Archive for October, 2024

Analysis from ICEYE, the provider of satellite data and services to inform decision-making and analysis, has shown that almost 185,000 buildings in Florida were impacted by hurricane Milton’s flooding.

The Florida Retirement System Pension Plan, which is administered by the Florida State Board of Administration, increased its allocations to natural catastrophe insurance-linked securities (ILS) in advance of the mid-year 2024 reinsurance renewals, but has adopted a more cautious stance for 1/1 as it assesses whether the hard market is declining.

SageSure, the catastrophe exposed and coastal property managing general underwriter that has now brought eight Gateway Re catastrophe bonds to market on behalf of its underwriting entity partners, has announced the appointment of former Guy Carpenter CEO Peter Hearn to its Board of Managers.

Bill Dubinsky, CEO of Gallagher Securities, has highlighted that a key challenge for the insurance-linked securities (ILS) market heading into next year will be sustaining the growth momentum seen in 2023 and 2024, given a certain amount of activity this year was deals brought forward that would have otherwise naturally occurred in 2025.

With catastrophe bond market returns remaining elevated, the cat bond market index calculated by Swiss Re Capital Markets rose again in the last week, regaining all of the decline seen from hurricane Milton and more, to now stand 0.25% higher than when that storm hit.

Allocating capital to investments in insurance-linked securities (ILS) can offer investors a significant yield advantage as well as relative value, while ILS market risk premiums still offer one of the most attractive entry points ever, according to Leadenhall Capital Partners.

Broker Gallagher Re and parametric specialist insurer African Risk Capacity Ltd (ARC Ltd) have together structured and placed a new parametric reinsurance solution to provide responsive financial protection to the UN World Food Programme’s (WFP) operations in the Sahel region.

According to insurance and reinsurance broking group Aon, global insured natural catastrophe losses in 2024 are likely to exceed the level seen in 2023, with the total already estimated to be above $102 billion.

The U.S. Federal Emergency Management Agency (FEMA) has reported that policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims so far after recent hurricane Helene.

This is a final reminder to register for this week’s live insurance-linked securities (ILS) focused webinar on October 31st 2024, in which our industry expert speakers will explore the state of the catastrophe bond and broader ILS market, as well as the outlook for 2025.