Archive for October, 2019

Our latest wildfire update can be found here. California continues to be beset by dangerous fire weather conditions, with some of the strongest winds yet possible from Tuesday into Thursday, while the current wildfires are estimated to have put some $25 billion of property at severe risk of damage already.

A catastrophe bond (IBRD CAR 123-124) has been launched to the market seeking to secure risk transfer and disaster insurance protection for the Philippines, with the World Bank supporting the country in securing a capital markets backed source of capacity for catastrophe loss events.

Cincinnati Financial Corporation’s aggregated catastrophe and severe weather losses continued to rise through the third-quarter of 2019, with the total after deductibles now reaching reach 79% of the way to the trigger attachment point of its $180 million Skyline Re Ltd. (Series 2017-1) catastrophe bond.

Steadfast Re, the reinsurance broking joint-venture operation of the Steadfast Group, has hire well-known former JLT Re London broker Dan Bailey to a role focused on leading the production of traditional and collateralised business.

As the market moves towards the January 1st renewals season and into 2020, the insurance-linked securities (ILS) space needs to learn and educate on the reserving process and go through a phase of rebuilding, according to industry experts.

Private equity and alternative investment specialist Apollo Global Management has taken an enlarged stake in Athene Holding Ltd., the life and retirement reinsurance firm that it already majority-owned, while investment commitments for its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar vehicle have risen to $3 billion.

Investment banking and asset management giant Credit Suisse has hired Jason Bolding, formerly of broker Aon’s capital markets and insurance-linked securities (ILS) team, to fill a newly created role of Head of ILS, United States.

Update: Our latest on the current wildfire outbreaks can be found here. Dangerous fire weather conditions are forecast to continue over the coming days, which threatens to help the growing Kincade wildfire expand even further and has caused the evacuation of close to 180,000 residents.

Here are the ten most popular news articles, week ending 27th October 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 updatesor get our email alerts for every article we publish.

Adoption of alternative forms of capital by insurance and reinsurance cedants is expected to continue growing, as more expect to increase their use of alternative capital than expect to reduce it, Moody’s recent reinsurance buyers survey shows.