Insurance Linked Investments

Non-life insurance is becoming unprofitable and without significant improvement in underwriting margins, global reinsurance firm Swiss Re says that insurers will fail to deliver sustainable returns.

Reinsurance & ILS demand is expected to rise, but price is key, we found in our first global market survey. Reinsurance News and Artemis have teamed up to take the temperature of the global reinsurance market at what is a key time for the industry.

Artemis spoke with Sean Bourgeois, Founder and CEO of insurance technology (InsurTech) start-up Tremor Technologies, Inc., to discuss its mission to create an open, technology-driven, programmatic marketplace for reinsurance risk placement.

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) is set to grow its risk pool again with the addition of a new member in St. Maarten, which takes the number of members of the facility to 20 countries – 19 Caribbean governments and 1 Central American government.

Insurance and reinsurance broker Aon has announced a reorganisation of the Global ReSpecialty leadership, with Bob Bisset stepping into a new role of UK Growth Leader at Aon, while Peter Stubbings has been hired from Guy Carpenter to replace him as CEO.

The two main California wildfires that burnt in recent weeks, the Carr and Mendocino Complex wildfires, have between them already resulted in over $845 million of insurance claims, according to the local Commissioner.

Japan and its insurance industry may be facing billion of dollars of losses from the impacts of yesterday’s magnitude 6.7 earthquake in Hokkaido and recent typhoon Jebi, which was the strongest storm to hit the Japanese mainland in 25 years.

Occam Underwriting, the specialty lines-focussed managing general agent (MGA) that was previously known as Sciemus, has appointed Dr Alan Punter, who was formerly the CEO of Aon Capital Markets Ltd. to its Board.

A newly launched unit at global insurance and reinsurance brokerage Aon will target under-insurance opportunities, helping clients including governments to address insurable protection gaps, in work that will include close cooperation with the Aon Securities capital markets and ILS team.

It was further growth of the alternative reinsurance capital and insurance-linked securities (ILS) market that drove an increase in overall reinsurer capital at the end of the first-half of 2018, according to Willis Re, but this comes against a backdrop of further deterioration for underlying reinsurer returns-on-equity (RoE’s).