Covid-19 news

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.


Nat cats & COVID burden reinsurers, but rates boost earnings

Rising reinsurance pricing has boosted the earnings of the big four European reinsurers, despite them all being burdened in 2021 so far by natural catastrophe and COVID-19 related mortality losses. Fitch Ratings explained that strong premium growth and resilient investment income, alongside fewer non-life claims from the COVID-19 pandemic, meant that read the full article →

AIG’s AlphaCat assets under management fall to $3.5bn

Assets under management at American International Group’s (AIG) insurance-linked securities and collateralized reinsurance dedicated ILS investment manager entity, AlphaCat Managers, have fallen to $3.5 billion by the end of the third-quarter, with some effects from the quarters catastrophes clear in its reporting. Like the rest of the insurance-linked securities (ILS) market, read the full article →

Paul Gregory to take on interim CEO role at Lancashire Capital Management

Paul Gregory, the Group Chief Underwriting Officer of specialty insurance and reinsurance group Lancashire Holdings, is stepping in to become interim CEO of the firms Lancashire Capital Management unit, as Darren Redhead will depart the firm in 2022. It recently came to light that Darren Redhead, the CEO of the firms read the full article →

Lancashire grows P&C reinsurance 85%, catastrophe risk a driver

Specialty insurance and reinsurance group Lancashire Holdings reported that its property and casualty reinsurance book grew by 85% across the first nine-months of 2021, as the company deployed more capital and took advantage of a stronger rate environment. Property catastrophe risk appears to have been one of the areas of specific read the full article →

Swiss Re’s catastrophe book positive despite ~$2.5bn large loss burden

Global reinsurance firm Swiss Re reported strong performance across its property and casualty reinsurance business and Corporate Solutions this morning, with group net income of $1.3 billion reported, despite natural catastrophe and man-made losses driving an almost $2.5 billion net impact in the first nine-months of 2021. Continued losses from the read the full article →

Retro funds could be 70% – 80% trapped or lost: RenRe CEO O’Donnell

Retrocessional reinsurance focused ILS investment funds and strategies could find as much as 70% to 80% of their capital trapped or lost after the challenging catastrophes of 2021, according to RenaissanceRe's CEO Kevin O'Donnell. The CEO of RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, explained that 2021 has read the full article →

Elementum hires Muschett from HSCM as Head of Actuarial & Valuations

Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of former Hudson Structured Capital Management (HSCM) employee Jacqueline Muschett to the role of Managing Director, Head of Actuarial & Valuations. Jacqueline Muschett has joined Elementum in Bermuda and will report directly to the read the full article →

SCOR “kicked itself” for not renewing mortality bonds: CEO Rousseau

French reinsurance company SCOR "kicked itself" for not having renewed its mortality catastrophe bonds in the past, the firms new CEO Laurent Rousseau explained today. Laurent Rousseau was speaking during a virtual event organised by the organisers of the Rendez-Vous de Septembre (RVS) today, in which he discussed the pandemic and read the full article →

Artemis Bermuda ILS Executive Roundtable 2021

Welcome to Artemis’ sixth Bermuda-focused insurance-linked securities (ILS) executive roundtable, held virtually for the second year in a row owing to ongoing pandemic-related restrictions. Despite the impacts of the Covid-19 pandemic and subsequent restrictions on travel and face-to-face meetings, Bermuda attracted a significant amount of startup capital in 2020, ahead of read the full article →

Sompo GRS launches parametric cover for epidemic & pandemic risk

Sompo Global Risk Solutions (GRS), a division of Bermuda-headquartered specialty P&C insurance and reinsurance group Sompo International, has launched a new parametric insurance product to cover epidemic and pandemic risks. The parametric insurance product will be triggered by civil authority restrictions resulting from international public health emergencies that have been declared read the full article →