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.
The World Bank’s 2017 pandemic catastrophe bond has provided a blueprint for how insurance-linked securities (ILS) technology can be leveraged to transfer pandemic risk, according to Joanna Syroka, Director of New Markets, Fermat Capital Management, LLC. Issued in July of 2017 by the World Bank on behalf of its Pandemic Emergency read the full article →
The implications of the ongoing Covid-19 pandemic on the re/insurance market suggests that the availability of capital is going to be a major issue, according to Tom Johansmeyer, Head of PCS. Yesterday, Johansmeyer delivered a thought-provoking keynote to open the penultimate day of the annual re/insurance and insurance-linked securities (ILS) conference, read the full article →
American International Group’s (AIG) insurance-linked securities and collateralised reinsurance investment manager entity, AlphaCat Managers, saw a slight decline in ILS assets under management during the third-quarter of the year, but delivered its parent improved investment fee income. AlphaCat Managers ended the second quarter with $4.3 billion of total ILS assets under read the full article →
September 2020 saw the strongest level of returns from the insurance-linked securities (ILS) market in a year, as the average ILS fund return was reported as 1.08% by ILS Advisers. Catastrophe bond funds have again led the way, as strong price increases meant that pure cat bond funds outpaced the returns read the full article →
France headquartered global reinsurance company SCOR has reported its Q3 results today and revealed that, despite the high frequency of natural catastrophe claims in the United States, the reinsurers nat cat ratio stands under budget. SCOR has reported slower premium growth than its competitors this year, reporting gross premiums up 2.3% read the full article →
RSA Group, the UK based general insurance company, said today that it has exhausted the retention under its aggregate reinsurance program, meaning that any major catastrophe loss events in Q4 will fall to its reinsurance panel. At the same time, the company also reported that its reserves for Covid-19 claims from read the full article →
Munich Re does not expect its collateralised reinsurance sidecar vehicles or its retrocession program to pick up much of its losses from the COVID-19 pandemic, according to the reinsurers CFO. Speaking during a media call this morning, Christoph Jurecka, CFO of Munich Re said that Munich Re continues to focus on read the full article →
Lancashire Holdings, the specialty insurance and reinsurance group with a third-party capital management platform, is increasingly seeing new business flows that meet its return requirements across a range of business lines, in particular benefiting from growth across property catastrophe reinsurance, property direct and facultative, the company said this morning. Lancashire believes read the full article →
Munich Re has reported more than EUR 1.5 billion of major losses to its reinsurance business, largely driven by the continuing significant impacts of the COVID-19 pandemic and a range of natural catastrophe losses. Reporting its nine-month results this morning, Munich Re said that it has made around a EUR 1 read the full article →
Alleghany Corporation and its reinsurance underwriting subsidiary TransRe highlighted elevated natural catastrophe losses and further impacts from the COVID-19 pandemic have driven them to underwriting losses, in third-quarter reporting. At the same time, the group has grown its insurance and reinsurance premiums underwritten by 15.8% and 9.5% in the third quarter read the full article →