Archive for March, 2019

Increasing losses from the December hail storm in Sydney and the surrounding area of Australia has hiked the overall insurance and reinsurance bill for summer catastrophes that have been designated in the country to A$2.2 billion (US $1.57bn).

An early 2019 hurricane season forecast from suggests this year could see a little less Atlantic tropical storm related activity than normal overall, but the recently begun El Niño events strength and persistence is expected to be a major factor here.

Norsk Hydro, one of the world’s largest aluminium manufacturing firms, was hit by a cyber attack recently, as malware or ransomware caused the company to shutter and reduce operations at a number of locations.

Insurance Acquisition Corporation has successfully raised almost $151 million for the launch of a so-called blank check company that will be led by John Butler and target acquiring insurance, reinsurance and insurtech operations.

Mozambique has been hit by one of the worst natural disasters to ever strike the country, after cyclone Idai barreled into its coastline and drenched the region, resulting in hundreds of deaths and significant devastation.

One tranche of U.S. primary insurance giant Allstate’s latest Sanders Re II Ltd. (Series 2019-1) catastrophe bond has been pulled and won’t be issued, while the higher risk layer has remained at $300 million in size and its pricing has moved to the top-end of initial guidance.

Here are the ten most popular news articles, week ending 24th March 2019, 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.

RenaissanceRe (RenRe), the Bermuda based reinsurer, third-party reinsurance capital and ILS investment manager, has now completed its $1.5 billion acquisition of Tokio Millennium Re (TMR).

Insurance and reinsurance companies are on the “front line of managing the physical risks from climate change” and are now aware that “yesterday’s tail risk is closer to today’s central scenario,” according to Mark Carney, Governor Bank of England.

Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) start-up that aims to enhance the way re/insurers fund their risks using securitisation and tech, has added a new Advisor to its team.