Catastrophe bond, insurance-linked securities (ILS) and reinsurance investment manager Twelve Capital has said that its exposure to the earthquakes in Turkey through private ILS contracts appears “very limited”, with no impact expected to its products.
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According to the final year-end data for the Eurekahedge ILS Advisers Index, an equally weighted index that tracks the performance of 26 constituent insurance-linked investment funds, on average, pure catastrophe bond funds performed the best in 2022, while the gap between the top and bottom performing ILS funds was particularly significant.
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The devastating magnitude 7.8 earthquake that struck southern Turkey this morning is unlikely to have a noticeable effect on the performance of catastrophe bonds, given Turkish quake risk is only a minor component of some retrocessional deals, Plenum Investments has said.
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Property catastrophe reinsurance rates-on-line in Continental Europe rose strongly for the second consecutive year at the January 1st 2023 renewal season, according to the latest data from broker Guy Carpenter.
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Equity analysts at Goldman Sachs see climate change both as a driver of increasing underwriting opportunities for the global insurance and reinsurance market, as well as a key factor that can prolong the current hard market pricing environment.
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Significant fatalities and damage have been reported after Southern Turkey was struck by a major Magnitude 7.8 earthquake this morning close to Gaziantep, near the Syrian border. The US Geological Survey (USGS) gives a 78% chance that the economic impact will reach above US $1 billion.
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Here are the ten most popular news articles, week ending February 5th 2023, 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-linked securities (ILS) and catastrophe bond funds only fell by -2.16% on average for the full-year 2022, despite the significant losses the industry suffered from major hurricane Ian, an Index of ILS fund performance shows.
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Specialist insurance-linked securities (ILS) and reinsurance investment manager Twelve Capital believes the catastrophe bond investment opportunity to be particularly compelling for 2023.
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RenaissanceRe’s CEO Kevin O’Donnell is bullish about his firm’s prospects for 2023, particularly in property catastrophe reinsurance where he expects the reset, higher rate environment will persist throughout the year.
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Nephila Capital, one of the largest insurance-linked securities (ILS) fund management operations in the market, has added $200 million of new capital in time for deployment around the January reinsurance renewals, which took its assets under management to $7.4 billion.
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Selective Insurance Group has now confirmed the size of the reinsurance recovery it will benefit from, to help in paying claims from December’s winter storm Elliott in the United States.
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Australian insurance giant IAG has revealed that it anticipates at least a $114 million reinsurance recovery to help it pay claims from the recent severe flooding that struck the New Zealand city of Auckland.
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Following the enactment of significant property insurance legislative reform in Florida and after giving these reforms time to bed-in, catastrophe bonds covering risks in the state are likely to become even more attractive to invest in, according to Dirk Schmelzer of Plenum Investments.
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