Archive for March, 2020

European windstorm Victoria, also known as storm Dennis in the UK, is estimated to have cost the insurance market at least EUR 286 million, according to PERILS AG.

Property and casualty insurance and reinsurance underwriter Sirius International Insurance Group, Ltd. has launched a formal sales process, after its parent China Minsheng agreed to the sale.

The capital buffers of some of the largest reinsurance companies have been significantly shrunken by the financial market declines seen in the last few weeks because of the Covid-19 coronavirus outbreak, potentially reducing their ability to weather any major catastrophe events that occur.

Insurance and reinsurance market losses from severe storms and flooding that impacted the eastern coastal region of Australia at the beginning of February are now estimated to have reached A$677 million by the Insurance Council of Australia (ICA).

Here are the ten most popular news articles, week ending 29th March 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.

Catastrophe bond market liquidity appears to have slowed towards the end of this week, evidenced by one of the latest bid lists of cat bonds available for sale failing to fully trade, suggesting a perhaps growing gap between buyer and seller price targets.

Alongside our sister publication Reinsurance News, we’ve launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic.

Primary insurer American Integrity Insurance Company (AIIC) has proven itself the most consistent catastrophe bond sponsor among Floridian carriers since 2017, according to Cory Anger.

Obsidian Insurance Holdings, Inc., has been launched as a new fronting insurance holding company with $100 million of capital, that aims to become a conduit to connect risk with reinsurance and alternative capital.

Blenheim Underwriting, the Lloyd’s focused insurance and reinsurance underwriter that counts ILS specialist Nephila Capital as a key backer, is launching a managing agency which will help the company better manage the connection of its risks to a wide range of capital providers.