Archive for September, 2020

Fitch Ratings has reviewed a number of outstanding mortgage insurance-linked securities (ILS) deals sponsored by Bermuda-based insurance and reinsurance group Arch Capital Group, noting the substantial increase in mortgage delinquencies due to the Covid-19 pandemic.

Insurance and reinsurance broker and risk advisory Aon has warned today that re/insurers and pension funds need to avoid over-reacting to how inclusion of COVID-19 deaths changes recognised mortality models, saying that “longevity risk has not gone away.”

FedNat Holding Company, the U.S. primary insurance carrier group, has warned that it expects its losses from recent hurricane Sally will trigger another hurricane-related reinsurance recovery for the firm.

Insurance and potentially reinsurance market losses from the ongoing wildfires across western U.S. states are now estimated to have reached between $4 billion to as much as $8 billion, by catastrophe risk modeller RMS.

Florida headquartered, expansive catastrophe exposed primary property insurer United Insurance Holdings (UPC Insurance) has estimated its losses from recent tropical storm, hurricane and other catastrophe activity.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, has announced the hiring of Andrew Souter, to the role of Director of Markets.

David Brown, Chairman and interim CEO of Bermuda-based reinsurer Hamilton Re, has said that reinsurers should be looking for “better pricing and better terms” at the end of year renewals.

Demand for property catastrophe reinsurance could increase at the key January 2021 renewals according to broker Aon, as the trend of insurance carriers better protecting themselves following the pandemic may continue.

PartnerRe, the Bermuda headquartered and EXOR owned reinsurance company, has announced the appointment of Nicholas Hughes as Head of Retrocession, alongside the additions of Aaron Coates from Twelve Capital and Guy Hengesbaugh, formerly of Guy Carpenter Bermuda.

Globally, the life insurance-linked securities (ILS) space is gaining momentum and in Asia specifically, the risk/return profile appears to be improving, according to Luca Tres, Head of Life, Securis Investment Partners.