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Constant flow of new sponsors required for more dynamic cat bond market: Fitch

In light of a marketplace that had slowed its growth trajectory somewhat in recent years, Fitch has underlined the need for a sustained inflow of new sponsors to drive a more dynamic, growing catastrophe bond and insurance-linked securities (ILS) sector. According to Fitch, a constant flow of new sponsors has not read the full article →

FloodFlash scales sensor-based parametric flood cover to larger corporates

Insurtech start-up FloodFlash, which offers an innovative sensor-based approach to support parametric flood insurance triggers, is scaling up its offering with the help of major reinsurance carriers to provide protection to larger corporations. FloodFlash's technology has helped to launch the first property level parametric flood insurance product, utilising water level sensors read the full article →

Super launches direct to consumer parametric LatAm quake cover

A new direct to consumer parametric earthquake insurance product has been launched for the Latin America market by Super Seguros Inc., with reinsurance backing from global player Munich Re. Super Seguros, acting through its subsidiary which has become Mexico's first approved insurance managing general agent (MGA), launched Super Temblor© as the read the full article →

Parametric FloodFlash pays out a day after storm Ciara. Another glimpse of the future?

The promise of parametric triggers has always been faster claims payouts, with no lengthy assessment process and while many examples payout within days of a triggering event, the fastest we've seen following a true weather catastrophe is the payouts made within a day of windstorm Ciara by insurtech FloodFlash. Bringing together read the full article →

JBA & FloodFlash launch sensor-based parametric flood cover first

Catastrophe risk modellers JBA Risk Management and insurtech start-up FloodFlash have teamed up to launch what they claim to be the first property level parametric flood insurance product. The product utilises sensors developed by FloodFlash, which are installed in homes and businesses to provide a measurement source for data that can read the full article →

New Paradigm to educate on parametric risk transfer at new conference

There has been an exponential increase in awareness and understanding of parametric insurance, reinsurance and risk transfer solutions in recent years, but still education is lacking among protection buyers which has led specialist New Paradigm Underwriters to launch its own conference on the subject. Artemis and sister publication Reinsurance News are read the full article →

RenRe’s remaining Fibonacci Re 2017 notes extended into 2019

The final $3.3 million chunk of notes from Bermudian reinsurance firm RenaissanceRe’s $140 million Series 2017-1 issuance of notes from its Fibonacci Reinsurance Ltd. sidecar-like vehicle have now had their maturity extended into 2019, as loss development continues. Fibonacci Reinsurance Ltd. is RenaissanceRe’s sidecar-like special purpose reinsurance vehicle, that provides ILS read the full article →

RenRe’s Fibonacci Re 2017 notes have maturity extended again

The remaining slice of in-force notes from Bermudian reinsurance firm RenaissanceRe’s $140 million Series 2017-1 issuance of notes from its Fibonacci Reinsurance Ltd. sidecar-like vehicle have had their maturity extended for another three months. Fibonacci Reinsurance Ltd. is RenaissanceRe’s sidecar-like special purpose reinsurance vehicle, that provides investors and fund’s under RenRe’s read the full article →

RenRe’s remaining Fibonacci Re 2017 ILS notes extended again

The remaining in-force notes of Bermudian reinsurance firm RenaissanceRe's $140 million of Series 2017-1 notes issued by Fibonacci Reinsurance Ltd. have been extended again, presumably as loss development continues. Fibonacci Reinsurance Ltd. is RenaissanceRe’s sidecar-like special purpose reinsurance vehicle, that provides investors and fund’s under RenRe’s management with catastrophe bond-like investments read the full article →

Hurricane Irma slams into Florida, surge floods both coasts

Hurricane Irma slammed into Florida on Sunday as a Category 4 storm with 130 mph winds, hitting the Florida Keys first before making a second landfall on the southwest coast of the Peninsula. Coastal flooding from storm surge has been reported on both coastlines, including areas such as the Miami read the full article →