Archive for February, 2020

The U.S. Federal Emergency Management Agency (FEMA) has now secured its upsized target of $400 million of catastrophe bond backed flood reinsurance coverage for the NFIP from its third capital markets issuance, the FloodSmart Re Ltd. (Series 2020-1) transaction.

Indicative pricing for industry-loss warranty (ILW) structured retrocessional reinsurance protection has risen for U.S. and European wind and storm related perils, with some relatively significant increases seen at certain trigger levels.

Australia headquartered global insurance and reinsurance group QBE warned today that parts of the globe risk becoming uninsurable as climate change is forecast to significantly increase claims costs and could make premium rates soar.

Insurance and reinsurance industry losses from the recent Australian bushfires across an hours clause appropriate seven consecutive day period are estimated at nearly A$1.6 billion (almost US $1.1bn) by PERILS AG.

Here are the ten most popular news articles, week ending 16th February 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.

Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal.

Insurance giant AIG has continued to enhance its catastrophe reinsurance program as it looks to take volatility out of its General Insurance business, further optimising its aggregate tower and adding new occurrence towers at the January renewals.

Catastrophe risk modelling firm RMS has come out with its first estimate for insurance and reinsurance industry losses from recent European windstorm Ciara – Sabine, pegging the total at up to EUR 1.8 billion.

Lloyd’s of London appears to have lowered the priority level of its plans for welcome insurance-linked securities (ILS) capital into the insurance and reinsurance marketplace, as three other initiatives from its Blueprint One are set to be the immediate focus.

The latest data on claims and expected industry losses from the ongoing bushfires in Australia shows that the insurance and reinsurance market loss has risen another 15%, to reach A$1.9 billion (around US $1.3bn).