Archive for July, 2021

Big news in the insurance and reinsurance broking world as Aon and Willis Towers Watson (WTW) said they have terminated their combination, or merger agreement, effectively cancelling Aon’s acquisition plans to become the largest player in the market.

The fact foreign donors paid for the premiums associated with Jamaica’s first catastrophe bond does not mean it was a “handout” the country’s Minister of Finance has explained.

Bermuda based reinsurance firm and third-party capital manager RenaissanceRe has reduced its exposure to aggregate contracts this year, something that applies both to its own portfolio and to its Upsilon collateralized reinsurance and retrocession structure.

After several years of rate and term improvements, notably in the property catastrophe arena, there are signs the market is levelling off. But generally, returns in the insurance-linked securities (ILS) market remain attractive, according to industry experts.

Here are the ten most popular news articles, week ending 25th July 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.

The California Climate Insurance Working Group has issued a report detailing 40 state and local policy recommendations covering resilience building and risk transfer, with an over-arching theme that suggests innovative climate insurance and risk transfer is required, especially integrated solutions that consider communities alongside risk reduction.

If Singapore and Hong Kong are able to establish themselves as valuable domiciles for insurance-linked securities (ILS) business, it should spur local reinsurers to develop capabilities as the investor base swells in tandem.

Economic losses from the recent severe flooding across Europe is likely to exceed US $10 billion according to insurance and reinsurance broker Aon, a figure we expect will end up being eclipsed once all the losses are counted across the impacted regions.

Regular readers know we love a parametric trigger where the data inputs are sensor-derived and located on-site for the insured or covered party. Hailios is doing this for hail coverage, an area where significant gaps in insurance protection are often evident.

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriter, has reported improving performance for its Smart Tracker special purpose arrangement (SPA) syndicate 5623 and now plans to house a new ESG focused consortium under the same Market Facilities unit.