Hiscox, the specialist insurance or reinsurance underwriter and ILS capital manager, has provided the capacity to support another novel parametric cyber risk transfer arrangement, this time covering the risk of cloud outages.
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Innovative insurance and reinsurance mechanisms such as catastrophe bonds, risk pooling facilities and parametric triggers are all key ways that risk mitigation can be improved in the world’s most vulnerable areas, Aon said today.
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Hannover Re, the German headquartered global reinsurance company, grew its premiums by 14% at the key January renewals, adding a significant 20% to its North American book, but still feels catastrophe reinsurance rates have further to move.
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Markel Corporation’s operating revenues from its insurance-linked securities (ILS) businesses were up by 74% in the fourth-quarter of 2019, while the full-year saw ILS operating revenues hit $225.6 million, thanks to the contribution from Nephila Capital.
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Bermuda-headquartered global reinsurance firm and third-party capital manager RenaissanceRe has revealed that it raised an impressive more than $925 million for its insurance-linked securities (ILS) and joint-venture vehicles Upsilon, Medici and Vermeer in recent months.
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U.S. mortgage insurer Radian Guaranty, part of the Radian Group, has now successfully completed its latest and third mortgage insurance-linked securities (ILS) transaction, with a $488.4 million Eagle Re 2020-1 Ltd. transaction.
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MultiStrat, the specialist underwriter and reinsurance investment facilitator, has completed its largest casualty insurance-linked securities (ILS) transaction to-date, a $205 million casualty ILS deal that it worked alongside investor Vida Capital to complete.
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Pioneer Underwriters, the specialist underwriting services organisation that looks to match its risks with various sources of capital, has agreed terms for a strategic transaction that will see it combine with specialty insurance services holding company, K2 Insurance Services LLC.
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The Tullett Prebon operated Insurance Linked Notes (ILN) platform has successfully completed its second issuance and settlement of catastrophe risk linked notes, with a $7 million Turkish earthquake exposed industry loss deal transacted with capital market investors.
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Reinsurance firm Swiss Re has now successfully secured $255 million of hurricane and mortality risk retrocessional protection with its latest Matterhorn Re Ltd. (Series 2020-2) catastrophe bond transaction.
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Losses from the severe hailstorms that struck southeastern Australia in January continue to rise, with the latest insurance industry loss estimate now 24% higher at A$638 million.
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Nationwide Mutual Insurance Company has returned to the catastrophe bond market looking for a $340m or greater source of capital market backed U.S. multi-peril reinsurance protection, issuance, on both a per-occurrence and aggregate basis, with a twin Caelus Re VI Ltd. (Series 2020-1 & 2020-2).
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Reinsurance pricing could rise by as much as 20% at the Florida renewals in June 2020, with the continued pressure from loss creep on both insurers and reinsurers the main driver, according to A.M. Best.
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Constrained levels of insurance-linked securities (ILS) capital remains a feature of the market as it moves into 2020, in some cases affecting the ability of cedents to secure the coverage they needed at the recent renewals.
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