Structural changes protecting reinsurance capital providers from SCS losses: S&P
Were it not for the structural changes and adjustments to reinsurance contract terms made over the last few rounds of renewals, the severe convective storm activity in the United States this year would have been far more impactful to reinsurance capital providers, S&P Global Ratings has said. Losses from so-called secondary read the full article →
Liberty Mutual Re backs parametric insurance for Kenyan coffee growers
Liberty Mutual Reinsurance (Liberty Mutual Re), the reinsurance arm of the Liberty Mutual insurance group, is providing the capacity to support a new parametric insurance program to benefit Kenyan coffee growers. Working with insurtech Sprout, Inc (Sprout) and diversified financial services firm Britam as the local underwriter, this new parametric insurance read the full article →
UCITS cat bond funds average 6.35% YTD, second-highest annual return since 2011
Catastrophe bond funds in the UCITS format had reached an average return year-to-date of 6.35% by August 2nd 2024, which is the second-highest annual return since the Plenum CAT Bond UCITS Fund Indices started tracking the market in 2011. The year-to-date return of this group of catastrophe bonds is only second read the full article →
Ernesto a potential hurricane threat to Bermuda. Ampil a potential typhoon threat to Tokyo
Two tropical cyclones on opposite sides of the world will be watched closely by interests in the reinsurance and insurance-linked securities (ILS) market over the coming days, with tropical storm Ernesto seen as a potential hurricane threat to Bermuda and tropical storm Ampil in the Pacific seen as a potential read the full article →
ARC grows, diversifies, but keeping reinsurance expenses in check crucial: Ndlovu
African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, has commemorated its ten-year anniversary and said it has now paid out over $170 million in claims. “From covering 12.9 million people in 2014, we protected 26.4 million in 2023. read the full article →
Florida insurance market sees first reinsurance price decrease in years: FLOIR
According to the Florida Office of Insurance Regulation (OIR), for the first time in years its Annual Reinsurance Data Call has found that, on average, insurance carriers operating in the state have seen a decrease in the price of their reinsurance. This comes at a time when the regulator is keen read the full article →
Australian investment giant Colonial First State said looking for cat bond deployment
Colonial First State, one of the largest Australian institutional investors, is looking to deploy some of its near US $100 billion of assets into the catastrophe bond market, according to a report from Bloomberg. Interest in insurance-linked securities (ILS) has been on the rise again among Australian pensions and managers of read the full article →
Artemis London 2024: Early Bird rate expires after tomorrow
The Early Bird rate for our upcoming catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd will end after tomorrow (Aug 13th). So if you plan to attend Artemis London 2024 you should register very soon to secure the lowest price attendance. Attendees from more than read the full article →
NOAA & CSU reduce named storm numbers, but keep hurricane forecast high
US weather service NOAA and the Colorado State University (CSU) tropical meteorology team have updated their forecasts for the 2024 Atlantic hurricane season and while they have reduced slightly the number of named storms expected, overall the forecast still calls for a very active hurricane season this year. Back in May, read the full article →
Hannover Re’s Kaith Re issues $10m Seaside Re 2024-61 private cat bond
Kaith Re Ltd., the transformer vehicle owned by global reinsurance firm Hannover Re, has issued another private catastrophe bond, with just over $10 million of Seaside Re (Series 2024-61) notes sold to investors. Hannover Re has been helping market participants and its clients with the matching of reinsurance risks to capital read the full article →
