Aegis London moving into the weather market


A report in Reinsurance Magazine covers a new hire at Aegis London who the story says is being brought in to help launch contingency activities in the London market insurer. The story states that Aegis will soon be offering a range of contingency risk products such as event cancellation, prize indemnity and adverse weather cover.

Aegis has traditionally been an insurer who targeted the energy markets for the bulk of its business, however it now has a diversification strategy in place. Aegis’ energy risk product range includes Climatic RiskSM, a product for energy companies which uses degree days and precipitation patterns to create weather risk management programs. So Aegis certainly has a pedigree and understanding of weather risk management which could enable them to launch weather derivative based products aimed at London insurance market customers. Will this result in derivative based, customisable products or more standard weather insurance programs? We hope the former as London could do with some innovation in the weather risk arena. There’s a great opportunity out there for companies willing to diversify into this area in the London market, particularly those focusing on smoothing earnings through clever application of weather risk management techniques.

Survey imageAlongside our sister publication Reinsurance News, we’ve launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic. Answer our survey here.

Read Covid-19 coronavirus related news & analysis here.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
A new twist; bailout by insurance securitization

Not strictly on topic for Artemis, but worthy of a mention today, is the news that part of the new...