Retrocession

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ILS capacity tightening to influence June renewals: A.M. Best

An expected tightening of third-party reinsurance capital from insurance-linked securities (ILS) funds and structures is likely to influence pricing at the upcoming mid-year reinsurance renewals, according to A.M. Best.The rating agency explained that while the reinsurance market is adapting to operating under Covid-19 coronavirus pandemic conditions, the fact ILS capacity read the full article →

Premiums ceded to Mt. Logan Re outpaced losses in 2019 for Everest Re

Global insurance and reinsurance group Everest Re ceded more premiums to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in 2019 than losses, the first year since 2016 when catastrophe impacts have been far outpaced by premium growth.While 2019 saw its fair share of major global catastrophe loss events read the full article →

Varied April renewal outcomes for ILS funds, as Covid-19 bites

The April reinsurance renewals saw significant rate increases that offered a chance for insurance-linked securities (ILS) funds to create a much higher returning book of Japanese catastrophe risk for their portfolios, but the results appear to have been uneven.While loss-hit Japanese catastrophe reinsurance towers exposed to wind and flood saw read the full article →

Rates rise up to 50%, ILS capacity down at 1.4 reinsurance renewal: Willis Re

Reinsurance rates rose by as much as 50% at the 1.4 April reinsurance renewals according to Willis Re, but the insurance-linked securities (ILS) market is reported to have deployed slightly less capacity as some ILS funds dealt with redemption requests.The Covid-19 coronavirus pandemic escalated right as the April reinsurance renewals read the full article →

Precedents seen for some Covid-19 business interruption claims

Plaintiff attorneys believe there are a number of legal precedents that could mean insurers end up taking more business interruption claims from the Covid-19 coronavirus pandemic than initially thought, which analysts say suggests a rising risk of the impact being greater than anticipated.As we explained last week, legal actions seeking read the full article →

Rumball promoted to Head of Willis Re Speciality – North America

Reinsurance broker Willis Re has promoted Charlie Rumball, currently of its Bermuda specialty and retrocession broking team, to the role of Head of Speciality – North America.Rumball had previously been the head of Specialty Reinsurance at Ariel Re, before joining Willis Re in 2018.Based in Bermuda, Rumball has been working read the full article →

Pandemic parametric triggers Q&A with Tom Johansmeyer, PCS

Pandemic protection. Is it included, excluded, or even mentioned in a policy or program? Even if it is, is the coverage responsive enough to really help the protection buyer, or should parametric solutions be looked at? If so, how to ensure they are robust?At a time when interest in pandemic read the full article →

SCOR delays new Atlas Capital cat bond, cites Covid-19 disruption

France headquartered global reinsurance company SCOR has suspended the marketing of its new catastrophe bond, Atlas Capital Reinsurance 2020 DAC (Series 2020-1), citing the market disruption created by the current pandemic.SCOR returned to the catastrophe bond market just a fortnight ago with its latest Atlas Capital transaction, as it sought read the full article →

Demand for fully collateralised cover may rise on pandemic risk awareness

There is a chance that reinsurance and retrocession buyers begin to favour fully collateralised protection more highly again, as they become increasingly aware that there are financial and economic risks which of a scale that can threaten traditional re/insurer solvency.The insurance-linked securities (ILS) market was a fully collateralised source of read the full article →

Survey on the re/insurance implications of Covid-19 coronavirus pandemic

Alongside our sister publication Reinsurance News, we've launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic.We are witnessing history unfolding as a global industry that is profoundly connected and affected – personally and read the full article →