Archive for December, 2019

Leading international insurance and reinsurance firm MS Amlin, part of the MS&AD group, has exited a number of lines of UK P&C business, as it focuses on global reinsurance, global specialty and domestic European specialty underwriting.

The market is increasingly confident that industry losses from recent Japanese typhoon Hagibis and also 2018’s typhoon Jebi will ultimately stabilise below the top-end of estimates, good news for those that reserved conservatively and for those for who Jebi loss creep has been a significant issue.

Reinsurance giant Swiss Re has made increasing use of third-party sources of capital this year, as pricing rose and its appetite for natural catastrophe risks increased.

Insurance giant American International Group (AIG) has a new President, as its current Global Chief Operating Officer of and Chief Executive Officer of General Insurance Peter Zaffino takes on additional responsibilities.

RenaissanceRe, the Bermuda-headquartered global reinsurance firm and one of the biggest users of third-party capital within its business, is expected to capitalise on the retrocession market opportunity being seen this renewal season.

Australian headquartered insurance and reinsurance group QBE has issued a warning that it expects elevated attritional losses in U.S. property and North American crop business due to adverse weather conditions and hail.

The innovative Sierra Ltd. (Series 2019-1) catastrophe bond deal, that seeks parametric U.S. earthquake protection for an investment manager’s portfolio of mortgage related assets, has a new upsized target, now aiming to secure up to 50% more, or $225 million, of coverage for the sponsor.

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather.

Price inflation is both present and substantial in reinsurance program placements, as the traditional process of a brokered execution can result in misaligned market incentives, according to programmatic insurance and reinsurance risk transfer marketplace insurtech Tremor Technologies Inc.

Reinsurance, specialty and wholesale broking group Ed continues to build its Bermuda market platform, adding another experienced hire in Mark Simons, who joins the firm to lead business development and production on the island.