The work being undertaken by the London Market Group (LMG) and HM Treasury to make London an attractive hub for insurance-linked securities (ILS) is all about ensuring that London remains at the forefront of innovation in insurance and reinsurance and that a level playing field exists.
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The reinsurance industry is awash with capital & capacity, both traditional and alternative, but instead of letting the pressure keep building up, reinsurance broker Aon Benfield says that it can be put to good use by being matched with risks that are currently unaddressed.
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Some high-profile losses, persistent growth pressures and regulatory advances signal rapid growth for China’s reinsurance market in the coming months, not to mention a vast opportunity for insurance-linked securities (ILS) players, advise Moody’s.
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The government of Peru has established a catastrophe insurance facility for the countries farmers, buying a private risk transfer contract to cover around 550,000 hectares of crops, aiming to cover losses up to around $156m.
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Encouragingly the U.S. Department of the Treasury has announced nine senior insurance and reinsurance leaders are to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) and one is an ILS and catastrophe bond expert.
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The influx of alternative capital in the global insurance and reinsurance landscape, from traditional and increasingly capital market sources has caused the sector to experience ‘Uberized’ supply competition, according to reinsurer Aon Benfield.
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As the insurance-linked securities (ILS) sector continues to mature, market participants have an opportunity to collaborate with technology firms to develop tools that can move the industry forward, according to insurance and reinsurance software provider Xuber.
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The protection gap – underinsurance in emerging and developing economies and the gap between economic and insurance losses – has been a hot topic for the world’s leading reinsurance companies and brokers at this year’s Monte Carlo Rendez-vous.
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Latin America has some of the world’s lowest insurance penetration levels globally, a core opportunity for re/insurers. But for insurance-linked securities (ILS) and alternative reinsurance capital the road to meaningful inclusion will likely be longer, but it is expected.
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Reinsurance firm Swiss Re has found something to do with some of its excess capital, putting some of it to work in a new deal for its closed life insurance book arm Admin Re which has acquired Guardian Financial Services for GBP£1.6 billion ($2.5 billion).
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Levels of trading in the secondary market for catastrophe bonds dropped in August, despite global financial market volatility, as the summer holidays hit the appetite to trade and investors looked to hold positions to benefit from seasonal spread tightening.
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ISO and Verisk Insurance Solutions, which includes Property Claim Services® (PCS®), is actively looking into the reinsurance, ILS and risk transfer market’s appetite for exchange trading of catastrophe risks.
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Renewable energy focused underwriting specialists, GCube Underwriting Ltd. (GCube), has launched a new weather risk transfer product for the wind and hydroelectric energy sectors, an area that increasingly reinsurance and insurance-linked securities (ILS) players seek to tap into.
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Rating agency A.M. Best said yesterday that it remains committed to rating hedge fund reinsurance company start-ups and is focused on their credit fundamentals, after considerable market speculation in recent months.
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