reinsurance

Here are the ten most popular news articles, week ending August 14th 2022, 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.

In recent months, if you’re interested in insurance-linked securities (ILS) or active in the ILS marketplace, you could not have missed the widely discussed issues of spread widening seen in catastrophe bonds, or the hardening of reinsurance pricing and how that spills over to ILS rates and returns.

Peak Re, the Hong Kong based global reinsurance company, has announced the promotion of Piotr Nowakowski to become the new Chief Underwriting Officer (CUO) of the company.

When reinsurance capacity becomes scarce, or less available, as has been seen in Florida and at the mid-year renewals, capacity becomes “King” and those with availability of it are no doubt very popular.

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched new parametric snow insurance covers that are financially supported through derivatives agreements with ILS fund manager Nephila Capital, as well as new reinsurance agreements.

In reporting its fiscal year 2022 results this morning, Australian primary insurance giant Insurance Australia Group (IAG) has announced that it is lifting its natural perils budget by 19% to deal with “the increasing severity and frequency of extreme weather events.”

Newly litigated property insurance claims at Florida’s largest P&C insurers continue to be relatively flat, with the number fluctuating between 4,000 and 4,700 per month so far in 2022, according to the latest data from CaseGlide.

Having been acquired by New York headquartered financial services group Cowen, the Guernsey based, previously Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited remains under review, from a ratings perspective, given uncertainty related to its parent and the eventual strategy it will take.

Global insurance and reinsurance giant Zurich has detailed some changes to its reinsurance program at the end of the first-half of 2022, with its global catastrophe treaty expanding in terms of coverage, while in Europe its’ retention has dropped.

HCI Group, Inc., the Florida headquartered property and casualty insurer and parent of Homeowners Choice Property & Casualty Insurance Company and insurtech TypTap, sees an opportunity to expand into the Florida market on its own terms, CEO Paresh Patel has said.