Reinsurance News

Market participants across risk transfer, including insurance-linked securities (ILS) and reinsurance, have a lot to gain from further operationalising Environmental, Social and Governance (ESG) within their core businesses, our now published study reveals.

So far in 2020, global catastrophe and severe weather losses falling to the insurance and reinsurance market are running approximately 8% above the 10-year average, according to analysts at Jefferies.

Reinsurance pricing momentum is forecast to continue through all of the 2021 renewal seasons, with rises of 5% to 6% expected across the key upcoming January renewals, according to analysts at Morgan Stanley.

Fixed income financial services focused investment firm Cohen & Company, LLC has begun a capital raise for what will be its third insurance, reinsurance and insurtech focused Special Purpose Acquisition Company, or SPAC, named INSU Acquisition Corp. III.

The BBC Pension Scheme has added new benefit security for members with the completion of a UK £3 billion plus longevity swap transaction, with the assistance of global insurance firm Zurich and global reinsurance firm Canada Life Re.

According to global reinsurance firm Swiss Re, insured catastrophe losses in 2020 are estimated at US $83 billion so far, making this year the fifth costliest on-record for the industry.

Insurance and reinsurance broker Aon said today that it is currently seeing a “demand surge” for parametric risk transfer products, as clients look for solutions that can rapidly deliver cash flow after loss events occur.

Reinsurance Group of America (RGA) has provided the Barclays Bank UK Retirement Fund, a pension scheme and fund managing assets on behalf of UK employees of the bank, with a UK £5 billion longevity swap transaction.

The earthquake that struck off the coast of Turkey on October 30th and devastated some areas including the Izmir region is estimated to have only cost the insurance and reinsurance industry EUR 55 million, according to an estimate from PERILS AG.

Arch Capital Group Ltd., the Bermuda headquartered specialty insurance and reinsurance firm, has returned to the capital markets for a fourth Bellemeade Re mortgage insurance-linked securities (ILS) issuance of 2020.