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Varied April renewal outcomes for ILS funds, as Covid-19 bites

The April reinsurance renewals saw significant rate increases that offered a chance for insurance-linked securities (ILS) funds to create a much higher returning book of Japanese catastrophe risk for their portfolios, but the results appear to have been uneven.While loss-hit Japanese catastrophe reinsurance towers exposed to wind and flood saw read the full article →

Rates rise up to 50%, ILS capacity down at 1.4 reinsurance renewal: Willis Re

Reinsurance rates rose by as much as 50% at the 1.4 April reinsurance renewals according to Willis Re, but the insurance-linked securities (ILS) market is reported to have deployed slightly less capacity as some ILS funds dealt with redemption requests.The Covid-19 coronavirus pandemic escalated right as the April reinsurance renewals read the full article →

Covid-19 macro-economic hit the main property reinsurance driver: Aon

For the property reinsurance marketplace, the impacts of the Covid-19 coronavirus pandemic are expected to be largely driven by macro-economic factors, although some specific contracts could be at-risk of legislative efforts around inclusions, according to Aon.In a client briefing seen by Artemis, Aon explains that property reinsurance contracts would be read the full article →

Demand for fully collateralised cover may rise on pandemic risk awareness

There is a chance that reinsurance and retrocession buyers begin to favour fully collateralised protection more highly again, as they become increasingly aware that there are financial and economic risks which of a scale that can threaten traditional re/insurer solvency.The insurance-linked securities (ILS) market was a fully collateralised source of read the full article →

Covid-19 volatility & losses could drive reinsurance hardening: S&P

The capital buffers of some of the largest reinsurance companies have been significantly shrunken by the financial market declines seen in the last few weeks because of the Covid-19 coronavirus outbreak, potentially reducing their ability to weather any major catastrophe events that occur.With stock markets around the globe generally down read the full article →

Cat bond market liquidity slows, as bid list fails to fully trade

Catastrophe bond market liquidity appears to have slowed towards the end of this week, evidenced by one of the latest bid lists of cat bonds available for sale failing to fully trade, suggesting a perhaps growing gap between buyer and seller price targets.As we've been explaining in our coverage, the read the full article →

Nephila backed Blenheim Underwriting to launch managing agency

Blenheim Underwriting, the Lloyd's focused insurance and reinsurance underwriter that counts ILS specialist Nephila Capital as a key backer, is launching a managing agency which will help the company better manage the connection of its risks to a wide range of capital providers.When Blenheim launched its syndicate 5886 at Lloyd's read the full article →

Covid-19 impacts likely to enforce ongoing reinsurance firming: Schroders

The ongoing Covid-19 coronavirus pandemic is expected to have an impact on future reinsurance renewals, with the volatility it has caused expected to enforce ongoing firming of rates and pricing, according to executives at Schroders.Reinsurance rates have been on the rise anyway, as the industry on both traditional and alternative read the full article →

Tremor launches weekly industry loss warranty (ILW) auctions

Tremor Technologies Inc., the technology-based programmatic risk transfer marketplace provider, is launching weekly auctions of industry loss warranties (ILW's), with which it hopes to add efficiency to the process of ILW trading.Tremor noted the challenges currently being faced in the traditional insurance and reinsurance market due tot he Covid-19 coronavirus read the full article →

Lloyd’s in 2019 underwriting loss, as Covid-19 shows in solvency measure

The Lloyd's of London insurance and reinsurance market fell to an underwriting loss for the third consecutive year, reporting a combined ratio of 102.1% for 2019, while paying gross claims during the year that were higher than in the prior year.Lloyd's has struggled with its underwriting performance in recent years read the full article →