WRMS expands parametric & index climate insurance solutions to Latin America
Weather Risk Management Services (WRMS), a specialist Indian company that has created a successful business in offering agriculture and risk management services, including parametric or index-based climate and catastrophe insurance solutions, is targeting expansion in Latin America. The company is to begin by entering markets across Latin America, naming Argentina, Paraguay, read the full article →
Conduit Re hires Nick Pritchard in Bermuda with alternative capital manager remit
Conduit Re, the pure-play reinsurance company, has hired well-known Bermuda market executive Nick Pritchard, who has joined the company as Underwriting Portfolio & Alternative Capital Manager. Pritchard is well-known in the property catastrophe reinsurance and retrocession space and has a background that includes working with third-party reinsurance capital and insurance-linked securities read the full article →
Hurricane Francine insurance industry loss seen in range ~$1bn to $3bn
Early estimates of insurance industry losses for hurricane Francine are coalescing around the $1 billion mark to a maximum $3 billion, with the majority expected to fall to primary insurers with larger footprints in Louisiana. As we reported earlier, analysts from RBC Capital Markets said that Francine's losses are expected to read the full article →
Hurricane Francine losses manageable for P&C insurers, minimal for reinsurance: RBC
According to equity analysts at RBC Capital Markets, hurricane Francine is expected to be a manageable loss for the property and casualty insurance industry, while little in the way of loss impact is expected for the reinsurance market. While Francine was the third hurricane landfall of the 2024 season for the read the full article →
Aeolus hires former Blackstone & PIMCO exec Henry as MD in Biz Dev & IR
Aeolus Capital Management Ltd., the specialist insurance-linked securities (ILS) and reinsurance investment manager, has strengthened its business development and investor relations team with the hiring of former Blackstone and PIMCO executive Maya Henry. Henry has joined Aeolus Capital Management as a Managing Director in the firm's Business Development and Investor Relations read the full article →
More reinsurance capital to support well-structured aggregate covers at renewals
One of the takeaways from the Monte Carlo Rendez-Vous this year is that brokers are calling on reinsurance companies and ILS funds to provide more support for their clients frequency loss exposures and while the markets are in the main not overly keen, there is going to be more capital read the full article →
As alternative capital grows, limited impact seen to reinsurance price & terms: Moody’s
As alternative capital in the reinsurance industry is expected to continue to grow, despite this Moody's Ratings is not expecting any significant impact to pricing or policy terms for the rest of 2024 and in 2025, believing discipline will remain key for the ILS market. As insurance-linked securities (ILS) markets continue read the full article →
Calgary hailstorm is Canada’s second largest insured loss event ever at $2.8bn: CatIQ
A hailstorm that struck the Calgary area of Canada in August 2024 is now the second-largest insurance industry loss event in the country's history at C$2.8 billion, according to CatIQ. This is just an initial insurance industry loss estimate from CatIQ as well, meaning there will likely be some creep at read the full article →
More Australian pensions deploy to ILS. Rest Super picks Twelve for cat bonds
More Australian pension super funds have begun allocating to insurance-linked securities (ILS), according to Bloomberg, as the publisher names Rest Super and Host Plus as allocating to the space. Artemis has learned that Rest Super has invested with manager Twelve Capital for catastrophe bonds. Rest Super is a pension and retirement read the full article →
CelsiusPro tech now powering parametric Pacific cyclone cover for NZ insurer Tower
CelsiusPro and New Zealand based primary insurance group Tower continue their partnership on a parametric Pacific cyclone insurance product, with an upgraded technology platform now supporting product distribution and administration of the JTWC data powered parametric insurance solution. CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, read the full article →
