Archive for September, 2022

The eventual losses from typhoon Nanmadol in Japan is likely to be a significant event for Japanese primary insurers, Twelve Capital believes, while the investment manager also notes that some reinsurance layers are likely to trigger on the back of the storm.

Typhoon Nanmadol made landfall in southwest Japan in the Kagoshima region of Kyushu yesterday. While winds were reported as high as 150 mph, in terms of gusts, Nanmadol noticeably weakened, with rainfall, flooding and landslides appearing the main threats.

Hurricane Fiona has impacted Puerto Rico heavily with the island experiencing a historic rainfall event, as two-foot of rains are forecast from the storm, with locally maximum amounts of up to 30 inches warned.

Here are the ten most popular news articles, week ending September 18th 2022, 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.

Typhoon Nanmadol is a potentially significant Japanese industry loss threat for insurance and reinsurance market interests, while meteorologists are warning it could be more impactful than recent damaging typhoons Jebi and Hagibis.

Acrisure Re, the reinsurance broking unit of the Acrisure group has hired Alex Orloff as a Managing Director of its Acrisure corporate advisory and solutions division (ARCAS) North America, who brings experience in reinsurance investing, insurance-linked securities (ILS) and investment analytics.

A true reinsurance hard market may be around the corner, particularly in US property lines such as coastal wind exposed towers, with inflation a key driver and expected to result in a need for as much as $20 billion of new capacity to soak up demand at the renewals.

The calculation agent for the Philippines government’s World Bank issued IBRD CAR 123-124 catastrophe bond has now completed its full analysis on the impacts of tropical storm Megi (locally known as storm Agaton), finding that neither the wind nor rain parameters have triggered any payout from the bond.

Update: See our more recent article on typhoon Nanmadol. While tropical storm Fiona may be concerning some, given the uncertainty in its eventual path, on the other side of the globe typhoon Nanmadol is seen as a relatively significant Japanese loss threat by insurance and reinsurance market interests.

With recent forecast model runs it appears the uncertainty over where tropical storm Fiona heads over the next week has risen, with more models showing a closer path to the United States, and fewer preferring the track through the Atlantic near Bermuda.