Here are the ten most popular news articles, week ending 21st February 2021, 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.
Read the full article
Catastrophe risk modelling specialist Karen Clark & Company has updated its estimate for insurance and reinsurance market losses from the ongoing winter storm event in the United States, which has been named winter storm Uri, to $18 billion, reflecting the widespread and severe impacts felt.
Read the full article
The insurance and reinsurance industry is likely to experience a “transition year” in 2021, as its recovery from the impacts of the COVID-19 pandemic continues, alongside reducing exposure to it from property and casualty (P&C) contracts, analysts at RBC have explained.
Read the full article
Counterparty risks are back on the agenda in the insurance and reinsurance market, as part of carriers and regulators heightened concerns over credit risks and creditworthiness, which could serve to make fully-collateralized reinsurance through insurance-linked securities (ILS) even more appealing to ceding companies.
Read the full article
The Philippines will have a new private sector catastrophe insurance risk pooling facility in operation this quarter, with the initial launch of the Philippine Catastrophe Insurance Facility (PCIF) expected in Q1 2021.
Read the full article
The ongoing winter storm event in the United States, named winter storm Uri, is thought likely to become the largest winter storm loss on record for the insurance and reinsurance industry, while the Texas insurance regulator said it could have a bigger impact than hurricane Harvey.
Read the full article
Global reinsurance giant Swiss Re reported its full-year 2020 results this morning, highlighting $3.9 billion of losses from the COVID-19 pandemic and $1.7 billion from what it called a higher frequency of natural catastrophe events.
Read the full article
Universal Insurance Holdings, the Florida headquartered, nationally expansive primary insurance carrier, announced last night that it has taken a nearly $100 million hit from catastrophe losses and loss creep from prior year events during the fourth-quarter of 2020.
Read the full article
American International Group’s (AIG) reinsurance program has undergone a critical evolution over the last year with a range of changes now made at the January 1st 2021 renewals to reflect the underlying changes to the insurers portfolio, incoming CEO Peter Zaffino has explained.
Read the full article
The U.S. Federal Emergency Management Agency (FEMA) will be delighted with the outcome of its latest visit to the catastrophe bond market, as its FloodSmart Re Ltd. (Series 2021-1) issuance will now secure the upsized target of $575 million of reinsurance protection, while pricing has been fixed at the bottom of an already reduced range.
Read the full article
Catastrophe bonds and insurance-linked securities are one of the “very few genuinely, structurally diversifying asset classes,” according to the Neuberger Berman Insurance-Linked Strategies team, who give the asset class a positive outlook for 2021.
Read the full article
Hymans Robertson LLP, the pensions and financial services consultants, is anticipating more non-traditional risk transfer for pensions, including through the use of capital backed solutions and alternative insurance products.
Read the full article
Hong Kong headquartered global reinsurer Peak Reinsurance Company Limited (Peak Re) has now revealed that it successfully renewed its Lion Rock Re fully collateralised reinsurance sidecar at a larger size of $107 million for 2021.
Read the full article
The Aon and Willis Towers Watson (WTW) merger will “significantly lessen competition” in the supply of commercial risk, reinsurance and employee benefits broking, the Australian Competition & Consumer Commission is concerned.
Read the full article
