reinsurance

US property casualty insurer Travelers has expanded the size of its main Northeast Property Catastrophe Excess-of-Loss Reinsurance Treaty for 2022, with the reinsurance agreement now set to provide the company $750 million of cover.

Water levels in Germany’s river Rhine have dropped to levels that are now concerning shipping and transport companies, as well as those looking to trade and receive goods using the waterway, with levels forecast to decline close to where we understand parametric triggers for insurance have been set.

The Arch Capital Group sponsored collateralized reinsurance sidecar style special purpose insurance (SPI) vehicle Voussoir Re Ltd. has made another issuance of shares, the third so far that we’ve seen during 2022.

The insurance and reinsurance industry faced above average catastrophe losses from across the globe in the first-half of 2022, with the total coming to $39 billion, some 18% above the average, according to data from Aon.

European wildfire risk is a growing threat to insurance and reinsurance markets, with the amount of land burned jumping some 75% in just one year, but the exposure is hard to adequately price, according to specialist underwriter Chaucer.

Recent changes in the strategic direction of Florida property insurance players, as well as continuing failures and challenges for other carriers, show that “no capital structure remains immune” in this marketplace, which according to ALIRT Insurance Research continues to be in a sort of free fall.

Liechtenstein-based private bank VP Bank AG has told its clients it currently sees “good prospects” for investing into insurance-linked securities (ILS), with catastrophe bonds seen as a positive diversifying addition to portfolios.

Perhaps not an unexpected conclusion from a study on global flood risk, but the latest update to insurance and reinsurance broking group parent Marsh McLennan’s Flood Risk Index shows a dramatic increase in values-at-risk of flooding is possible with climate change.

A trio of investment bank insurance and reinsurance equity analyst teams have all forecast that US domestic catastrophe losses will be reported as above-average in the coming results season, with convective storms, hail and derecho events seen as drivers.

Rating agency Demotech, Inc. has received national recognition for its abilities as a credit rating agency from the United States Securities and Exchange Commission, becoming one of just ten rating agencies to be approved as an NRSRO.