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Catastrophe losses running 30% above average after April: Jefferies

Despite April being a quieter month globally for insurance and reinsurance market losses caused by natural catastrophes and severe weather, analysts at investment bank Jefferies still estimate that claims year-to-date are running approximately 30% above average. After the first-quarter of the year insurance and reinsurance market losses from natural catastrophes and read the full article →

Aon sells German pensions business to LCP, as further step towards WTW merger

Insurance and reinsurance broker Aon is selling its German pension and retirement consulting and investment business to Lane Clark & Peacock LLP (LCP), in another divestment designed to gain European Commission (EC) approval for its acquisition of rival Willis Towers Watson (WTW). Aon and Willis Towers Watson (WTW) announced last week read the full article →

Florida ILW price indications up as much as 50% year-on-year

With the Florida reinsurance renewals fast approaching, it's interesting to learn that indicative pricing for industry-loss warranty (ILW) protection covering hurricanes affecting the state is up significantly year-on-year, but actual market pricing may be flat or even down. Please read our update at the foot of this article. The market for read the full article →

Artemis Live interview: ILS appetite for political violence risks, with PCS’ Johansmeyer

For our latest Artemis Live interview we were joined by Tom Johansmeyer, Head of PCS, to discuss the insurance-linked securities (ILS) market's appetite to invest in strike, riot & civil commotion (SRCC) or political violence related reinsurance risks. The discussion came about because of a recent piece of work undertaken by read the full article →

WTW assets to expand Gallagher reinsurance value proposition: CEO

The Willis Towers Watson (WTW) reinsurance related assets that Arthur J. Gallager (AJG) is purchasing are set to significantly expand the brokerages global reinsurance value proposition, CEO Pat Gallagher has said. AJG, or Gallagher's acquisition of a package of divestment assets related to the Aon and Willis Towers Watson (WTW) merger read the full article →

Aon & WTW agree $3.57bn sale of assets to Gallagher, including Willis Re

Broking giants Aon and Willis Towers Watson (WTW) are one step closer to completing their planned merger, announcing the agreement of a sale of assets to rival Gallagher in a package valued at $3.57 billion and including reinsurance broking arm Willis Re. Arthur J. Gallagher & Co. (Gallagher) will acquire reinsurance read the full article →

US insurers face multi-billion losses from April thunderstorms: Aon

The insurance industry and likely some reinsurance capital providers are facing a share of multi-billion dollar losses from severe thunderstorm related catastrophe impacts during the month of April 2021, broker Aon has said. The biggest event of the month was the severe hail storms that struck three areas, across Oklahoma and read the full article →

Live webcast: Hedging the next pandemic with parametric capital market solutions

Vesttoo and Artemis have partnered to host a live webcast on May 25th 2021 where we will discuss and explain opportunities to hedge the next pandemic, using parametric risk transfer, facilitated through the use of data and technology, as well as capacity from the capital markets. Register online here to secure read the full article →

Japan rainfall, typhoon Haishen, January snowfall losses near $2.3bn

Insurance market losses from some of the larger catastrophe events to strike Japan over the last year have risen, with the latest figures for the July 2020 extreme rains, September 2020's typhoon Haishen and January 2021's snowfall event combining to near US $2.3 billion. The General Insurance Association of Japan (GIAJ) read the full article →

Cat bond to narrow Jamaica’s natural disaster financing gap: World Bank

Work continues on the first catastrophe bond for Jamaica and the World Bank has highlighted how the soon to be launched transaction will help to narrow the Caribbean nations natural disaster financing gap. As yet, the World Bank's catastrophe bond for Jamaica has not come to market, but it is expected read the full article →