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Hudson Structured backs Aon’s “ILS friendly” solution for intellectual property assets

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, was the largest capacity provider to back a first transaction from a new financing solution for intellectual property assets created by broking group Aon. Terming the solution "an innovative ILS friendly structure", Edouard von Herberstein, Partner read the full article →

Florida Citizens growth suggests takeout opportunity returning

The opportunity to takeout insurance policies from Florida's Citizens Property Insurance Corporation may return once again, as the insurers portfolio is expanding faster than it expected and it feels some of the book may be attractive. Florida Citizens had previously said that the state of the Florida insurance market would drive read the full article →

Leadenhall assists on physical climate risk disclosure guidelines

The Climate Measurement Standards Initiative (CMSI), an Australian led collaboration on the physical risks of climate change and their disclosure, has developed a set of open-source, voluntary guidelines to help banks, financial institutions and insurers better assess the risk and quantify the costs of climate-related damage. London-headquartered insurance-linked securities (ILS) and read the full article →

Climate change a systemic risk without global action: Munich Re’s Jeworrek

Global action to combat climate change is essential to avoid the exposure becoming systemic in nature, which might cause it to become less insurable, according to Munich Re's CEO of Reinsurance, Torsten Jeworrek. Speaking during a media briefing held as a virtual replacement for the Monte Carlo Rendez-Vous event, which was read the full article →

Global Parametrics & Hannover Re renew Yucatan coral reef cover

Global Parametrics, the parametric and index-based disaster risk transfer company, has partnered with global reinsurance firm Hannover Re to renew an innovative Yucatan, Mexico coral reef parametric insurance cover. The transaction renews the coverage for the Mexican Reef Protection Program, an initiative that leverages parametric risk transfer and reinsurance capacity, in read the full article →

Undeniable climate change impact starting to get priced in: Hilti, Credit Suisse

Following the increased severity and frequency of wildfires, droughts and floods in recent times, the undeniable impact of climate change on water-related catastrophes is starting to get priced in and risk premiums are adjusting, according to Niklaus Hilti, Head of Credit Suisse’s Insurance-Linked Strategies division. In a recent interview, experienced insurance-linked read the full article →

Florida Citizens 17% growth in 2020 may drive reinsurance requirements

Florida’s Citizens Property Insurance Corporation is likely to see an increasing need for more risk transfer and reinsurance over the coming year, as it forecasts that its assumption of risk and policies will accelerate, with the state of the Florida insurance market set to drive its portfolio up by 17% read the full article →

Weather risks remain insurable (with adaptation actions), says Swiss Re

Insurance and reinsurance companies need to adapt to a "dynamic risk landscape" to incorporate socio-economic factors, climate change research and risk mitigation in their modelling, in order to keep weather risks insurable, Swiss Re warned today. In 2019, extreme weather events were once again the main driver of losses for the read the full article →

Risk transfer, reinsurance key to address reality of climate change: Guy Carpenter

The reality of climate change needs to be addressed and addressed fast by countries, governments and public sector entities, and the risk transfer, reinsurance and insurance-linked securities (ILS) sectors are well-placed to assist, according to Guy Carpenter. The catastrophe bond is highlighted as a key risk transfer and resilience financing tool read the full article →

Climate change could drive extreme weather losses 40% higher: Researchers

Economic losses from extreme weather related events could increase by 40% by 2040 due to the influence of climate change, according to researchers. Researchers from the Cambridge Centre for Risk Studies found that climate change could add some $100 billion of additional losses to extreme weather events globally, with an increase read the full article →