Archive for June, 2020

The Government of Guatemala has benefited from its parametric disaster insurance coverage under the CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) as the countries parametric excess rainfall insurance was triggered by tropical storms Amanda and Cristobal.

We’ve just published our latest video interview which features executives from independent insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager Twelve Capital.

Analysts from investment bank Berenberg have said that they believe global claims for the insurance and reinsurance industry due to the Covid-19 pandemic will be manageable, estimating a range from $50 billion to $70 billion for the total bill.

Research led flood risk model developer Fathom has launched a new U.S. flood model that provides 100% nationwide coverage and incorporates the ability to look at how climate change could impact flooding, as well as how changing hurricane behaviour may affect losses.

UnipolSai Assicurazioni S.p.A., the Italian primary insurance company, has returned to the catastrophe bond market to sponsor a new European earthquake catastrophe bond, with an Azzurro Re II DAC (Series 2020-1) transaction that targets at least EUR 100 million of reinsurance protection against quake losses for the insurers’ Italian portfolio.

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, is expected to take majority control of windstorm focused primary insurance group Weston Insurance Holdings Corporation, after a recent capital restructuring and increased investment in the carrier.

Throughout the current crisis, the catastrophe bond marketplace has once again shown its resilience and ability to perform differently to the broader capital markets, according to Cory Anger of GC Securities.

1347 Property Insurance Holdings, Inc. has appointed Larry Swets as its interim Chief Executive Officer (CEO), to lead the company through its transition towards a strategy focused on reinsurance and investment management.

HSCM Bermuda Management Company, the insurance and reinsurance investment business entity of asset manager Hudson Structured Capital Management Ltd., has recapitalised an auto insurer to support the expansion of ride share and sharing economy focused insurtech Buckle.

The Covid-19 pandemic has compounded an already firming reinsurance market environment at the renewals, causing challenges in completing placements and driving double-digit Florida rate increases, according to Guy Carpenter.