With catastrophe bond market returns remaining elevated, the cat bond market index calculated by Swiss Re Capital Markets rose again in the last week, regaining all of the decline seen from hurricane Milton and more, to now stand 0.25% higher than when that storm hit.
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Allocating capital to investments in insurance-linked securities (ILS) can offer investors a significant yield advantage as well as relative value, while ILS market risk premiums still offer one of the most attractive entry points ever, according to Leadenhall Capital Partners.
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Broker Gallagher Re and parametric specialist insurer African Risk Capacity Ltd (ARC Ltd) have together structured and placed a new parametric reinsurance solution to provide responsive financial protection to the UN World Food Programme’s (WFP) operations in the Sahel region.
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According to insurance and reinsurance broking group Aon, global insured natural catastrophe losses in 2024 are likely to exceed the level seen in 2023, with the total already estimated to be above $102 billion.
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The U.S. Federal Emergency Management Agency (FEMA) has reported that policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims so far after recent hurricane Helene.
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This is a final reminder to register for this week’s live insurance-linked securities (ILS) focused webinar on October 31st 2024, in which our industry expert speakers will explore the state of the catastrophe bond and broader ILS market, as well as the outlook for 2025.
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Liberty Mutual, the insurance and reinsurance group, has pre-announced estimated losses of up to $900 million from hurricanes Helene and Milton, but still anticipates delivering an underwriting profit for the next reported period, with its combined ratio forecast to come in around 97% for the third-quarter and first nine months of 2024.
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Insurance and reinsurance broking group Gallagher, through its captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary, Artex, has expanded its services in the Middle East & Africa (MEA) region with the launch of alternative risk management services in the Abu Dhabi Global Market.
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The Acorn Re Ltd. (Series 2024-1) parametric earthquake catastrophe bond issuance has now been priced and its details finalised, with the issuance successfully upsized to provide $450 million of protection, while pricing was fixed below the initial guidance that was offered, Artemis can report.
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Enstar, the legacy and run-off reinsurance specialist, has developed a flexible finality solution for insurance-linked securities (ILS) investors. With the Forward Exit Option (FOE) already put to work in a recent transaction, Anguel Zaprianov explained to Artemis in an interview that its application potential is broad.
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The CEO of Universal Insurance Holdings discussed the impacts of recent hurricanes Debbie, Helene and Milton to the insurer, saying they currently estimate the gross loss from the three storms at between $600 million and $900 million.
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Here are the ten most popular news articles, week ending October 27th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.
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Insurance and reinsurance broker Aon reported today that year-to-date it has seen a 13% increase in catastrophe bond issuance volumes for the deals it has placed, while President Eric Andersen said the company remains agnostic as to form of coverage placed for clients, saying each has its place in the reinsurance capital stack.
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Universal Insurance Holdings, the Florida headquartered insurer, reported that hurricane Helene drove its net loss ratio up in the third-quarter of the year, but its CEO highlighted that its reinsurance retention now drops for a subsequent event, meaning a smaller financial impact expected in Q4, including from hurricane Milton.
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