flood cat bond

Insurance, reinsurance and capital market or ILS participants can and should be doing more to help bridge the escalating flood risk protection gap in Asia, home to some of the most flood prone areas on the planet which are exacerbated by rising asset values and coastal migration.

The UK’s new government backed reinsurance scheme, Flood Re, is planning to buy £2.1 billion ($3.27 billion) of retrocessional reinsurance cover, which is likely to include collateralised or ILS markets, adding another welcome source of new demand for capacity.

Catastrophe and hazard risk modelling company JBA Risk Management today launched its first catastrophe risk modelling platform, JCalf 15, featuring multi-peril probabilistic models and is relevant to both reinsurance and ILS users.

In a testimony delivered to the United States House of Representatives, NAMIC suggested that the U.S. National Flood Insurance Program would benefit from transferring risk to the private sector through reinsurance and catastrophe bonds.

Flood risks across the Asia-Pacific region are receiving an increased focus, as reinsurance and ILS markets look to find new opportunities to put capacity to work. Analysis and developments in risk models clearly show the need for more capacity to target this peril.

The UK government’s planned state-backed flood reinsurance pool, Flood Re, has published a tender for retrocessional reinsurance broker services, detailing that it is open to alternative risk transfer or alternative (capital) market solutions.

Catastrophe risk modelling firm AIR Worldwide has announced the launch today of what it is calling the industry’s first detailed, physically based, probabilistic inland flood risk model for the United States.

The UK’s planned state-backed flood reinsurance pool, Flood Re, could leave UK insurance companies more exposed than before as the facility relies on the government keeping its promises on flood defenses and could raise exposure to climate change, said S&P.

Risk modelling firm AIR Worldwide has released an estimate for insured losses in Germany resulting from the recent flooding events across Central Europe. AIR estimates insured losses in Germany to be between €4 billion and €5.8 billion, that’s up to $7.7 billion in USD. The flood event is ongoing so any insured loss estimates could […]

Fitch Ratings has said in an update that it expects the recent European flooding, which hit Central Europe particularly hard, may cause insured losses of €3 billion in Germany alone. In the update published yesterday 11th June, Fitch said it expects the floods in Europe this year will be even more costly than the 2002 […]