Archive for December, 2018

Hong Kong continues to work towards establishing a local market for insurance-linked securities (ILS), with the regulator and government working together to develop the necessary legislation to support ILS vehicle domiciling and transactions, with a target to get it into the 2019-20 legislative session.

Direct incurred insured losses from the recent Camp and Woolsey wildfires in California have already passed $9 billion, according to the state Insurance Commissioner.

Artemis recently spoke with Adam Bornstein, Global Financial Innovation Specialist, International Federation of the Red Cross and Red Crescent, about the use of catastrophe bonds to finance refugee and migration response, a funding gap currently not addressed through normal humanitarian assistance.

U.S. primary insurance giant Allstate has already paid over $1.2 billion in gross claims from the recent devastating California wildfires, but on a net basis after reinsurance recoveries and reinstatements the company estimates its loss from the Camp and Woolsey Fires at $670 million before tax.

Everyone thought it would take a really significant single loss, or an aggregation of numerous catastrophes that drove significant impacts in a single year, to change the trajectory of pricing. 2017 wasn’t big enough to do it alone. But now that the market has suffered $200 billion of losses, there are rising hopes for positive […]

Pricing for industry-loss warranty (ILW) backed retrocessional reinsurance protection has not shifted significantly since the aggregation of recent catastrophe loss events, with brokers still pitching capacity at the same rates as prior to the wildfires, sources have told us.

Two tranches of Nationwide Mutual’s Caelus Re V Ltd. (Series 2018-1) catastrophe bond have been marked down in the secondary market due to market expectations they could face losses from the recent California wildfires.

Bermuda domiciled re/insurance, run-off and legacy specialist Enstar Group has partnered with global insurer Allianz SE and investment manager Hillhouse Capital Management to launch a new reinsurer, Enhanzed Reinsurance Ltd. (Enhanzed Re).

Blue Capital Reinsurance Holdings Ltd., the stock exchange listed, collateralized reinsurer owned by Sompo International Holdings Ltd., has pre-announced its fourth-quarter 2018 catastrophe losses.

Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics company for casualty re/insurers, has claimed that the company’s approach to disease litigation may create an opportunity for ILS to enter into the casualty space.