Reinsurance News

According to the latest data from the U.S. National Oceanic and Atmospheric Administration (NOAA), there has already been an “unprecedented” 18 billion dollar weather and climate disasters in the United States during the first-nine months of 2021.

Munich Re Ventures, the insurtech and related risk technology investment arm of the global reinsurance company, has closed a $500 million capital raise for a new Munich Re Fund II and now looks to broaden its approach to investing in the most innovative start-ups transforming the future of risk.

For our latest Artemis Live video interview, we were joined by Tom Johansmeyer, Head of PCS to discuss the subject of cyber risk and ask the question, why isn’t it a bigger exposure in the insurance-linked securities (ILS) market?

The insurance and perhaps reinsurance industry loss estimate for tropical Cyclone Seroja, which impacted Western Australia earlier this year, has been lowered by roughly 9% to A$394 million by PERILS.

Silent cyber exposures in the United States property insurance market are accumulating to such a degree that a new report suggests a $12.5 billion industry loss from non-physical damage could flow to property carriers, should a major event occur.

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, has pre-announced an estimated up to $345 million of catastrophe losses for the third-quarter, which it has based on an expected industry loss burden of at least $47 billion.

Aspen Insurance Holdings Limited looks to bring third-party reinsurance capital to every transaction, and as the re/insurer’s capabilities here continue to evolve, insurance-linked securities (ILS) capacity has become central to its thinking, according to Christian Dunleavy.

Occam Underwriting, a specialist lines focussed Managing General Agency (MGA), is acquiring terrorism risk focused MGA Beech Underwriting Agencies Ltd., in a move supported by Hudson Structured Capital Management (HSCM).

There’s a lot of talk in the industry about the potential for important rating agency capital charges associated with property catastrophe risks to be updated soon, to account for what some are now viewing as a changed, or different, loss environment.

Insurance-linked securities (ILS) funds may play a bigger role in providing aggregate reinsurance and retrocession protection in future, as an increasing number of traditional reinsurers are shying away from this, analysts at KBW believe.