Covid-19 news, analysis and information of relevance to the insurance-linked securities (ILS), catastrophe bond and reinsurance capital markets.
The Covid-19 coronavirus 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.
Bermuda headquartered international specialty insurance and reinsurance firm Argo Group expects third-quarter catastrophe events and additional contingency losses related to the COVID-19 pandemic will dent its upcoming results. Argo has pre-announced an estimated $54 million of natural catastrophe losses from the third quarter, which it says are primarily related to Hurricanes read the full article →
Pandemic risk insurance and reinsurance needs a new paradigm of how we access capital markets for risk bearing capacity, as it is bigger than just the reinsurance and insurance-linked securities (ILS) markets we know of today. The capital markets will need to play a role and that's much broader than just read the full article →
Global reinsurance firm Munich Re has pre-announced an expectation of another significant claims burden from the COVID-19 pandemic, as well as an above-average level of natural and man-made catastrophe losses for the third-quarter of 2020. Munich Re said today it expects to report roughly €800 million in claims from the COVID-19 read the full article →
We've got a new video for you today, featuring an interview with Sidney Rostan, Head of ILS at SCOR Investment Partners, who is the latest industry executive to join our Artemis Live series. Leading insurance-linked securities (ILS) investments for the asset management group of global reinsurance company SCOR, Rostan shared his read the full article →
The current "panoply" of significant catastrophe loss events affecting the insurance and reinsurance market are expected to drive structural change in products, as well as continued upwards momentum in pricing, according to Kroll Bond Rating Agency (KBRA). In a recent report, the rating agency noted that 2020 could become a record read the full article →
Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has made another strategic hire in Bermuda, appointing Shabnam Ahmed as Senior Vice President, Underwriting. Ahmed has been hired from AXIS Re in Bermuda, where she worked in a specialty property reinsurance underwriting leadership position. The hiring of read the full article →
One of the factors fuelling reinsurance rates as we move towards the end of year renewals and the key January 2021 contract signings is the ongoing uncertainty over COVID-19 and just how high the industry loss from the pandemic will rise. Analysts at Berenberg said highlighted that, for now, COVID-19 losses read the full article →
Catastrophe bond fund returns led the way through August 2020 with another strong month, while private ILS and collateralised reinsurance suffered a little as a string of catastrophe events eroded aggregates and caused some declines in return. According to the Eurekahedge ILS Advisers Index the average return of catastrophe bond and read the full article →
Analysts from Jefferies said they would advise specialty insurance and reinsurance firm Beazley to look to securing additional reinsurance capital, over other funding sources such as another equity raise, after the firm reported escalating losses and given the active levels of catastrophe loss activity seen. Beazley recently reported a doubling of read the full article →
Multiplicity Partners, a boutique Zurich-based investment firm that specialises in secondary opportunities and providing liquidity solutions to holders of private market funds and distressed assets, is targeting the insurance-linked securities (ILS) space and wants to offer a solution to those experiencing trapped ILS collateral. Having been active in the secondary market read the full article →