Collateralized reinsurance

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Premiums ceded to Mt. Logan Re outpaced losses in 2019 for Everest Re

Global insurance and reinsurance group Everest Re ceded more premiums to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in 2019 than losses, the first year since 2016 when catastrophe impacts have been far outpaced by premium growth.While 2019 saw its fair share of major global catastrophe loss events read the full article →

Credit Suisse ILS’ Bernina Re appoints Gubo as Senior Actuary

Bernina Re Ltd., the Bermuda based reinsurance underwriting and transformer vehicle backed by capital from funds managed by Credit Suisse Insurance Linked Strategies Ltd., has hired Thomas Gubo as a Senior Actuary.Bernina Re was launched as a Class 3A reinsurer in 2018, with the aim of becoming the flagship reinsurance read the full article →

UK winter floods & wind related industry losses said £650m: PERILS

The insurance market loss from flooding that struck the United Kingdom earlier this year is initially estimated to be £279 million (around US $350m), according to PERILS AG, but the overall winter weather hit from floods and wind is estimated as £650 million (around US $810m).PERILS estimate for the insurance read the full article →

Precedents seen for some Covid-19 business interruption claims

Plaintiff attorneys believe there are a number of legal precedents that could mean insurers end up taking more business interruption claims from the Covid-19 coronavirus pandemic than initially thought, which analysts say suggests a rising risk of the impact being greater than anticipated.As we explained last week, legal actions seeking 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 →

Australian east coast low industry loss estimated at A$794m by PERILS

Insurance and reinsurance market losses from a severe east coast low that struck Australia at the beginning of February are estimated to be A$794 million, according to PERILS AG.As we explained yesterday, the Insurance Council of Australia (ICA) pegged the losses from this latest catastrophe to beset Australia during its read the full article →

ILS & cat bonds “most defensive asset class” for investors: Twelve Capital

Insurance-linked securities (ILS) and catastrophe bonds investments are well placed to weather the current Covid-19 coronavirus pandemic situation, according to specialist reinsurance asset manager Twelve Capital.The insurance and reinsurance market has a strong track record of coping with highly distressed market environments, Twelve Capital says.As a result, it believes that 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 →

Windstorm Victoria – Dennis industry loss said EUR 286m by PERILS

European windstorm Victoria, also known as storm Dennis in the UK, is estimated to have cost the insurance market at least EUR 286 million, according to PERILS AG.Being its first estimate for the market-wide property insurance and perhaps reinsurance loss for storm Victoria, there is a good chance PERILS increases 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 →