reinsurance

According to industry association the Insurance Information Institute (Triple-I), it is demographic changes and the build-up of exposures in catastrophe exposed regions of the United States that are driving higher industry catastrophe losses, not weather or climate change.

Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting and investment management unit of the Hiscox Group, raised investor funds to deploy into specific opportunities around the mid-year reinsurance renewals.

The financial regulator in Egypt has become the latest government entity to look to implementation of an insurance-linked securities (ILS) framework within the country.

ICEYE, a provider of satellite data and services to inform decision-making and analysis, has announced that its satellite data and imagery will be explored to provide the inputs to support the parametric insurance trigger for a recently announced UNDP backed project in Ghana.

With the world’s economies grappling with inflation, higher rates and a developing cost-of-living crisis, property insurance and as a result reinsurance claims are set to be one of the area’s of the market most affected, Swiss Re has said.

The environmental, social and governance (ESG) transparency initiative being undertaken by a leading group of Swiss-based insurance-linked securities (ILS) investment fund managers, has the potential to drive the desired change investors such as the Bank für Kirche und Caritas have been looking for, according to Tommy Piemonte.

Florida’s Citizens Property Insurance Corporation looks set to continue rapidly growing its exposure, with its policy count likely to near record levels again in 2023, according to President and CEO Barry Gilway.

In another sign of the still-challenging coastal and in particular Florida property insurance market, property and casualty (P&C) insurer United Insurance Holdings Corp. (UPC Insurance) has announced a strategic review of its options, including raising more capital.

The alternative capital markets, so insurance-linked securities (ILS) funds, ILS investors and other third-party capital sources, have played an important role at a mid-year reinsurance renewal that saw demand increase in a capacity constrained marketplace.

The French association of insurers has said that a series of storm systems that struck the country since late May have caused close to EUR 4 billion of insurance market losses, with nearly a million claims filed.