Archive for March, 2022

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched a new climate appraisal service that is designed to provide an assessment of climate-driven risk and provides an input to help companies hedge their climate exposure.

The catastrophe bond and insurance-linked securities (ILS) investment market has robustly demonstrated some of its key traits through February 2022, with the general lack of correlation and largely inflation-proof returns both evident during a time of significant capital market and equity market stress.

The insurance-linked securities (ILS) market and its capital base continues to be a disruptive force across insurance and reinsurance, with robust impacts and also benefits to the wider industry, according to executives from Truist Securities.

Insurance, reinsurance and insurance-linked securities (ILS) markets hoping that some of Florida’s legislative actions targeted at reforming the challenged property insurance market might pass this year, look set to be disappointed again.

A magnitude 7.3 earthquake struck off the eastern coast of Japan near the Fukushima prefecture in the last hour, with authorities raising a tsunami advisory for possible waves of up to 1 metre and buildings swayed in the capital Tokyo.

Australian primary insurance giant Suncorp said this morning that it is treating the recent severe flooding in Australia as four events for reinsurance purposes and that it expects to trigger its aggregate catastrophe reinsurance, its drop-down protection and the main catastrophe excess-of-loss tower.

The UK’s top regulator recognises that the insurance-linked securities (ILS) regime in the country has faced challenges since its launch and wants to evolve the system to make for swifter and easier issuance conditions, to attract more ILS and catastrophe bond activity to be transacted there.

Universal Insurance Holdings, the Florida headquartered primary insurance carrier, has announced some significant senior leadership changes, the most notable being the hiring of rival Heritage’s Arash Soleimani as Chief Strategy Officer.

The North Carolina Insurance Underwriting Association (NCIUA) has lifted the upper-end target for its new Cape Lookout Re Ltd. (Series 2022-1) catastrophe bond issuance, with the deal now expected to close at up to $350 million in size.

U.S. primary insurer Safepoint Insurance Company has returned to the catastrophe bond market in search of $125 million or more in named storm reinsurance protection across its key US states, with a Manatee Re II Ltd. (Series 2022-1) cat bond for which it has returned to Bermuda to issue.