Reinsurance News

Global catastrophe loss data aggregator, Property Claim Services (PCS), is “excited” at the prospect of its county-level industry loss data for all 50 U.S. states going live in early 2019, an enhancement that could make industry loss triggers more sensitive to losses at a county level.

The valuations of investments in some of the listed and mutual ILS funds have been fluctuating as hurricane Florence approaches the United States, but the latest forecast now suggests the threat has lessened somewhat.

While it’s still too early to estimate insurance and reinsurance industry losses from hurricane Florence, some insurance-linked securities (ILS) funds have been providing investors with an idea of their potential portfolio exposure, based on scenario loss totals.

The reinsurance cycle will continue, but future peaks and troughs will increasingly be shaped by capital market appetite for insurance risk, thinks Lixin Zeng, chief executive of AlphaCat Managers Ltd.

As the reinsurance industry begins its discussions on the prospects for January 2019 renewals buyers are pushing for rate reductions in lines of business that have been performing, but a fully soft market is not a foregone conclusion.

One of the big surprises in the reinsurance sector following the level of catastrophe losses in 2017 was the reloading and expansion of alternative, or third-party reinsurance capital, according to the Chairman and Chief Executive Officer (CEO) of SCOR, Denis Kessler.

As Hurricane Florence bears down on the US East Coast as a category 4 storm, Luca Albertini, CEO and founding partner of Leadenhall Capital Partners warned that regardless of whether it is a market-changing loss, it could trap collateral in retro programmes.

The insurance-linked securities (ILS) market has become “an established force” in the natural catastrophe underwriting markets, but Christian Mumenthaler, the CEO of reinsurance firm Swiss Re, questions whether ILS markets are operating in sustainable territory.

Fermat Capital Management’s John Seo explains to Artemis why the “great reload” of 2018 sounded the final death knell of the traditional reinsurance cycle.

Brian Duperreault, the CEO of insurance giant AIG, discussed the state of his company, the progress he is making in his mission to turn it around and the market forces seen today, in a speech in Monte Carlo yesterday.