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No doubt 2020 will be a banner year for cat bonds: Klugman, Swiss Re

The catastrophe bond market can look forward to a banner year in 2020, according to Judith Klugman, Head of ILS Sales for reinsurance firm Swiss Re's Alternative Capital Partners unit.Speaking to A.M. Best TV at our recent New York insurance-linked securities (ILS) market conference, ILS NYC 2020, Klugman discussed why read the full article →

FEMA secures $400m of NFIP cat bond reinsurance at mixed pricing

The U.S. Federal Emergency Management Agency (FEMA) has now secured its upsized target of $400 million of catastrophe bond backed flood reinsurance coverage for the NFIP from its third capital markets issuance, the FloodSmart Re Ltd. (Series 2020-1) transaction.FEMA's third catastrophe bond will now provide the Agency with an investor read the full article →

ILW pricing rises after renewals for US, EU & JP coverage triggers

Indicative pricing for industry-loss warranty (ILW) structured retrocessional reinsurance protection has risen for U.S. and European wind and storm related perils, with some relatively significant increases seen at certain trigger levels.These recent increases to indicative ILS pricing and rates-on-line have only been applied to certain broker pricing sheets after the read the full article →

Hurricane claims could rise 50%, climate may make premiums unaffordable, warns QBE

Australia headquartered global insurance and reinsurance group QBE warned today that parts of the globe risk becoming uninsurable as climate change is forecast to significantly increase claims costs and could make premium rates soar.QBE announced results today that were hit by higher catastrophe and weather related claims across its property read the full article →

Australian bushfire loss near A$1.6bn across 7 day period: PERILS

Insurance and reinsurance industry losses from the recent Australian bushfires across an hours clause appropriate seven consecutive day period are estimated at nearly A$1.6 billion (almost US $1.1bn) by PERILS AG.The latest information from the Insurance Council of Australia (ICA) puts the industry losses from the bushfires at A$1.9 billion read the full article →

Best of Artemis, week ending 16th February 2020

Here are the ten most popular news articles, week ending 16th February 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.Ten most read the full article →

Jamaica readies for first cat bond, already budgeting for its renewal

Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal.Jamaica's government has been working towards sponsoring its first catastrophe bond for at read the full article →

AIG enhances agg reinsurance, adds new occurrence, all at 7% lower cost

Insurance giant AIG has continued to enhance its catastrophe reinsurance program as it looks to take volatility out of its General Insurance business, further optimising its aggregate tower and adding new occurrence towers at the January renewals.AIG made some relatively significant changes to its reinsurance program at the middle of read the full article →

RMS pegs storm Ciara – Sabine industry loss at up to EUR 1.8bn

Catastrophe risk modelling firm RMS has come out with its first estimate for insurance and reinsurance industry losses from recent European windstorm Ciara - Sabine, pegging the total at up to EUR 1.8 billion.Interestingly, RMS' estimated range for industry losses from the storm that struck northern Europe last weekend is read the full article →

Lloyd’s plans for third-party & ILS capital appear pushed back

Lloyd’s of London appears to have lowered the priority level of its plans for welcome insurance-linked securities (ILS) capital into the insurance and reinsurance marketplace, as three other initiatives from its Blueprint One are set to be the immediate focus.When Lloyd's revealed its ambitious “Blueprint One” last September, the plan read the full article →