reinsurance

Despite having completed its reinsurance renewal early for its Centauri branded carrier subsidiaries, Applied Underwriters leadership have said that the general lack of catastrophe reinsurance is posing issues for Gulf state insurance carriers as hurricane season gets underway.

Rate increases secured by insurance-linked securities (ILS) funds and collateralized reinsurance vehicles at the mid-year reinsurance renewals are likely to be higher than had been expected when the negotiations began, sources have told Artemis.

Here are the ten most popular news articles, week ending June 26th 2022, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

US primary insurance giant State Farm has returned to the catastrophe bond market and secured $500 million of US property catastrophe reinsurance protection from two series of Merna Re II cat bond notes, with a $200 million Merna Re II Ltd. (Series 2022-2) and $300 million Merna Re II Ltd. (Series 2022-3) issuances.

Losses from the severe convective storm peril are already on-track to surpass $20 billion again in 2022, according to Aon’s Impact Forecasting.

Florida’s insurance marketplace has been plagued by extreme levels of fraud and litigation, which is driving the homeowner’s insurance market’s demise in the state, according to the Insurance Information Institute (Triple-I).

A spate of severe weather, thunderstorms, hail and other convective effects are set to drive insurance and reinsurance market losses of close to EUR 1.3 billion, according to the French insurers association.

Investment funds in the private capital markets sector increasingly need to be seen to be quickly moving towards, or having already implemented, a rigorous environmental, social and governance (ESG) policy, or they could risk falling outside of many institutional investor’s consideration.

Lockton Re, the reinsurance arm of the global broker, has announced the hiring of Kathy McCann from Guy Carpenter, a property reinsurance and retrocession specialist.

Speedwell Climate, a leading provider of weather, catastrophe and climate data, indices and settlement services, has teamed up with the European Power Exchange (EPEX SPOT) on the launch of a set of weather-based power indices to provide risk management and hedging opportunities to the renewables sector.