Reinsurance News

Typhoon Faxai is estimated result in an insurance and reinsurance sector loss of as much as $7 billion by catastrophe risk modeller AIR Worldwide.

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management has warned that investors in the 2019 portfolios of its listed fund are exposed to potential losses from recent catastrophe events hurricane Dorian and typhoon Faxai.

Japanese typhoons should be expected to cause insurance and reinsurance industry losses of more than $15 billion at least every 20 years, according to analysis by Karen Clark & Company.

Hurricane Dorian may ultimately result in an impact to the insurance and reinsurance industry of up to $8.5 billion across all territories affected by the storm, according to catastrophe risk modelling specialist RMS.

Akinova, the start-up aiming to launch a platform or marketplace for the transfer and trading of insurance and reinsurance risks, has donated some of its data assets related to ILS to global standards-setting body ACORD.

In the main, funds investing in insurance-linked securities (ILS) and collateralised reinsurance are expecting any losses from hurricane Dorian that flow to the sector will be largely attritional in nature.

According to analysts that met with the senior management of AXA Group recently in London, the company has continued to utilise increasing amounts of third-party reinsurance capital to support its natural catastrophe exposures.

Speaking to Artemis from the SCOR lounge in Monte Carlo, Jean-Paul Conoscente, chief executive of SCOR Global P&C, outlined the company’s ambitious plans to place ILS at the heart of the business.

While there was generally positive messaging coming from the reinsurance and insurance-linked securities (ILS) market at the 63rd Monte Carlo Rendezvous event this week, views on pricing differed as ever.

The prolonged low interest rate environment will maintain the focus on underwriting profitability as the industry moves towards the 1 January 2020 renewals, thinks Mike Van Slooten, Head of Business Intelligence, Aon’s Reinsurance Solutions.