insurance

Right now, there is an opportunity for institutional investors to harvest “the most pronounced risk-adjusted returns” from allocations to insurance-linked securities (ILS), according to Jo Stanton, Chair of ILS Bermuda and Head of Finance at Tangency Capital, speaking this morning at Convergence 2023.

Lawmakers in Florida have said that major property insurance legislation is not expected to be a feature of the state’s 2024 legislative session that begins in January, with time still needed to allow the already enacted changes to filter through and show up in insurer results.

Hurricane Lidia rapidly intensified on-approach to Mexico’s Pacific coast late yesterday, with the storm’s sustained wind speeds doubling and its central pressure dropping rapidly as it neared landfall, which could serve to drive some price pressure, or uncertainty at least, to the Class D notes of the Mexican governments IBRD / FONDEN 2020 catastrophe bond […]

Property insurance premiums in Florida are not expected to start falling anytime soon, despite the legislative efforts of lawmakers in the state, with reinsurance costs and reinsurers desire to be adequately compensated for the risks a key factor, according to risk modelling firm Karen Clark & Company (KCC).

Hurricane Lidia is bearing down on the western Pacific coast of Mexico with sustained winds of around 125 mph. Some additional strengthening is forecast, and the risk to the Mexican governments IBRD / FONDEN 2020 catastrophe bond has risen thanks to ongoing intensification of Lidia up to landfall.

AXA Climate, the parametric specialist risk transfer managing general agent (MGA) unit of global insurance and reinsurance company AXA, has hired former Global Parametrics employee Toby Behrmann to become Head of London Market & Public Private Partnerships at the firm.

Fiji has signed a committent letter with the Pacific Catastrophe Risk Insurance Company (PCRIC) to take-up its parametric cyclone insurance product, on the sidelines of the World Bank Group and International Monetary Fund Annual Meetings in Morocco yesterday.

Florida’s property insurance market continues to face challenges from a reduction in appetites, among many major insurers, to write property business in the state, with Progressive the latest to be reported to be pulling back.

HCI Group’s digital insurtech company TypTap is the latest to be approved to takeout policies from Florida’s Citizens Property Insurance Corporation, as interest grows in securing property insurance risk in bulk from the still-growing insurer of last resort.

According to data from catastrophe loss specialist CatIQ, the 2023 wildfires in British Columbia, Canada have become the 10th largest insurance industry loss event to ever hit the country.