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Atmos Re cat bond is “innovative earnings protection” for UnipolSai: WTW

The securities division of reinsurance broker Willis Re, Willis Towers Watson Securities (WTW Securities), which acted as the lead structuring agent and bookrunner for the recently completed €45 million Atmos Re DAC catastrophe bond transaction, has said that the deal provides its sponsor with innovative earnings protection.As shown by the read the full article →

AXIS secured more third-party capital in a difficult market at 1/1: CEO Benchimol

Albert Benchimol, the President and Chief Executive Officer (CEO) of Bermudian insurer and reinsurer AXIS Capital Holdings Limited, has said that the firm should be proud of the fact it was able to increase its use of third-party reinsurance capital support at the January 1st, 2019 renewals.Speaking during the re/insurer's read the full article →

Marriott hack insurable loss potential is as much as $600m

The estimated total insurable loss for the recent cyber hack attack and resulting data breach of one of the Marriott hotel chain’s reservation systems will be between $200 million to as much as $600 million, according to AIR.The risk modeller made its first public estimate under its new cyber modelling read the full article →

ILS NYC 2019 speaker update: World Bank and Red Cross to join

We're delighted to announce further additions to the agenda for our next conference, as the World Bank and the International Federation of the Red Cross join the speaking roster of our February 1st 2019 insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2019.We’re delighted to announce these highly read the full article →

Hurricane Michael loss estimate raised by Corelogic, now up to $5bn

Catastrophe risk modelling specialist Corelogic has increased its estimate for the wind and storm surge related insurance industry loss from hurricane Michael, adding half a billion to each end of its estimate range, making it $3 billion to $5 billion.That still sits quite far below the industry loss estimate from Karen read the full article →

PCS aims to help understanding of the silent side of cyber risk: Johansmeyer

The enhancement of the PCS Global Cyber Index to include cyber catastrophe is in response to client demand, and is another positive step in helping the international risk transfer industry both understand and address the growing cyber threat.PCS Global Cyber, a loss aggregation service that offers industry loss estimates for read the full article →

U.S. insured convective storm losses pass $11bn so far in 2018

Insurance and reinsurance sector losses from severe convective storms in the United States have already passed $11 billion in 2018 as of the middle of August, making this the eleventh consecutive year that thunderstorms, tornadoes, hail and related perils from convective weather have driven double-digit impacts.According to the latest data read the full article →

Risk trading start-up Akinova signs former CEO of Euroclear as advisor

Digital risk trading start-up Akinova, which is developing an "electronic marketplace for the transfer and trading of (re)insurance risks," has signed up Pierre Francotte, the former CEO of Euroclear as an advisor.Akinova has been in development for more than a year now with a focus on creating a platform allowing read the full article →

AXIS’ Northshore Re II 2018 cat bond target rises to $200m as pricing drops

Bermuda-based specialty insurance and reinsurance firm AXIS Capital Holdings Ltd. has lifted the target size for its new Northshore Re II Ltd. (Series 2018-1) catastrophe bond to as much as $200 million, while at the same time the coupon offered to investors has fallen and will settle at the bottom read the full article →

Munich Re redeems another tranche of Eden Re sidecar notes early

Reinsurance giant Munich Re has redeemed another tranche of notes from its Eden Re series of collateralized reinsurance sidecar issuances early, which may again be related to the loss activity of 2017's hurricanes and other catastrophe events.Munich Re's Eden Re sidecar series was hit by the catastrophe events of 2017, read the full article →