Reinsurance News

The majority of analysts and observers do not believe that the reinsurance and insurance-linked securities (ILS) industry faces a tidal wave of business interruption claims as a result of the coronavirus pandemic.

The two Guernsey domiciled rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed and their underwriting strategies tweaked to reduce the volatility in their results going forwards.

Global reinsurance capital levels have made a significant recovery broker Willis Re estimates, as the improvements in investment markets in recent weeks leads the company to believe that reinsurance capital is now only down roughly 5% since the beginning of 2020.

The mid-year reinsurance renewal season is set for further firming of premium rates as market conditions help to sustain and perhaps accelerate recent trends, something Leadenhall Capital Partners CEO Luca Albertini says is evident in early Firm Order Terms.

Two very senior insurance and reinsurance market leaders have warned that the sector is already facing “massive” losses from the Covid-19 coronavirus pandemic and that any forcing of business interruption claims on top of that could “bankrupt” the industry.

The outbreak of severe convective weather that affected the U.S. south and eastern states this week may result in both economic and insured losses that surpass $1 billion, according to the latest update from Aon’s Impact Forecasting.

The in run-off CATCo Reinsurance Opportunities Fund Ltd., the exchange listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is expecting to receive an $18.8 million return of capital from a range of side pockets in May, with the proceeds set to be used to redeem more shares.

We’ve launched a new audio and video feature that will see us talking with leaders of the insurance-linked securities (ILS) and reinsurance industry and broadcasting them via our YouTube channel.

Every so often some new insurance or reinsurance product, or strategy, emerges that shows us a glimpse of the future of this marketplace, often driven by technology, data and the use of parametric triggers.

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist underwriter, has released a forecast of its potential first-quarter losses due to the Covid-19 coronavirus pandemic, saying it expects up to $145 million of losses across its property & casualty insurance, reinsurance and mortgage insurance lines of business.