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Pre-disaster financing with quick payouts a solution to catastrophic events: AXA XL

When natural disasters strike around the world the single biggest solution to aid recovery is pre-disaster financing (predominantly insurance or reinsurance based products), with the ability to payout rapidly, according to AXA XL. Working alongside the Centre for Risk Studies (CCRS) at Cambridge Judge Business School, AXA XL has published a read the full article →

African Risk Capacity expands cover to non-sovereign risk transfer buyers

The African Risk Capacity (ARC), which has so far provided parametric disaster insurance products to countries in Africa, is set to expand its client base to include non-sovereign actors, as it looks to grow and diversify its portfolio of risks. The African Risk Capacity (ARC) has only provided risk transfer and read the full article →

Florida Citizens growth suggests takeout opportunity returning

The opportunity to takeout insurance policies from Florida's Citizens Property Insurance Corporation may return once again, as the insurers portfolio is expanding faster than it expected and it feels some of the book may be attractive. Florida Citizens had previously said that the state of the Florida insurance market would drive read the full article →

Catastrophe bonds a win-win for governments & investors, says APEC

The Asia-Pacific Economic Cooperation (APEC) continues to see the development of a regional catastrophe bond market as positive, highlighting at a recent workshop that cat bonds are a win-win relationship for governments and investors. The workshop last week was convened by The World Bank Treasury alongside the APEC Business Advisory Council read the full article →

California wildfires flare up again in critical fire weather conditions

Wildfires in California have once again flared up and begun to expand, as critical fire weather conditions set in over the weekend resulting in evacuation orders and warnings. The 2020 wildfire season in California is now the largest on record, with 7,928 fire incidents having already burned some 3.63 million acres  read the full article →

Nat cat protection gap widened in 2019 including in North America

Despite the fact insurance and reinsurance markets become increasingly sophisticated in their use of technology to reach customers and provide enhanced coverage, in North America, perhaps the most advanced economy in insured terms, the natural catastrophe protection gap actually widened by over 7% in 2019. It should perhaps be considered an read the full article →

Cat bond & ILS coupons should compensate as climate increases hurricane risk: Twelve Capital

Climate change, variability and the expected increases in Atlantic hurricane risk that these factors will drive, is still likely to be compensated for in catastrophe bond and private insurance-linked securities (ILS) coupons, as pricing should rise and consequently returns, in line with the risk, according to ILS manager Twelve Capital. Twelve read the full article →

Hurricane Sally U.S. insured losses estimated up to $3.5bn by RMS

Catastrophe risk modeller RMS has estimated that total U.S. insurance and reinsurance industry losses from Hurricane Sally will be between $2 billion and $3.5 billion. This estimate, which includes wind, storm surge, and inland flood losses across parts of the Gulf and Florida regions, also includes losses to the National Flood read the full article →

Florida market challenges mean investors aren’t lining up: TigerRisk execs

The cyclical nature of the Florida property insurance market is just one of the challenges facing those operating there, with issues around claims litigation, assignment of benefits (AOB) and its exposure to hurricanes and severe weather all making for a marketplace that is difficult to navigate. But the challenges faced in read the full article →

Pricing momentum may extend beyond 2021: Morgan Stanley

Analysts at Morgan Stanley said that pricing momentum across insurance and reinsurance may extend beyond 2021, as a return to profitability remains a priority for reinsurers, while insurance-linked securities (ILS) specialists focus on delivering sustainable returns to investors. Rate momentum in reinsurance is expected to continue catching up with primary insurance read the full article →