Archive for October, 2022

Aon has hired former Lombard Odier and Credit Suisse ILS specialist Marc Brogli as a Managing Director, Insurance Linked Securities based in Dublin, Ireland.

Two of Australia’s largest insurers have both slashed their reserve provisions for business interruption claims from the COVID-19 pandemic after last week’s test case ruling.

Analysis of catastrophe bond and insurance-linked securities (ILS) market pricing in the wake of hurricane Ian implies a significant hard market is ahead, with issuance multiples perhaps needing to rise by 20% to 30%, according to Lane Financial LLC.

Even with the losses from hurricane Ian hanging over the insurance-linked securities (ILS) market, Liechtenstein-based private bank VP Bank AG maintains an overweight view on the asset class and sees the rising premiums to come as an “entry opportunity” for investors.

Florida’s property insurer of last resort Citizens Property Insurance Corporation said Friday that it is now estimating a hurricane Ian claim-count of around 100,000, down dramatically from its earlier assessment of a burden of over 225,000 claims being anticipated.

A capacity crunch in property catastrophe reinsurance is becoming “ever more likely” according to analysts at Peel Hunt, but importantly they highlight that even at the estimates for the level of industry losses it will cause, hurricane Ian should still fall within the sectors risk appetite.

Here are the ten most popular news articles, week ending October 16th 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.

On the final day of the 2022 Convergence event in Bermuda, experts from across the insurance-linked securities (ILS) sector explained that, despite the challenges of recent years, there are opportunities out there.

A new preliminary prospectus for an ESG focused exchange traded fund that will invest in insurance-linked securities (ILS) and reinsurance-linked assets that have exposure to climate risk has been launched by Impact Shares, an ESG focused investment operator.

Barry Gilway, the CEO of Florida’s property insurer of last resort Citizens Property Insurance Corporation, told analysts at KBW that his current best-estimate for the insurance industry loss from hurricane Ian is just $40 billion.