Archive for November, 2021

According to a study undertaken by Aon’s UK Capital Advisory team alongside the Lloyd’s Market Association (LMA), some syndicates at Lloyd’s have been frustrated by the LCM5 catastrophe controls, while not every player has an appetite for third-party capital or to use the London Bridge Risk PCC ILS structure.

The January 2022 reinsurance renewals are said to be significantly behind schedule so far, as firms hold back on committing capacity in the challenged marketplace, according to Arch Capital’s management team.

The Australian Bureau of Meteorology (BOM) has declared La Niña conditions for the Pacific ocean, highlighting that the event could cause weather impacts in Australia and more widely, which has ramifications for insurance and reinsurance market interests.

IncubEx, the financial product and service development firm that counts its founder and Chairman as insurance and reinsurance entrepreneur, former Brit co-founder and now Conduit Re Chairman Neil Eckert, has acquired an insurtech as it targets environmental, sustainable and climate risk solutions.

Covéa Group has now successfully priced its new Hexagon III Re Pte. Ltd. (Series 2021-1) catastrophe bond transaction, but has only managed to secure €153 million of its original €200 million target of capital market backed reinsurance from the deal.

The ILS sector has seen an increased focus on the importance of having a suitable board of directors in place for Special Purpose Insurers (SPI), according to Louise Charleson of Ocorian.

The government of the United States should look to bring the catastrophe bond market onshore, in order to maximise the possible benefits of capital markets participation in insurance and reinsurance, according to John Seo of Fermat Capital Management, LLC.

Insurance and reinsurance broking group Howden has partnered with Everbridge Inc., a provider of event management and warning solutions, to work together with a goal of making parametric risk transfer more useful, speeding payouts and integrating insurance capital into disaster resilience and relief.

For the developing world and countries highly exposed to climate related risks, resiliency and food security need to go hand-in-hand to enable better responses to climate disasters and the African Risk Capacity (ARC) has partnered with the Afreximbank to provide both together.

Recent historical natural catastrophe loss trends are driving an increasing focus on the sufficiency of reinsurance and retrocession, global broker Willis Re explained today.