Archive for January, 2021

A European Commission study looking at the insurability of nuclear third-party liability risks (NTPL) and availability of capacity to support them, found that insurance-linked securities (ILS) market capital would be available, under the right structures and terms.

Flood risk insurtech company FloodFlash, which offers an innovative sensor-based approach to support parametric flood insurance triggers, has beaten its own record on rapid claims payment, paying out to one policyholder within ten hours for the impacts of flooding during UK storm Christoph.

The industry sees a high chance that in order for Aon’s acquisition of rival Willis Towers Watson to go ahead, divestment will be required and a sale of reinsurance broking unit Willis Re is seen as a likely outcome.

The global catastrophe protection gap reached 64% in 2020 as roughly $171 billion of natural catastrophe and severe weather losses were not covered by insurance and reinsurance, one of the largest brokers Aon has said.

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, won a new investment mandate from the roughly $20 billion City of Zurich Pension Fund in recent weeks.

Here are the ten most popular news articles, week ending 24th January 2021, 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.

Our readers forecast more than $12 billion of catastrophe bond issuance in 2021, which would see the market setting a new record. But in terms of which area of insurance-linked securities (ILS) is likely to grow fastest, the collateralized reinsurance market is forecast to outpace cat bond market growth this year.

The World Bank has approved $500 million of funding for Indonesia to help the country enhance its financial response to natural disasters, climate risks, and health-related shocks, with the use of risk pooling, and insurance or reinsurance instruments at the heart of the plan.

SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, is planning for its retrocession program to be “sidecar-like”, the company said.

Arch Capital, the Bermuda headquartered specialty insurance and reinsurance group, has pre-announced an expectation that it will report up to $165 million of catastrophe losses from events in the fourth-quarter of 2020.