Reinsurance News

Verisk has come out with its first post-landfall and official estimate of insurance and reinsurance market losses from hurricane Ian, saying that the onshore property insured loss is estimated to be in a range from $42 billion to $57 billion.

Cresta has updated its industry loss estimates and provided a quarterly update, in which the organisation says that the insurance and reinsurance market loss from the July 2021 European flooding is now estimated to be $13.8 billion.

The catastrophe bond market index calculated by Swiss Re Capital Markets, the insurance-linked securities (ILS) specialist arm of the global reinsurance firm, plummeted when priced on Friday, due to the potential impacts and losses cat bonds face after Hurricane Ian.

Private insurance industry losses from major hurricane Ian are expected to rise close to $63 billion, according to catastrophe modeller Karen Clark & Company.

Plenum Investments has published an update on the potential for losses to catastrophe bonds after major hurricane Ian’s impacts in Florida, saying that, at an industry loss level estimated to be around $50 billion, its cat bond funds could suffer a loss of roughly one annual target return in USD.

It feels a little negative to focus on just two ILS fund strategies in this way, but as the Stone Ridge Asset Management mutual insurance-linked securities (ILS) and catastrophe bond funds are the only ones that are priced on a daily basis, they are providing valuable insights for the rest of the ILS market in […]

Long-standing Bermuda-based employee Mark Twite has been promoted to become the Chief Executive Officer (CEO), Bermuda of AXA XL Reinsurance, the reinsurance underwriting arm of AXA XL.

Another data point for those looking at the implications of major hurricane Ian’s path through Florida, rating agency Fitch says the insurance and reinsurance market loss is likely up to $40 billion.

Coming on the heels of five heavy catastrophe loss years, major hurricane Ian’s impacts in Florida and the resulting insurance, reinsurance and ILS market loss, could trigger a wholesale reevaluation of the provision of catastrophe insurance protection, according to Michael Millette.

Hurricane Ian’s impact is likely to cause losses to some Florida focused indemnity catastrophe bonds, as well as to some of the NFIP’s FloodSmart Re cat bond series, according to investment manager Twelve Capital.