Archive for September, 2020

Global reinsurance firm Hannover Re has been quietly expanding its activities in the insurance-linked securities (ILS) space for some time, as a key facilitators for collateralised transactions and acting as a front for certain ILS funds and investors.

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriting business, has increased its estimate of the cost of Covid-19 claims for its first party business by 100% to $340 million, net of reinsurance, in light of the evolving status of the pandemic crisis.

Arch Insurance International, a wholly owned subsidiary of Bermuda headquartered insurance and reinsurance firm, Arch Capital Group, Ltd., has announced the launch of Arch Managing Agency Limited.

Insurtech start-up FloodFlash, which offers an innovative sensor-based approach to support parametric flood insurance triggers, is scaling up its offering with the help of major reinsurance carriers to provide protection to larger corporations.

Specialty insurance and reinsurance player Brit Ltd. is targeting further growth of its insurance-linked securities (ILS) activities, with expansion of the Sussex Capital platform anticipated, according to Chris Denton.

A working group of the Indian insurance and reinsurance regulator IRDAI has proposed the creation of a parametric Indian Pandemic Risk Pool, which could use pandemic bonds as part of its capacity.

The insurance and reinsurance industry loss estimates for recent hurricane Sally are coming in thick and fast, with catastrophe risk modeller AIR Worldwide now releasing an official estimate for insured losses of between $1 billion and $3 billion.

Onshore property losses for the private insurance and reinsurance market from recent hurricane Sally are estimated at just $2 billion by catastrophe risk modeller Karen Clark & Company.

After an impactful month of August, analyst firm Jefferies believes that insured catastrophe and weather losses are running above average and that for most insurance and reinsurance firms they will now be ahead of budgets in 2020.

An estimated 75% of households in the Asia Pacific region will face financial stress in the event of the death of the main breadwinner, according to research from Swiss Re.