Investments

It’s down to insurance-linked securities (ILS) cedents and sponsors to work to restore trust in the ILS investor community, by increasing transparency, reducing uncertainty and building long term partnerships, according to Mathieu Halm, Head of Retrocession and Strategy at CCR Re. Halm recently discussed the challenging year that the insurance-linked securities (ILS) market has faced,…

For primary insurance carriers, having a dependency on reinsurance during challenging years characterised by catastrophe and severe weather losses, is not necessarily negative, as it can be a critical in enabling prompt claims payment, rating agency Demotech has said. Having an appropriate level of reinsurance protection in place should not be viewed negatively, as it…

As the world continues to deal with the effects of the COVID-19 pandemic, we remain locked-down at home and unable to hold in-person events, so sadly our fifth ILS NYC conference has to be virtually held. We’re still going to bring you the kind of forward-looking, constructive discussions we know our audience enjoy, with a…

Central Asian countries will benefit from a better understanding of their natural disaster risks, which in time could lead to greater use of risk transfer, insurance and reinsurance capacity in the region, as the World Bank supports a multi-peril risk assessment project for the region. One of the first steps in moving towards sovereign disaster…

California electrical utility Southern California Edison has agreed a $2.2 billion payout to settle all insurance subrogation claims from pending litigation related to the 2018 Woolsey Fire and expects to exhaust its remaining $700 million of wildfire coverage as a result. As we explained previously, following Pacific Gas and Electricity’s (PG&E) massive $11 billion settlement…

Heritage Insurance Holdings, Inc., the Florida headquartered and nationally expansive U.S. property casualty insurer, has pre-announced an expectation that it will report $41.5 million of catastrophe and severe weather losses for the fourth-quarter of 2020. At $28.6 million net of reinsurance and the like, the current year catastrophe losses that Heritage has pre-announced are higher…

Global insurance and reinsurance group Everest Re has pre-announced a range of charges being applied to its fourth-quarter and 2020 results, due to catastrophe losses, continued impacts from the COVID-19 pandemic and a $400 million reserve charge driven by social inflation trends in casualty lines. The company still says that it expects to report full…