Rated paper & ILS may be favoured over collateralized UNL retro at renewals: Aon

Retrocessional reinsurance coverage written by rated carriers, as well as other insurance-linked securities (ILS) products such as industry-loss based instruments, may find themselves in favour over collateralized ultimate net loss retro at the upcoming renewals, Aon executives said recently. Speaking during a media briefing held in place of the Monte Carlo read the full article →

Hurricane Sally U.S. insured losses estimated up to $3.5bn by RMS

Catastrophe risk modeller RMS has estimated that total U.S. insurance and reinsurance industry losses from Hurricane Sally will be between $2 billion and $3.5 billion. This estimate, which includes wind, storm surge, and inland flood losses across parts of the Gulf and Florida regions, also includes losses to the National Flood read the full article →

Did the ILS market grow at the wrong time? – Redhead, Lancashire

Darren Redhead, chief executive of Lancashire Capital Management, acknowledges that four years in a row of trapped collateral, on the back of major natural catastrophes in 2017, 2018 and 2019 and, latterly, the uncertainty stemming from COVID-related claims, does pose a challenge. "Are we too low as a market?" he asked. read the full article →

Pricing momentum may extend beyond 2021: Morgan Stanley

Analysts at Morgan Stanley said that pricing momentum across insurance and reinsurance may extend beyond 2021, as a return to profitability remains a priority for reinsurers, while insurance-linked securities (ILS) specialists focus on delivering sustainable returns to investors. Rate momentum in reinsurance is expected to continue catching up with primary insurance read the full article →

Sidecars helped Swiss Re attract capital in difficult times: CEO Mumenthaler

The alignment inherent in the collateralised reinsurance sidecar vehicles that Swiss Re operates has helped the company to attract fresh ILS capital even during difficult times, the firms CEO Christian Mumenthaler told us. Speaking in a recent Artemis Live video interview, Mumenthaler explained how the world's largest reinsurer Swiss Re is read the full article →

Asian ILS market to benefit regional re/insurers: Fitch

The development and growth of an insurance-linked securities (ILS) market in Asia can only be a benefit to local insurance and reinsurance carriers, as well as those operating regionally, as the capital markets capacity can help them expand their ability to underwrite and diversify capacity sources, rating agency Fitch explained read the full article →

We’ll know we’re in a hard market when deals don’t get done: Hamilton Re’s Brown

David Brown, Chairman and interim CEO of Bermuda-based reinsurer Hamilton Re, has said that reinsurers should be looking for “better pricing and better terms” at the end of year renewals. Speaking in an interview with Artemis around the time of this year’s virtual Monte Carlo Rendez-vous event, Brown said that he read the full article →

Collateral held in trust for ILS transactions rises 11% for Hannover Re

Global reinsurance firm Hannover Re has been quietly expanding its activities in the insurance-linked securities (ILS) space for some time, as a key facilitators for collateralised transactions and acting as a front for certain ILS funds and investors. Every so often, more details emerge on the growth of this side of read the full article →

Hurricane Sally losses estimated between $1bn and $3bn by AIR

The insurance and reinsurance industry loss estimates for recent hurricane Sally are coming in thick and fast, with catastrophe risk modeller AIR Worldwide now releasing an official estimate for insured losses of between $1 billion and $3 billion. AIR's estimate is based on industry insured losses to onshore property from damage read the full article →

Hurricane Sally insured onshore property losses said $2bn by KCC

Onshore property losses for the private insurance and reinsurance market from recent hurricane Sally are estimated at just $2 billion by catastrophe risk modeller Karen Clark & Company. The estimate released today includes private insurance market losses caused by wind and storm surge damage to residential, commercial, and industrial properties and read the full article →