reinsurance

Another forecaster we track has issued an early forecast for the 2021 Atlantic hurricane season, with WeatherBELL Analytics saying it anticipates another “very active season”, but with impacts potentially being seen further to the east and a warning about storms developing and intensifying closer into the US mainland.

Radian Guaranty, the US mortgage insurer entity of the Radian Group, has returned to the capital markets in search of collateralised reinsurance with what could be its largest mortgage insurance-linked securities (ILS) issuance since the pandemic outbreak, as it looks to sponsor a nearly $498 million Eagle Re 2021-1 Ltd. transaction.

The General Insurance Association of Japan (GIAJ) has said that insurance market losses from the July 2020 heavy rainfall event and related flooding in Kyushu, plus typhoon Haishen in September of last year have now risen by 9%.

Losses and IBNR reserves related to the COVID-19 coronavirus pandemic reported by major insurance and reinsurance companies have risen significantly during the first-quarter of 2021, with the total pandemic loss reported now nearing $38 billion, having risen by 21% during reporting for the final-quarter results of 2020.

In reinsurance, the impacts of unmodelled losses constitute a form of basis risk and after the last few years this has to begin getting priced in, according to Conduit Holdings Executive Chairman Neil Eckert.

South Korea’s government is being urged to establish a regulatory regime suited to issuance of insurance-linked securities (ILS) such as catastrophe bonds, as the country faces rising costs from natural disasters and uptake of disaster insurance is seen as too low.

The outstanding market size of catastrophe bonds and related insurance-linked securities (ILS) continued to grow in the first-quarter of 2021, reaching new highs of $34.34 billion, based on property cat, life, health and specialty or other line of business cat bonds, or $48.13 billion if you include the mortgage ILS deals we have listed on […]

The Atlantic hurricane season is forecast to be another busy one in 2021, with more than 16 named tropical storms expected, at least 7 of which are forecast to become hurricanes and at least 3 major hurricanes, according to forecaster Accuweather.

Florida is set to experience some of the steepest increases in rates and pricing of flood insurance coverage under the National Flood Insurance Program (NFIP) after the release of FEMA’s new Risk Rating 2.0 system comes into effect over the next year.

The CRESTA organisation believes that the Magnitude 7 earthquake that struck the Fukushima region of Japan on February 13th 2021 has the potential to cause more than US $1 billion of insurance and reinsurance market losses.