Hurricane loss events that impact a particularly widespread area, even with lower wind speeds, could be the catastrophes that see a much greater degree of loss amplification and inflation due to the ongoing Covid-19 pandemic, according to Karen Clark & Company.
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The current dislocation of the mortgage insurance-linked securities (ILS) market due to the Covid-19 pandemic is likely to cause mortgage reinsurance rates to rise, impacting the originate to distribute model of many mortgage insurers.
Catastrophe bonds are expected to face increasing investor demand over the coming months, as during the Covid-19 pandemic these instruments have “showcased” their benefits to global investors once again, according to S&P Global Ratings.
Specialist London market insurance and reinsurance firm Beazley has successfully raised around $300 million through an equity placement designed to fund growth, enable it to capitalise on rates and help it respond to the Covid-19 pandemic.
Insurance-linked securities (ILS) fund managers and reinsurance companies managing third-party capital are likely to see continuing volatility in terms of investor inflows and outflows, as the broader implications of the Covid-19 pandemic continue to emerge.
Timing of the full launch of Lodgepine Capital Management Limited, the recently established retrocessional reinsurance ILS fund management unit of Markel Corporation, may be impacted by the effect of Covid-19 on global investor allocation decisions, the company said recently.
With valuation of insurance-linked securities (ILS) and collateralised reinsurance investments already a process that requires significant expertise, the threats posed by the Covid-19 pandemic add more complexity to setting fair valuations, Horseshoe’s JB Crozet told us.
The collateralised reinsurance sidecar market and private quota share transactions entered into by insurance-linked securities (ILS) funds and investors may face the highest impacts from Covid-19 pandemic related claims, A.M. Best has said.
There is an early consensus emerging on the size of the insurance and reinsurance industry loss from the Covid-19 coronavirus pandemic, with the broad range now focused on being $30 billion to as much as $100 billion, according to broker Willis Re.
The sale of global reinsurance company PartnerRe to French insurance group Covéa has been called off, after attempted renegotiations over the price with seller EXOR in the wake of the Covid-19 pandemic failed to find an agreement.