Archive for September, 2022

Envelop Risk, a cyber underwriting company with a data-driven approach, has announced the launch of a Capital Markets unit, as it looks to partner with insurance-linked securities (ILS) funds alongside its own reinsurance vehicle.

Gallagher Re, the reinsurance arm of the Gallagher broking group, has announced the hiring of senior meteorologist Steve Bowen from rival Aon, as it builds-out its scientific arm.

The insurance and reinsurance industry loss from the severe flooding that struck eastern regions of Australia in February and March 2022 has now been hiked significantly by PERILS AG, with its latest loss estimate now pegging the event at nearly AU $6.3 billion (roughly US $4.33bn).

Japanese fire insurance premiums, which are the prevalent type of homeowner and commercial insurance policy in the country, are likely to rise as insurers grapple with rising climate risks and the fallout of natural catastrophe losses, according to Moody’s.

Speaking in Monte Carlo today, senior executives of Swiss Re discussed the cyber reinsurance market and said while they are cautious and currently don’t see it suiting the capital markets appetite right now, they are working on ways to develop cyber risk transfer options that could be transferred to ILS investors.

In working with third-party capital investors, Vantage Risk Ltd., the almost two year’s old Bermuda headquartered insurance and reinsurance company, sees it as important to help mitigate challenges investors have faced with traditional ILS products.

Leaders at Lockton Re, the reinsurance arm of the global broker, have said they are expecting additional third party capital players to enter the space next year, who may have been watching the market develop from the sidelines in recent years.

After a banner year for its insurance-linked securities (ILS) business in 2021, large European reinsurer Hannover Re says that market volumes in 2022 appear to be holding steady as the firm forecasts market growth going forwards.

Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has announced another significant hire, bringing on more reinsurance and ILS market expertise in the form of Julia Henderson, who joins the company as its Chief Commercial Officer (CCO).

The first more public cyber insurance-linked securities (ILS), or cyber catastrophe bond deal cannot be far away, panellists concluded at an ILS roundtable hosted by global reinsurance firm Munich Re in Monte Carlo this morning.