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IAG renews aggregate catastrophe reinsurance at higher attachment

Australian primary insurance giant Insurance Australia Group (IAG) has renewed its aggregate catastrophe reinsurance protection at a higher attachment point and extended the term of its quota share with Munich Re. Having renewed its main occurrence catastrophe excess-of-loss reinsurance tower at January 1st, the Australian insurers tend to come back to read the full article →

Tornado impact to ILS investors cannot be ruled out: Twelve Capital

At this still early stage following the tornadoes and severe storms that struck the United States this weekend, it's not yet possible to rule out any loss impacts to ILS investors, according to Twelve Capital. The insurance-linked securities (ILS) and reinsurance focused asset manager said that it is not yet aware read the full article →

Tornadoes to affect some aggregate cat bonds: Plenum

The weekend’s significant tornado activity in the United States could affect some aggregate catastrophe bonds, according to insurance-linked securities (ILS) asset manager Plenum Investments. Plenum explained in an update that the weekend tornado outbreak across southeastern US states is relatively rare, with severe tornado impacts more typically expected in April or read the full article →

ILS funds may play bigger role in aggregate covers: KBW

Insurance-linked securities (ILS) funds may play a bigger role in providing aggregate reinsurance and retrocession protection in future, as an increasing number of traditional reinsurers are shying away from this, analysts at KBW believe. Heavy catastrophe and severe weather losses, perceived rising frequency and severity of certain peril events, fears of read the full article →

Hurricane Zeta onshore loss up to $5bn, offshore up to $500m: RMS

Catastrophe risk modeller RMS has now weighed in with its estimate of insurance and reinsurance industry losses likely to come from recent hurricane Zeta's impacts to the United States and it's a little higher than other modeller estimates. RMS said that it expects hurricane Zeta's onshore insured losses will be between read the full article →

AIR sees Zeta onshore U.S. loss below $3.5bn, CoreLogic below $4bn

Catastrophe risk modeller AIR Worldwide estimates that hurricane Zeta's onshore wind and storm surge insured losses in the United States will be less than $3.5 billion, with the bottom-end of its range far lower at $1.5 billion. Meanwhile, CoreLogic has also released an estimate, saying that it expects hurricane Zeta's insurance read the full article →

Hurricane Zeta wind & surge insured losses estimated at $4.4bn by KCC

Hurricane Zeta's wind and storm surge impacts on Mexico and the United States are expected to cost the insurance and reinsurance market close to $4.4 billion, according to an early estimate from Karen Clark & Company. The catastrophe risk modeller is first out of the blocks with a post-landfall estimate of read the full article →

Hurricane Zeta impacts reach far inland, loss to “well surpass $1bn” – Aon

Impacts and in particular wind damage from hurricane Zeta have spread far inland across the United States, bringing back memories of Isaias earlier this year. Impact Forecasting, the catastrophe risk analytics and meteorology unit of insurance and reinsurance broker Aon, said that insured losses from the storm that made landfall late read the full article →

Hurricane Zeta may move aggregate cat bond prices: Plenum

The impacts and eventual insurance market losses from hurricane Zeta's landfall on the Louisiana Gulf Coast is not expected to result in any direct losses to catastrophe bonds, but may move the price on certain aggregate cat bonds, according to Plenum Investments. Zurich-headquartered catastrophe bond and insurance-linked securities (ILS) focused investment read the full article →

Aggregate ILS returns questioned after recent losses

The returns on aggregate insurance-linked securities (ILS), including catastrophe bonds, are being questioned by some investors, following the significant number of catastrophe loss events that have qualified under some contract terms in the last two years. Sources said that investors are set to demand a premium for renewing some aggregate ILS read the full article →