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U.S. riot losses accelerated & worsened by pandemic: Johansmeyer at ILS Asia 2020

In an extensive and insightful keynote at the virtually held Artemis ILS Asia 2020 conference (now available on-demand), Head of PCS, Tom Johansmeyer discussed a number of Covid-19 loss scenarios, including the potential combined impacts of the virus and strike riot, civil commotion (SRCC) in the U.S. Triggered by the killing read the full article →

ILS an instrumental part of solving Asia’s protection gap: Schultz, Aon Securities

The trend of insured against uninsured losses across the Asia Pacific region is not sustainable, and the insurance-linked securities (ILS) market will need to play an integral role in addressing the issue, according to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities. The Asia Pacific region is extremely vulnerable to read the full article →

Asian risk managers are warming up to parametrics: ILS Asia 2020

There’s still a very real need for greater education and awareness, but risk managers across Asia are becoming increasingly comfortable with the idea of parametric structures, according to industry experts. Parametric insurance continues to expand and is increasingly providing some of the world’s most vulnerable people with vital protection against a read the full article →

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 →