Archive for January, 2020

Yesterday we covered the outbreak of severe convective weather, thunderstorms, large hail and flooding across a swathe of southeast Australia and already the industry insured losses from these storms has been estimated at A$320 million.

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, has announced the hiring of Brad Sforza, previously of PartnerRe, to the role of Head of Property Reinsurance for its U.S. reinsurance platform.

The recently launched to investors Stratosphere Re Ltd. (Series 2020-1) catastrophe bond that will provide coverage to the largest ILS fund manager in the market Nephila Capital, could only be triggered by losses causing the manager a roughly 15% to 25% hit to assets.

While the ongoing bushfire crisis in Australia has dropped out of the headlines a little in recent days, thanks to rainfall and cooler temperatures, parts of the country have faced fresh catastrophe events as significant severe convective storms and very large hail struck a number of major urban areas over the last few days.

Zenkyoren (the Japanese National Mutual Insurance Federation of Agricultural Cooperatives), which is one of the world’s largest buyers of reinsurance protection, has returned to the insurance-linked securities (ILS) market with Nakama Re Ltd. (Series 2020-1), seeking another slice of catastrophe bond backed coverage from the capital markets.

At a time when Australian has been sweltering in record heat while bush fires burned out of control, then suffering from severe storms, a recent study seeks to quantify the effect of climate variability on farm profits in the country.

Here are the ten most popular news articles, week ending 19th January 2020, 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.

A World Economic Forum (WEF) initiative focused on responses to humanitarian risk is investigating areas where catastrophe bonds may prove valuable tools for risk sharing with private markets and investors, according to a United Nations representative.

Severe weather, including winter storms, severe thunderstorms and tornadoes, across the United States last week are expected to drive economic losses of more than $1 billion, while hundreds of million of insured losses are possible as wind damage is expected to largely be covered.

The amount of insurance-linked securities (ILS) capital and collateral that is still trapped after recent catastrophe loss years has fallen only slightly, as some cat bond collateral in particular was released but fresh collateralised reinsurance and retro collateral was trapped by 2019 loss events.