Archive for January, 2025

Autonomous Research has raised its estimate for insurance and reinsurance market losses from the Los Angeles, California wildfires to $25 billion and the research firm believes as much as $18 billion of the total may come from the Palisades fire alone.

Altor Re Ltd, a new London based brokerage that specialises in placing insurance-linked securities (ILS) and reinsurance business globally, has officially been launched by founder Raj Jadeja. 

According to Thad Hall, Partner and Head of insurance-linked securities (ILS) Solutions at Augment Risk, the risk capital and reinsurance solutions broking firm, the ongoing growth trend with alternative capital is expected to continue throughout 2025, given the high returns for ILS relative to other assets.

Northern Reinsurance SPC, Ltd. (Northern Re), a collateralized reinsurance company with a focus on providing investors access to the returns of its long-tail casualty underwriting business, has announced the hiring of former Munich Re executive Amin Touahri as it looks to advance its casualty ILS strategy.

The question of potential recoveries from subrogation of claims has emerged in relation to the ongoing wildfires in Los Angeles and Southern California, with electrical utility Southern California Edison in focus as questions arise over whether its equipment may have caused any of the fires.

We are delighted to reveal the final wave of speakers for our upcoming catastrophe bond and insurance-linked securities (ILS) conference. Artemis ILS NYC 2025 is being held in New York on February 7th. Tickets are still available but selling fast, so please register soon to ensure you can join us at the event.

Insured catastrophe losses in Canada reached CAN $8.5 billion for full-year 2024, making it the largest loss year for the country on record, exceeding the previous record of CAN $6.2 billion recorded in 2016, according to CatIQ, Canada’s insured loss and exposure indices provider.

Analysis from ICEYE, the provider of satellite data and services to inform decision-making and analysis, suggests that more than 10,900 buildings have likely been destroyed by the Palisades and Eaton wildfires in Los Angeles County.

Global reinsurer Hannover Re has appointed Angela Jaramillo as an Associate Underwriter within its Capital Markets and insurance-linked securities (ILS) team.

Moody’s Corporation has agreed to acquire CAPE Analytics, a provider of geospatial AI intelligence for residential and commercial properties across the United States, Canada, and Australia.