Archive for March, 2023

One tranche of the FloodSmart Re catastrophe bond program has had its maturity extended to allow for further development of the NFIP’s flood insurance losses from hurricane Ian, Artemis has learned.

The recently launched cyber catastrophe bond from specialist insurer and reinsurer, Beazley, is a welcome innovation and an important addition to insurer’s “armoury against systemic risk,” according to Julian Miller, a London-based Partner at law firm DAC Beachcroft.

Hannover Re, a major player in insurance-linked securities (ILS) market facilitation through its fronting and risk transformation activities in collateralised reinsurance and catastrophe bonds, booked a $900 million piece of its gross loss from hurricane Ian related to that business.

Insurance and reinsurance market losses from the severe convective storm (SCS) peril in Europe are starting to run a little ahead of losses from the more widely accepted European peak peril of extratropical windstorms, according to data from Aon’s Impact Forecasting.

The global reinsurance market is going through a seismic shift, making it one of the most attractive markets in over a decade, Hiscox Group CEO Aki Hussain said yesterday.

Global reinsurance firm Hannover Re expects to utilise a significant amount of its catastrophe loss budget for the first-quarter of 2023 due to the claims from the earthquakes affecting Turkey and the flooding and weather affecting New Zealand.

The analyst team at KBW led by Meyer Shields had more great insight to share in a recent report, that despite rates being so much higher in reinsurance, it is going to be the delivery of actual strong results that encourages more capital into the space, not forecasts of expected returns, while Florida renewals are […]

The U.S. Federal Emergency Management Agency (FEMA) has hailed the successful completion of its latest catastrophe bond despite the difficult market environment, after the FloodSmart Re Ltd. (Series 2023-1) deal secured it $275 million of flood reinsurance for the NFIP.

Global reinsurance firm Hannover Re has reported an underwriting profit for its property and casualty reinsurance business for full-year 2022, despite large losses coming out above budget for the sixth year in a row.

Having completed another collateralised stop-loss transaction, to bring more efficient capital into its business, Swiss Re may be nearing the limits of its appetite for this type of arrangement, while the sophistication required means not every reinsurer could replicate this deal.