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Akinova looks to standardisation of ILS risk transfer with ACORD

Akinova, the start-up aiming to launch a platform or marketplace for the transfer and trading of insurance and reinsurance risks, has donated some of its data assets related to ILS to global standards-setting body ACORD.The aim is to showcase standardised insurance-linked securities (ILS) related assets more broadly to the insurance read the full article →

PERILS targets expansion into Japan

PERILS AG, the Zurich headquartered provider of catastrophe loss data and indices, is targeting expansion into the Japanese market and has hired an adviser to assist it.PERILS provides catastrophe loss data aggregation services, collecting data from certain insurance and reinsurance industry participants and reporting on losses, as well as providing read the full article →

Jebi above 1-in-40-year loss, development could continue: S&P

Typhoon Jebi's impacts on the global insurance and reinsurance market is already above the 1-in-40-year loss level, according to estimates from S&P Global Ratings, who also warn that further material developments cannot be ruled out.Typhoon Jebi will account for more than 15% of the top-20 global reinsurance firms catastrophe budgets, read the full article →

Jebi shows ILW triggers are better when official & supported

The rising insurance and reinsurance industry loss from 2018's typhoon Jebi in Japan has caused what some are privately terming chaos in the industry-loss warranty (ILW) market, as two widely used but unofficial trigger data sources still show estimates at below $10 billion.Industry loss warranties (ILW's) are relatively simple risk read the full article →

Rochdale ILW mutual fund continues net asset growth, rising 42%

City National Rochdale Select Strategies (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund, has continued to steadily grow its assets during its last reported quarter, although some loss impacts remain visible in the fund portfolio.The City National Rochdale Select Strategies Fund ($CNRLX) ILW focused reinsurance read the full article →

PERILS acquires Canadian loss & exposure data firm CatIQ

PERILS AG, the Zurich headquartered provider of catastrophe loss data and indices, has announced that it has acquired Canadian loss and exposure data firm Catastrophe Indices & Quantification Inc. (CatIQ).Toronto based CatIQ provides catastrophe loss and exposure information in Canada, collecting event loss and exposure data from most of the read the full article →

Bermuda’s first insurance regulatory sandbox licence goes to Akinova

The Bermuda Monetary Authority (BMA) has authorised the first licence for its insurance regulatory sandbox, giving it to Akinova, the start-up aiming to launch a marketplace for the transfer and trading of insurance or reinsurance risks.Insurance technology (insurtech) start-up Akinova has already been registered an entity in Bermuda, AkinovA (Bermuda) read the full article →

ILW market dynamics offer attractive investment potential

The industry loss warranty (ILW) market offers an attractive investment opportunity at this point in time, as market dynamics have reduced available capacity, meaning fewer coverage providers exist right now and ILW returns are on the rise.Those ILS markets for which ILWs and other index-linked reinsurance and retrocession products are read the full article →

SCOR’s results confirm Japanese typhoon loss creep trend from Jebi & Trami

Results announced this morning by global reinsurance firm SCOR confirm the loss creep trend we're expecting to see from Japanese typhoons Jebi and Trami, as the company revealed a EUR 53 million hit to profits.Yesterday, Bermudian insurance and reinsurance firm AXIS Capital revealed a $30 million Japan typhoon loss creep read the full article →

Hurricane Michael upgraded to first U.S. Cat 5 landfall since Andrew

Hurricane Michael's wind speeds at landfall in Florida have been upgraded by the U.S. NOAA’s National Hurricane Center scientists in their final tropical cyclone report, now estimating them as having reached Category 5 at 160 mph.This means hurricane Michael, which slammed into the Florida Panhandle region in October 2018, has read the full article →