Archive for September, 2024

Early estimates of insurance industry losses for hurricane Francine are coalescing around the $1 billion mark to a maximum $3 billion, with the majority expected to fall to primary insurers with larger footprints in Louisiana.

According to equity analysts at RBC Capital Markets, hurricane Francine is expected to be a manageable loss for the property and casualty insurance industry, while little in the way of loss impact is expected for the reinsurance market.

Aeolus Capital Management Ltd., the specialist insurance-linked securities (ILS) and reinsurance investment manager, has strengthened its business development and investor relations team with the hiring of former Blackstone and PIMCO executive Maya Henry.

One of the takeaways from the Monte Carlo Rendez-Vous this year is that brokers are calling on reinsurance companies and ILS funds to provide more support for their clients frequency loss exposures and while the markets are in the main not overly keen, there is going to be more capital available to support this, including […]

As alternative capital in the reinsurance industry is expected to continue to grow, despite this Moody’s Ratings is not expecting any significant impact to pricing or policy terms for the rest of 2024 and in 2025, believing discipline will remain key for the ILS market.

A hailstorm that struck the Calgary area of Canada in August 2024 is now the second-largest insurance industry loss event in the country’s history at C$2.8 billion, according to CatIQ.

More Australian pension super funds have begun allocating to insurance-linked securities (ILS), according to Bloomberg, as the publisher names Rest Super and Host Plus as allocating to the space. Artemis has learned that Rest Super has invested with manager Twelve Capital for catastrophe bonds.

CelsiusPro and New Zealand based primary insurance group Tower continue their partnership on a parametric Pacific cyclone insurance product, with an upgraded technology platform now supporting product distribution and administration of the JTWC data powered parametric insurance solution.

Having recently raised new funding to expand its offering, the Demex Group, a risk analytics and intelligence company that facilitates climate and catastrophe peril parametric stop-loss reinsurance protection, has announced a new Advisory Board with three well-know industry executives joining it.

Francine was upgraded to a hurricane last night and the sixth named storm of the 2024 Atlantic hurricane season has strengthened to sustained winds of 100 mph and now heads for landfall in Louisiana, where reinsurance broker Gallagher Re anticipates insured losses in the low single digit billions of dollars.