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Timing more important than tenure for ILS investors: Lane at ILS Asia

While it’s not essential to invest in the insurance-linked securities (ILS) asset class for decades to achieve expected returns, it is important that investors time their entry into the space, according to Morton Lane, President, Lane Financial LLC and Director, MSFE Program, The University of Illinois in Urbana-Champaign. As part of read the full article →

Public market status can add cat bond transparency & efficiency: Lane at ILS Asia 2021

Were the U.S. Securities and Exchange Commission (SEC) to recognise the maturity of the catastrophe bond marketplace and consider it a public market, it would help both the efficiency and transparency of this part of the insurance-linked securities (ILS) industry, according to Morton Lane. The penultimate day of our virtual ILS read the full article →

Parametric hail insurance with sensors launched by Understory & MSI GuaranteedWeather

An innovative new sensor derived and triggered parametric insurance policy designed to cover auto dealer lots against hail storm damage has been launched by insurtech Understory, backed by MSI GuaranteedWeather and reinsurance capital. Understory has developed and manufactured its own weather and climate sensors, which it calls the Dot sensor, to read the full article →

Canadian severe weather drives $1.9bn of insured losses in 2018

Outbreaks of severe weather in Canada drove around $1.9 billion of losses to the insurance and reinsurance industry in 2018, with a windstorm in Ontario and Quebec in May driving the largest share. The Insurance Bureau of Canada says that the severe weather losses highlight the financial costs that insurance, read the full article →

Hail losses no longer attritional, hail reinsurance recomended: RMS

Insurance industry losses from hail storms and extreme hail events are rising, with recent storms showing that hail should no longer be considered just an attritional loss causing peril, according to risk modeller RMS. Matthew Nielsen, a director and meteorologist at RMS, commented on recent hail events; “This week’s severe storms read the full article →

Successor X V-F4 catastrophe bond notes climb back towards par

Over the last few weeks, secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes are considered by investors to be increasingly less likely to face any losses from the superstorm. The pricing indications from secondary cat read the full article →

$1.1 trillion U.S. residential property value exposed to hurricane storm surge

According to the latest report from modeling, data and analytics firm CoreLogic the total value of residential property at risk of hurricane storm surge damage is now estimated at $1.1 trillion. The report contains updated estimates for both the number and value of single-family homes exposed to hurricane-driven storm-surge damage read the full article →

S&P remove Residential Re 2011 & 2012 cat bond notes from CreditWatch and affirm

Rating agency Standard & Poor’s have resolved the rating uncertainty on two aggregate tranches of catastrophe bond notes from USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1) and Residential Reinsurance 2012 Ltd. (Series 2012-1) transactions. Both tranches had been on CreditWatch since the 6th November due to the potential impact of read the full article →

Successor X V-F4 catastrophe bond notes still in the doldrums over Sandy

The latest secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes continue to be considered at risk by investors. Pricing indications are a good measure of investor sentiment and while the average price has risen read the full article →

Cat bond pricing shows investor concern over Sandy and Successor X V-F4

Some of the latest pricing indications for secondary catastrophe bonds show that investors have real concerns that the final industry loss total from hurricane Sandy could be sufficiently high to trigger the Successor X Ltd. (Series 2011-3) Class V-F4 notes. The Successor notes are the last cat bond which is read the full article →