The frequency of catastrophe events is on the rise across the U.S. and Canada while the severity of adverse weather events during the first nine months of 2015 declined year-on-year, according to Property Claim Services (PCS).
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New capital entering the insurance and reinsurance industry has a tendency to go where it is quickest and easiest for it to be deployed, hence the pressure on U.S. national and large account property business, according to Travelers CEO Jay Fishman.
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The energy sector is increasingly vulnerable to the impacts of extreme weather events around the globe, highlighting a need for greater innovation and adoption of reinsurance & risk transfer solutions to mitigate potential losses and build sector resilience.
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Stone Ridge Asset Management is launching a new insurance and reinsurance linked securities (ILS) fund, with a strategy focused on providing investors a way to capitalise on opportunities after large catastrophic events cause market dislocation.
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As the world becomes increasingly complex and digitalised there is a need for insurance, reinsurance and ILS players to embrace cross-sector cooperation in order to create the products of the future, according to Munich Re.
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The insurance-linked securities (ILS) market continues to see increasing total insurance and reinsurance linked assets under management, but the growth is at a more steady rate and largely into more illiquid products, notes Willis Capital Markets & Advisory (WCMA).
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As the new European regulatory standards’ adoption moves ever closer, with Solvency II regulation set for January 1st 2016, S&P has said that it should result in higher reinsurance demand, which could mean more opportunity for insurance-linked securities (ILS).
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Demand for reinsurance coverage in Germany is expected to increase overall at the key January 1st 2016 treaty renewal season, with increased frequency of catastrophe events a key driver, according to leading reinsurer Hannover Re.
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Chile is the latest sovereign government that is reportedly looking to a catastrophe bond issuance, providing a responsive source of disaster risk insurance or financing, as part of a goal to become more responsible about disaster and weather risk management.
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One measure for catastrophe bond pricing shows that cat bond investors reached the bottom of their risk appetite around 18 months ago, since which catastrophe risk adjusted spreads have been rising, but at the same time, the global reinsurance market continues to search for its floor.
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Persistent pressures in the global reinsurance market signal a continuation of the merger and acquisition (M&A) trend currently sweeping through the industry, leading Stephen Catlin, of XL Catlin, to urge those involved in M&A activity to do so for more than just scale.
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Reinsurance broker Willis Re wants to help its insurer clients to enhance their views of global catastrophe risks, with a new dual approach to catastrophe risk modelling and risk analytics, something that would also benefit insurance-linked securities (ILS) investor or fund managers.
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One of the world’s largest reinsurance firms Munich Re, has underlined the growing sponsor base of insurance-linked securities (ILS) following strong issuance during the third-quarter, with an expectation that public entities will increasingly look to participate in the catastrophe bond market.
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At the upcoming key January reinsurance renewal period, where many of the world’s major reinsurance program terms, conditions and prices are renegotiated and renewed, prices may decline by more than -10%, according to broker Guy Carpenter.
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