Archive for September, 2019

Today we’re delighted to announce the first wave of expert speakers for our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020. Please register soon to secure your ticket at the best possible price.

It’s neither helpful nor sustainable if the only effect of alternative reinsurance capital is to push down rates. Instead, as an industry we should leverage capital markets-backed capacity to grow the pool of insured risks, hence expanding the protection we can offer, says the Chief Executive Officer (CEO) of Allianz Re, Amer Ahmed.

Estera, a global service provider to reinsurance and insurance-linked securities (ILS) markets, has announced the hiring and appointment of Sonal Patel as its new Managing Director, Head of Sales – Americas, Bermuda and Caribbean.

An index-based livestock insurance program has paid out to almost 3,000 smallholder farmers in Ethiopia, after its parameters were breached by satellite data inputs, triggering payouts of the drought protection the scheme provides.

Recent severe rainfall induced flooding in southeastern Spain is expected to cause an insurance and reinsurance industry loss of over US $318 million, while the economic loss could exceed US $1.83 billion, according to a division of Aon.

The reinsurance market has faced a fundamental gap between the softening of prices and actual loss experience over the last decade, a gap that has now begun to close but needs to narrow further, according to Torsten Jeworrek of Munich Re.

Domestic insurance industry losses from recent Japanese Typhoon Faxai are anticipated to reach a similar level to 2018’s Typhoon Trami, according to the General Insurance Association of Japan (GIAJ).

ILS investors have had a significant reaction to two years of major natural catastrophe events where losses increased from initial estimates. Hurricane Irma and last year’s Typhoon Jebi have led to an “emotional reaction” according to Niklaus Hilti, Head of Credit Suisse’s insurance-linked securities (ILS) division.

Nephila Capital, the largest investment manager of insurance and reinsurance linked securities (ILS) and weather risk assets, is working with financial technology software and service provider Phinsys on the launch of its Lloyd’s managing agency.

Two of the leading Japanese primary insurance carrier groups have revealed an expectation that Typhoon Faxai will cause them each around US $1 billion of gross losses.