Archive for April, 2020

Transverse Insurance Group, the program and fronting firm that aims to help reinsurance capacity providers including insurance-linked securities (ILS) funds and investors to access risk more directly, has had its second fronting carrier rated.

European windstorm exposures, as measured by insured property values, have risen to almost €60 trillion in 2019, an increase of 4.1% on the prior year according to the latest data from PERILS AG.

Ascot Group, the specialist global insurance and reinsurance underwriter, has announced the appointment of Jonathan M. Zaffino as Group President, who will join the company once he finishes his contractual obligations with current employer Everest Insurance.

London headquartered insurance-linked securities (ILS) and reinsurance related investments manger, Leadenhall Capital Partners LLP, is keeping a close eye on potential direct exposures to the Covid-19 coronavirus outbreak, with the key focus for the firm being the business interruption issue.

For our third Artemis Live audio and video interview I had the pleasure of discussing the state of the market with Paul Schultz, CEO of Aon Securities, the capital markets, investment banking and insurance-linked securities (ILS) structuring arm of the insurance and reinsurance broker.

Payments from the World Bank’s Pandemic Emergency Financing Facility (PEF) to member countries of the International Development Association (IDA) could begin as early as next week, as the capital lost by holders of the triggered pandemic catastrophe bonds and swaps looks set to be mobilised rapidly.

AXIS Capital, the Bermuda headquartered specialty insurance and reinsurance company, has revealed an expectation that the Covid-19 pandemic will drive some $235 million of losses, the majority of which will be in its property book.

Insurance and reinsurance broker Aon has revealed a raft of pay cuts affecting its staff around the globe, as well as other expense saving initiatives, all of which reflects the expectation that the broking industry may face particularly acute pain as a result of the Covid-19 economic slowdown.

Institutional investors are generally looking to stick with their private market allocations, despite the dislocation caused to financial markets by the Covid-19 coronavirus pandemic, with sources of return that exhibit lower correlation seen particularly favourably, a survey by Eaton Partners found.

The Association of British Insurers (ABI) has estimated that UK insurance companies face around £1.2 billion of losses due to the Covid-19 pandemic, but analysts said this figure is likely to rise and the number does not include losses falling to the Lloyd’s market.