Reinsurance News

Hurricane Dorian is estimated to have caused an industry insured loss of $5.23 billion by catastrophe risk modeller Karen Clark & Company (KCC).

Capacity for retrocessional reinsurance is expected to remain tight at the upcoming January 2020 renewal season, but will still prove sufficient, Graeme Moore, CEO Willis Re Speciality expects.

A third year of sizable catastrophe losses could see some ILS investors exit the market and “change the capital market mechanism”, according to Michael Millette, founder and managing partner of Hudson Structured Capital Management.

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, sees its expanding insurance-linked securities (ILS) and third-party capital capabilities as complementary to its core underwriting strategy, CEO Pina Albo explained to us.

Everyone in reinsurance, from major reinsurance firms to the smallest insurance-linked securities (ILS) player, is anticipating further rate firming at the January 2020 renewals, with Hannover Re among the latest to join the calls for higher priced protection.

Bermuda domiciled specialty insurer and global reinsurer, AXIS Capital Holdings, is proud of its ability to raise new capital and bring in new investors in what’s been a challenging year for third-party capital raises, says President and Chief Executive Officer (CEO), Albert Benchimol.

W. R. Berkley Corporation recently revealed an investment in programmatic reinsurance risk placement marketplace provider, Tremor Technologies, Inc., technology that the re/insurer told us can deliver efficiency to the entire market.

A new reinsurance business model is emerging and alternative capital and insurance-linked securities (ILS) investors sit right at the heart of it, according to Shiv Kumar, President, GC Securities.

Panellists at the annual Munich Re insurance-linked securities (ILS) roundtable event in Monte Carlo today said that the ILS market is ready and able to go deeper into reinsurance.

The reinsurance industry needs to secure more rate increases for the industry to reach the point of a long-term sustainable market, according to Swiss Re.