Alternative reinsurance capital

The insurance and ultimately reinsurance market loss caused by the damage to and resulting production shutdowns of the Kwame Nkrumah FPSO (floating production, storage and offloading) vessel operating on the Jubilee oil field, Ghana continues to rise thanks to ongoing business interruption.

Here are the ten most popular news articles, week ending 23rd September 2018, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

The Lloyd’s market has put its investigations into the potential use of insurance-linked securities (ILS) to protect its Central Fund on-hold for the moment, according to CFO John Parry.

The Lloyd’s of London insurance and reinsurance market improved its result in the first-half of 2018 and underwriters in the market took advantage of rate rises following the 2017 catastrophes to increase the markets premiums written.

The insurance-linked securities (ILS) market and alternative reinsurance capital is forecast to take a greater share market of global reinsurance by 2020, suggesting continued expansion for capital market activity in the sector, according to respondents of our first global reinsurance market survey.

Reinsurance rate increases are set to fade in 2019 leading to a broadly stable pricing environment and at the same time alternative capital and insurance-linked securities (ILS) is set to persist, according to rating agency Standard & Poor’s.

Insurance and reinsurance broker Willis Towers Watson (WTW) has launched what looks like a useful property loss modelling tool that allows analysis to be performed for both catastrophe and non-catastrophe property risks.

Muted catastrophe reinsurance rate rises and loss creep could mean investors may be more reluctant to reload in the same way should the industry experience further major natural catastrophe losses, thinks Darren Redhead, CEO of Kinesis Capital Management, the third-party capital vehicle operated by Lancashire Holdings.

The ability of ILS markets to pay out and raise fresh capital in the aftermath of 2017’s major catastrophe losses was not a full test, according to Victor Peignet, CEO of Scor Global P&C.

U.S. headquartered global insurer Chubb has announced the promotion of Jeremiah Konz to a role that sees him taking on responsibility for the firms ceded reinsurance program buying across all territories outside of North America.