Archive for August, 2020

Over the weekend the wildfires burning in California have continue to expand, with two of the lightning complex fires now in the top three largest California wildfires on record, while losses due to property damage from the fires are increasing.

The Gulf Coast states of Louisiana and Texas are facing a challenging double storm landfall threat this week, with tropical storm Laura expected to be a large and dangerous hurricane when it nears the coast late on Wednesday, while tropical storm Marco is more likely to remain at storm strength but soak the area in […]

Here are the ten most popular news articles, week ending 23rd August 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.

Paul Schultz, Chief Executive Officer (CEO) of Aon Securities, expects to see different types of sponsors increasingly enter the insurance-linked securities (ILS) marketplace in Asia and also around the globe.

AP3, the Swedish state sector pension fund, has increased its portfolio of insurance-linked securities (ILS) and reinsurance related assets to around $640 million in size by the end of 2019, up approximately 6% on the prior year.

The United States, in particular the Gulf Coast, is under a double hurricane threat currently, with storms Laura and Marco expected to be named in the coming hours and the forecast showing a potential double-hit to the Gulf Coast region around Texas to Louisiana.

Wildfires in California have roughly doubled in size in the last 24 hours, with significant spread and new property damage, while fire officials warn that further expansion of the area burned is to be expected over another dangerous day or more ahead.

Following the increased severity and frequency of wildfires, droughts and floods in recent times, the undeniable impact of climate change on water-related catastrophes is starting to get priced in and risk premiums are adjusting, according to Niklaus Hilti, Head of Credit Suisse’s Insurance-Linked Strategies division.

U.S. primary insurance giant Allstate has recorded a significant $450 million PG&E related subrogation on claims related to the California wildfires, which is the figure reported by the carrier net of reinsurance adjustments.

Specialty insurance and reinsurance group Lancashire Holdings is looking to expand its book in the current hard market conditions, with more property catastrophe risk expected to be underwritten and the firms first foray into underwriting casualty lines in 2021.