Reinsurance News

The use of the capital markets and insurance-linked securities (ILS) in reinsurance is “absolutely necessary” to increase the efficiency of insurance products and capital, according to the CEO of reinsurer Peak Re.

Inflows of fresh institutional capital into the insurance-linked securities (ILS) market are continuing to be seen, the reinsurance arm of broker Aon confirmed, but it remains at a slower rate and is seeking a higher return.

Property Claim Services (PCS), is enhancing its PCS Global Marine & Energy insurance industry loss data aggregation and index service by breaking it down into lines of business, to enhance granularity in reporting and facilitate more focused risk transfer decisions.

The reinsurance industry faces an ongoing evolutionary change of its business model and a continued abundance of capital, which is driving home the need for new revenue streams to be found, as value creation for clients remains key.

CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility) is set to payout almost $11 million to the Bahamas after hurricane Dorian triggered its parametric tropical cyclone insurance policy.

Broking giant Aon has announced the launch of auction technology which it is making available for clients to use at the upcoming January 2020 reinsurance renewals.

Horseshoe, the Bermuda-headquartered ILS and reinsurance management and fund administration, servicing, and risk transformation specialist, has rebranded to reflect its partnership approach to its clients, CEO Andre Perez said.

Nephila Capital, the largest investment manager of insurance and reinsurance linked securities (ILS) and weather risk assets, is nearing launch of its own independent Lloyd’s managing agency.

The Japanese capital city of Tokyo is watching approaching Typhoon Faxai closely, as the compact but powerful typhoon is forecast to come very close to the metropolis and Tokyo could experience significant winds as a result.

Global reinsurance broker Guy Carpenter, part of Marsh & McLennan, has promoted David Priebe to become its Chairman, effective immediately.