Coronavirus news, analysis and information of relevance to the insurance-linked securities (ILS), catastrophe bond and reinsurance capital markets.
The coronavirus Covid-19 outbreak of 2019/20 caused significant disruption and threatened losses across insurance and reinsurance markets, with some ramifications for ILS and cat bond investors and sponsors as well.
As the global effects of the Covid-19 coronavirus pandemic were being felt across financial markets earlier this year, the insurance-linked securities (ILS) market was not immune and Swiss Re notes that the dislocation caused ILS new issuance spreads to widen by 20% to 30%. The uncertainty that "riddled" the global financial read the full article →
For the second-quarter of 2020, the medical benefit claims ratio reported by CVS-owned health insurer Aetna dropped even further below levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered. This is despite the impacts of the Covid-19 coronavirus pandemic, which might have been thought a read the full article →
QBE, the Australian headquartered global insurance and reinsurance group, said this morning that its claims from the Covid-19 pandemic have taken it very close to attaching its aggregate reinsurance cover. The company also explained that it expects any business interruption claims from the pandemic will be covered under its catastrophe reinsurance read the full article →
Zurich Insurance Group (Zurich) reported its results for the second-quarter and first-half of 2020 today, revealing an elevated level of catastrophe claims, with the U.S. civil unrest and rioting a key driver of impacts. Zurich reported growth in commercial insurance and an ambition to take advantage of the improvements being seen read the full article →
The debt issuances of insurance and reinsurance carriers remain an attractive option for investors even under the shadow of the Covid-19 pandemic and there could be more opportunity to come. Insurance and reinsurance company debt issues, private or otherwise, remain an asset that certain insurance-linked securities (ILS) fund managers allocate capital read the full article →
Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced a new strategic hire in Jeff Davis, who will join the investment manager in September from his most recent position at Aon Securities. Jeff Davis will join Elementum Advisors in September 2020 as Senior Vice President, read the full article →
We're hosting a live webcast on September 10th 2020, featuring senior reinsurance and insurance-linked securities (ILS) market executives discussing the state of play and the outlook for 2021. Register online here to secure your place at this free webcast event. At this time of year all eyes are beginning to turn towards read the full article →
The subject of how a second wave of the Covid-19 pandemic would be treated under reinsurance contracts came up during insurance giant Allianz's earnings call this week and the companies CFO said that he'd expect it to be classed as a second loss event. Defining the pandemic in terms of specific read the full article →
RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has raised capital across numerous platforms over the last year, but the company always ensures investors have a "right of incumbency" on the deals they are already on, according to its CEO. RenaissanceRe (RenRe) has been raising third-party capital for read the full article →
AXA XL, the commercially focused insurance and reinsurance arm of the global AXA Group, has suffered a loss for the first-half of the year, as losses from the Covid-19 pandemic hit its commercial books of business. Overall, AXA reported net income of EUR 1.429 billion for the first-half, down 39% on read the full article →