Archive for September, 2019

Reflecting on the successful return of his company to the catastrophe bond market in 2019, Christian Mumenthaler, the CEO of reinsurance firm Swiss Re, explained that the reinsurer has always shown a commitment to the ILS market.

The first parametric agricultural insurance programme has been launched in Cameroon, by AXA Cameroon and AXA Climate in collaboration with the World Bank Group’s Global Index Insurance Facility (GIIF).

The use of insurance-linked securities and third-party reinsurance capital is a “strategic component” of the business model for reinsurer PartnerRe, its CEO told us.

Hurricane Dorian is estimated to have caused an industry insured loss of $5.23 billion by catastrophe risk modeller Karen Clark & Company (KCC).

Capacity for retrocessional reinsurance is expected to remain tight at the upcoming January 2020 renewal season, but will still prove sufficient, Graeme Moore, CEO Willis Re Speciality expects.

A third year of sizable catastrophe losses could see some ILS investors exit the market and “change the capital market mechanism”, according to Michael Millette, founder and managing partner of Hudson Structured Capital Management.

The continued availability of insurance-linked securities (ILS) capital in 2019 highlights the “strategic partnership” between sponsors and capital markets investors, according to reinsurance firm Swiss Re.

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, sees its expanding insurance-linked securities (ILS) and third-party capital capabilities as complementary to its core underwriting strategy, CEO Pina Albo explained to us.

Everyone in reinsurance, from major reinsurance firms to the smallest insurance-linked securities (ILS) player, is anticipating further rate firming at the January 2020 renewals, with Hannover Re among the latest to join the calls for higher priced protection.

Hurricane Dorian is estimated to have caused a wind and storm surge related insurance industry loss of between $3.5 billion and $6.5 billion in the Caribbean and Bahamas by catastrophe risk modelling specialists RMS.