Catastrophe bond news

Catastrophe bond news – news and analysis covering the market for cat bonds and other catastrophe insurance-linked securities (ILS), including all the catastrophe bond issuance news, cat bond articles, catastrophe bond market trends, catastrophe bond analysis and cat bond market data.

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India moots parametric Pandemic Risk Pool, with bonds part of capacity

A working group of the Indian insurance and reinsurance regulator IRDAI has proposed the creation of a parametric Indian Pandemic Risk Pool, which could use pandemic bonds as part of its capacity. The regulator and Indian government tasked an industry working group with exploring the possibility of creating a pandemic risk read the full article →

Hurricane Sally losses estimated between $1bn and $3bn by AIR

The insurance and reinsurance industry loss estimates for recent hurricane Sally are coming in thick and fast, with catastrophe risk modeller AIR Worldwide now releasing an official estimate for insured losses of between $1 billion and $3 billion. AIR's estimate is based on industry insured losses to onshore property from damage read the full article →

Hurricane Sally insured onshore property losses said $2bn by KCC

Onshore property losses for the private insurance and reinsurance market from recent hurricane Sally are estimated at just $2 billion by catastrophe risk modeller Karen Clark & Company. The estimate released today includes private insurance market losses caused by wind and storm surge damage to residential, commercial, and industrial properties and read the full article →

Asia-Pacific mortality gap hits US $83tn, suggests role for ILS & insurtech

An estimated 75% of households in the Asia Pacific region will face financial stress in the event of the death of the main breadwinner, according to research from Swiss Re. The reinsurance firms recent research highlights the significant lack of uptake of life insurance products in the Asia Pacific region, as read the full article →

GC / MMC’s Isosceles ILS platform in $25m private cat bond issuance

Isosceles Insurance Limited, the transformer and segregated cell structure operated by Marsh & McLennan Companies and reinsurance broker Guy Carpenter to issue privately placed insurance-linked securities or catastrophe bonds has completed issuance of another transaction. This $25 million Isosceles Insurance Ltd. (Series 2020-C1) transaction is the second deal to come to read the full article →

Best of Artemis, week ending 20th September 2020

Here are the ten most popular news articles, week ending 20th September 2020, 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. Register for read the full article →

Cedants increasingly favour catastrophe bonds, Moody’s survey finds

Reinsurance cedants and buyers are increasingly looking to catastrophe bonds as options for accessing alternative sources of reinsurance capital, a new survey from rating agency Moody's has found. Polling reinsurance buyers at property and casualty insurers, the survey asked for their plans with respect to insurance-linked securities (ILS) and alternative capital, read the full article →

Hurricane Sally expected to drive significant NFIP flood losses: A.M. Best

Hurricane Sally's extreme rainfall and storm surge are expected to drive significant insured losses for the National Flood Insurance Program (NFIP), putting its reinsurance panel and catastrophe bond investors on alert, according to A.M. Best. The rating agency said that the the U.S. Federal Emergency Management Agency's (FEMA) flood insurance program read the full article →

FEMA begins 2021 flood reinsurance renewal process, may upsize program

The U.S. Federal Emergency Management Agency (FEMA) is back in the reinsurance market and seeking expressions of interest to participate in a January 2021 renewal of the National Flood Insurance Program’s (NFIP) traditional reinsurance program. Our sources suggest that for 2021 FEMA may look to increase the size of the traditional read the full article →

Allstate’s cat losses hit $985m in August on hurricanes Laura & Isaias

U.S. primary insurance giant Allstate has reported the highest monthly total of catastrophe losses it has suffered for some time, as hurricanes Laura and Isaias helped to drive the total to $985 million for August 2020. 11 catastrophe events in August drove $969 million of pre-tax catastrophe losses, while adverse reserve read the full article →