Archive for September, 2019

Property Claim Services (PCS), is enhancing its PCS Global Marine & Energy insurance industry loss data aggregation and index service by breaking it down into lines of business, to enhance granularity in reporting and facilitate more focused risk transfer decisions.

Here are the ten most popular news articles, week ending 8th September 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.

The insurance and reinsurance industry loss estimate for the combined market-wide impacts of European windstorms Dragi and Eberhard has now been reduced to EUR 772 million (US $850m) by PERILS AG, down from its last estimate of EUR 798 million.

Losses borne out of major natural catastrophe events in 2017 and 2018, including Cyclone Jebi in Japan last year and the record-breaking California wildfires, has limited the supply of “high-volume, cheap retrocession” according to Torsten Jeworrek, member of the board of management, Munich Re.

Reinsurance rates and pricing remain only just sufficient to support ILS and growing reinsurance linked investments for those for whom the asset class is core, but should rates continue to rise further inflows from additional investors can be expected.

The reinsurance industry faces an ongoing evolutionary change of its business model and a continued abundance of capital, which is driving home the need for new revenue streams to be found, as value creation for clients remains key.

The catastrophe bond market is forecast to spring back to life later this year, with a “very strong” pick up in issuance expected, according to Aon’s Paul Schultz.

CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility) is set to payout almost $11 million to the Bahamas after hurricane Dorian triggered its parametric tropical cyclone insurance policy.

Broking giant Aon has announced the launch of auction technology which it is making available for clients to use at the upcoming January 2020 reinsurance renewals.

Horseshoe, the Bermuda-headquartered ILS and reinsurance management and fund administration, servicing, and risk transformation specialist, has rebranded to reflect its partnership approach to its clients, CEO Andre Perez said.