Archive for November, 2021

After another year of significant catastrophe loss activity, relative performance is set to be the important measure amongst ILS managers, and for 2022, Securis Investment Partners sees an opportunity to target retrocession, which it believes is ripe for reimagining.

Global insurance and reinsurance group Allianz confirmed that the severe flooding in Europe in July has resulted in a €400 million operating profit impact to its results this morning, suggesting around €700 million of flood losses were recovered from its reinsurance partners.

ICEYE, a provider of satellite data for decision-making and analysis, and McKenzie Intelligence Services (MIS), a geospatial information, insurance and reinsurance intelligence provider, have teamed up to deliver portfolio-level property loss estimates for flood events to the Lloyd’s market.

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has announced the formation of Arbol Underwriters Ltd. (AUL), a registered insurance agent based in Bermuda, that will focus on matching reinsurance capacity with parametric insurance risks.

After raising its insurance-linked securities (ILS) assets under management (AuM) by roughly 16% in the first eight months of this year, SCOR Investment Partners (SCOR IP) continues to see attractive opportunities across the sector, according to Sidney Rostan, Head of ILS, SCOR IP.

Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) insurtech, has made another key hire, taking Amit Shah from Ariel Re as its new Chief Distribution Officer.

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, believes the reinsurance market will be unrecognisable a few years from now, as participants move towards trading more efficiently with the help of its software.

PartnerRe, the Bermuda headquartered reinsurance company that is currently EXOR owned, but subject of a sale to Covea Group, has managed to report a positive technical result across its non-life business despite significant losses from hurricane Ida and the European flooding.

Given the heavy catastrophe loss activity and the challenges this has placed on some alternative capital market players, it is too early to tell how the retrocessional reinsurance renewals may pan out, according to Munich Re CFO Christoph Jurecka.

The Insurance Task Force (ITF), an initiative working as part of His Royal Highness The Prince of Wales’ Sustainable Markets Initiative (SMI), is exploring the potential for catastrophe bonds to play a role in a resilience focused Kenyan agricultural insurance solutions to cover drought risks.