industry loss index

Property Claim Services (PCS), a Verisk Analytics business, has launched a new service offering non-elemental historical industry loss estimates for the global marine and energy insurance and reinsurance sector, as well as a risk-transfer index to facilitate transactions.

Lloyd’s of London still aims to attract more alternative capital providers and products into the market by the end of 2018, as its interim milestones remain unchanged, and will revisit the Index featuring loss ratios and data on the insurance market’s performance, at the end of this year, Inga Beale said today.

PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data and indices, has updated the underlying loss model of its Wind-Jeannie tool in advance of the coming 2016/17 European windstorm season.

The specialist Lloyd’s of London insurance and reinsurance market has recognised a need to modernise in order to remain a key player in the changing industry landscape, including how it embraces capital from third-party investors.

The Lloyd’s of London insurance and reinsurance market has put its plans to launch an index for diversified insurance risks, featuring loss ratios and data on the insurance market’s performance, on hold as understanding the impact of Brexit takes priority.

With the expected mid-2016 launch of the Lloyd’s index from specialist insurance and reinsurance marketplace Lloyd’s of London being delayed, Optex, a risk transfer provider to the re/insurance and capital markets’, has highlighted the potential for market participants to utilise its own variant, Lloyd’s Lite.

Lloyd’s ‘names’ are perhaps the original incarnation of third-party capital in the insurance and reinsurance market. Largely high net worth individuals, who backed syndicates and often took on unlimited liability, the ‘names’ model is set for change and could begin to look at lot like ILS capital.

Alternative capital and insurance-linked securities (ILS) are set to continue to disrupt the insurance and reinsurance market, according to Chairman of Lloyd’s of London John Nelson, reshaping the industry and continuing to pressure catastrophe lines of business.

Leadership changes have been announced at Property Claim Services® (PCS), the division of Verisk Insurance Solutions that collects and aggregates insurance industry loss data which is widely used in reinsurance, industry loss warranty (ILW) and catastrophe bond transaction.

Another year passes, another annual report from the Lloyd’s of London insurance and reinsurance market is released and we witness another increase in the positive tone in which the market describes the opportunity to embrace ILS and alternative capital.