ILS “increasingly front & center” for investment & risk transfer: WTW

Insurance-linked securities (ILS) in their various forms are "increasingly front and center" when it comes to selecting risk transfer and investment options, broker Willis Towers Watson believes.The insurance and reinsurance broker surveyed the ILS market, both cedant companies and investors, to take the temperature of the market, finding that the read the full article →

Cat bond funds see record monthly returns on Dorian recovery

Catastrophe bond funds are reporting bumper September returns, in some cases beating their records, as they benefit from the full recovery of hurricane Dorian exposed cat bond valuations.When hurricane Dorian was intensifying rapidly on approach to the Bahamas right at the end of August the main risk models were suggesting read the full article →

RenRe’s Fibonacci Re ILS investors redeem more of their capital

Investors in RenaissanceRe's insurance-linked securities (ILS) vehicle Fibonacci Re Ltd. have been able to redeem some more of their capital, while one tranche has now been allowed to fully mature and the other extended further.RenaissanceRe, the Bermudian reinsurance firm and third-party capital manager, has been managing its Fibonacci Re Ltd. read the full article →

Munich Re sees strong Q3, but cites “high major-loss expenditure”

Reinsurance giant Munich Re said this morning that it expects a strong third-quarter result and to beat its full-year forecast, despite the impact of a "high major loss expenditure."Munich Re expects its consolidated result for the third-quarter of 2019 will be around €850 million.This despite the expectation of catastrophe losses read the full article →

Arch’s mortgage ILS pass $4.7bn as $577m Bellemeade Re 2019-4 closes

The fourth mortgage insurance-linked securities (ILS) transaction of the year for Bermuda-headquartered re/insurer Arch Capital Group Ltd. takes its total issuance of mortgage ILS notes to over $4.7 billion, thanks to the $577 million Bellemeade Re 2019-4 Ltd. deal.As we reported over a week ago, Arch Capital returned to the read the full article →

Typhoon impacts to drain AIG’s reinsurance cover: Analysts

Insurance giant American International Group (AIG) is likely to severely drain its reinsurance protection for Japanese loss events after it accounts for its losses from typhoons Faxai and Hagibis, according to analysts,Equity analysts from Credit Suisse claim that AIG could have used up its per-occurrence reinsurance protection going into losses read the full article →

Similar quake to Loma Prieta could cost re/insurers $27bn: RMS

If the Loma Prieta earthquake that struck California’s Central Coast on October 17th 1989 were to occur again today, the economic impact would be more than six times higher at $38 billion, while insurance and reinsurance carriers would face a more than four times larger bill at $4 billion, RMS read the full article →

United (UPC) sees $61m Q3 dent from catastrophes & adverse development

Florida headquartered and expanding primary insurer United Insurance Holdings (UPC Insurance) said that it expects its third-quarter 2019 results will be dented by roughly $61 million of retained catastrophe losses and adverse development from previous events.The company has a robust reinsurance program in place, including aggregate reinsurance protection for multiple read the full article →

CCRIF grows risk pool as Guatemala buys parametric insurance

CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric insurance risk pool with the addition of a new member in Central American nation Guatemala.Guatemala has purchased a parametric rainfall insurance policy for the 2019/20 policy year from the CCRIF, which takes the facilities membership to 22 read the full article →

Markel CATCo sets loss reserves for Dorian & Faxai, monitors Hagibis

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management has now established specific loss reserves for recent catastrophes hurricane Dorian and typhoon Faxai.The manager also says it is monitoring more recent typhoon Hagibis, in case its impacts on Japan also warrant the setting up of any side pocket investments.Markel CATCo read the full article →