Archive for April, 2019

The U.S. Federal Emergency Management Agency’s (FEMA) has expanded its flood reinsurance program for the National Flood Insurance Program (NFIP) to $2.12 billion in size, thanks to the successful completion of the $300 million FloodSmart Re Ltd. (Series 2019-1) cat bond issuance.

French reinsurance giant SCOR has expanded its underwriting of catastrophe reinsurance treaties in Japan and elsewhere during the April renewals, growing premiums underwritten at SCOR Global P&C by almost 10%.

Industry losses have continued to rise from the December hail storm that struck the Sydney and surrounding area of Australia, with the latest tally of an insurance and reinsurance bill for the event rising to A$1.271 billion (US $915m).

PERILS AG, the industry loss data provider, has estimated the insurance and reinsurance market property loss from European windstorms Draghi and Eberhard at just EUR 740 million.

Capital and capacity is expected to be in abundance at the upcoming mid-year reinsurance renewals, but the management of it is expected to be more conservative, which could help to hold up rates, analysts suggest.

French headquartered investment bank and service provider BNP Paribas and Milliman, a leading provider of consulting services and benefit administration, were both instrumental in the delivery of the first insurance-linked securities (ILS) transaction to be governed by French law.

Discussions on the use of insurance, reinsurance and capital market products for disaster risk financing are rising up the agendas of international meetings focused on the Asia-Pacific region.

TP ICAP group, the world’s largest interdealer broker, has a new offering of weather derivatives, having hired two experienced weather risk market professionals in Nicholas and Eric Ernst.

Arch Capital Group Ltd. is returning to the capital markets for its second mortgage insurance-linked securities (ILS) transaction of 2019, a $621 million Bellemeade Re 2019-2 Ltd. transaction.

Nephila Capital, the largest insurance and reinsurance linked investment manager, nearly doubled the amount of premiums underwritten through its Lloyd’s of London Syndicate 2357 in full-year 2018.