent months.

While everyone had originally said that 2017’s catastrophe losses were providing the first real test of insurance-linked securities (ILS) investors and structures, according to Dirk Lohmann, Chairman and CEO of Secquaero Advisors Ltd., it is actually 2018 that is the real test for the ILS market.

Increased use of quota shares as a way of ceding catastrophe losses to sources of reinsurance and retrocession led the way in Bermuda in 2017, as re/insurers domiciled in the marketplace ceded more of their losses last year.

Last weeks announcement of a major cyber hack attack and resulting data breach of one of the Marriott hotel chain’s reservation systems is expected to lead to a significant cyber insurance and possibly reinsurance market loss, leading Property Claim Services (PCS) to designate the event.

An earthquake struck around 12 kilometres to the north of Anchorage, Alaska on Friday 30th November, causing widespread damage to infrastructure and an expectation of thousands of minor incidences of property damage as impacts to homes were also widespread, although not expected to result in severe losses.

The Woolsey wildfire in southern California is estimated to have caused at least a $2.5 billion insurance and reinsurance industry loss by catastrophe risk modeller AIR Worldwide.

Here are the ten most popular news articles, week ending 2nd December 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.