Archive for December, 2020

The catastrophe bond and related insurance-linked securities (ILS) is set to pass another milestone this week, as Artemis’ data on the cat bond and ILS marketplace will count over $16 billion of annual issuance for the very first time in 2020.

The twin, positive impacts of rising prices and much improved terms means that the hardening market environment isn’t going away anytime soon, suggesting ever-increasing success for the insurance-linked securities (ILS) space, according to Brad Adderley, senior partner in Appleby’s Bermuda office who has been involved in a significant number of ILS transactions.

Tremor Technologies, the insurtech offering a technology-based programmatic insurance and reinsurance risk transfer marketplace, has now exceed $1 billion of limit placed, after it completed a renewal placement of W. R. Berkley’s property catastrophe reinsurance tower.

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, has launched a parametric tropical cyclone insurance product for African nations and Madagascar has become the first to take it up.

The market for longevity swaps and longevity risk transfer has hit forecasted volumes in 2020 despite the implications of the global COVID1-9 pandemic and Willis Towers Watson believes another busy year is ahead in 2021.

According to executives from Bermuda-based reinsurance companies and brokers that met virtually with analysts from KBW, the wave of new private equity backed start-ups are so far being seen to maintain the reinsurance industry’s price discipline as the key January renewals approach.

Here are the ten most popular news articles, week ending 20th December 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.

Florida’s Citizens Property Insurance Corporation has increased its policy count by 28% in just the last 18 months and the insurer expects its growth to continue at an unsustainable rate, which now makes it “the insurer of first resort,” according to its Chairman.

United States life, retirement and annuities insurance and reinsurance company Global Atlantic continues to deploy capital from its co-investment vehicle named Ivy, which operates like a sidecar structure, with the structure participating in an $8.5 billion reinsurance transaction with Unum Group.

According to the General Insurance Association of Japan (GIAJ) insurance market losses from the July 2020 heavy rainfall event that caused widespread impacts and flooding in Kyushu and typhoon Haishen in September add up to around US $1.7 billion.