Hurricane Dorian is estimated to have caused an insurance industry loss in a range from $1.5 billion to as much as $3 billion from its impacts to the Caribbean islands, according to AIR Worldwide.
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Insurance-linked securities (ILS) market growth over the coming years hinges on the ability of ILS funds and managers to demonstrate they can recover from recent catastrophe losses and adapt their business models to better cope with future ones.
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Insurance-linked securities (ILS), catastrophe bonds and collateralized reinsurance funds experienced a more stable July 2019, averaging a 0.42% return for the months, although this was below the long-term average for the month.
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The past 12-months have been both educational and reassuring for the insurance-linked securities (ILS) market and its participants, as the market learned that its structures do in the main respond as designed.
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Insurance and reinsurance broking powerhouse Aon has made a senior hire from the insurance-linked securities (ILS) market, hiring Neville Weston who was previously with ILS manager Aeolus Capital Management Ltd.
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Randall & Quilter (R&Q) Investment Holdings, the specialist non-life insurance and reinsurance legacy investor and program manager, is continuing to explore the potential for third-party capital to assist it on undertaking larger legacy transactions.
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Hurricane Dorian has begun to weaken somewhat as it lashes the North Carolina coast, with flooding from storm surge and rainfall reported in some areas, as well as wind damage. The storm is now expected to sustain its hurricane force winds right up into eastern Canada and the surrounding region.
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Global reinsurance firm Swiss Re is re-organising its insurance-linked securities (ILS) and retrocessional capabilities, merging ILS and retro teams within one new unit named Alternative Capital Partners (ACP).
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While capital inflows have begun again in the insurance-linked securities (ILS) sector, the fact that they took a pause and ILS capacity retreated slightly before this shows that the ILS market has become more selective, according to Fitch Ratings.
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There has been a distinct slowdown in cat bond issuance throughout 2019 after the heavy loss experiences of the past two years, but Appleby’s Brad Adderley maintains that the market is “here to stay” and remains poised for further growth in the years ahead.
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Hurricane Dorian’s category 5 winds and devastating storm surge are expected to result in combined insurance and economic costs of at least $7 billion, according to an estimate from Karen Clark & Company.
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The African Risk Capacity (ARC) is set to pay the Government of Senegal $22 million after drought triggered the countries parametric insurance policy.
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Rate firming across insurance and reinsurance markets could persist for the “next three to four years” the CEO of Convex Group told the Financial Times.
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Insurance-linked securities (ILS) asset manager Merion Square Capital LLC has announced the hiring of Jeff Fraser as its new Head of Analytics.
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