Archive for January, 2020

As the January 2020 reinsurance renewals fast approached the two issues of trapped ILS capital and dented retrocessional capacity proved not to be as big or impactful as anticipated, with the market still managing to clear, partly thanks to the increased appetite and re-entry of large traditional players.

The new international multi-peril 3264 Re Ltd. (Series 2020-1) catastrophe bond transaction that is being sponsored by global reinsurance firm Hannover Re looks likely to upsize by 50% to become a $150 million issuance.

U.S. commercial property insurance rates continued to accelerate, in terms of rate firming or hardening, towards the end of 2019, with December seeing the highest monthly rate increases of the year.

For the first time in the history of the annual World Economic Forum’s Global Risks Report all of the top five global risks in terms of likelihood are related to climate change and environmental issues.

U.S. and global primary insurance carrier and reinsurance company Chubb has announced an expected fourth-quarter pre-tax and net of reinsurance hit of $430 million from catastrophe losses and an additional $23 million of losses from U.S. agricultural lines which were hit be weather-related poor growing conditions.

Netherlands headquartered global life insurance company, annuities provider and pension investment manager Aegon is shuttering its dedicated ILS investment operations and will run-off the current portfolio of risks it had invested in during 2019, we can report.

Jon Hancock, the Lloyd’s of London insurance and reinsurance market’s Performance Management Director is to step down in 2020 with no replacement for his position currently named.

There is now just a few weeks to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020. Here’s our latest update on speakers, our updated agenda and more details on who you can meet on the day.

The $350 million Frontline Re Ltd. (Series 2018-1) catastrophe bond transaction, that was sponsored by U.S. primary insurer Frontline Insurance in 2018, has seen one tranche trade at almost rock-bottom pricing on the threat of losses from hurricane Michael hitting the attachment point.

Tremor Technologies Inc., the programmatic insurance and reinsurance risk transfer marketplace provider, believes that through the use of technology such as its own the reinsurance placement process can be made much faster and more accurate, with better outcomes possible for both sides of the deal.