Investments

Global action to combat climate change is essential to avoid the exposure becoming systemic in nature, which might cause it to become less insurable, according to Munich Re’s CEO of Reinsurance, Torsten Jeworrek. Speaking during a media briefing held as a virtual replacement for the Monte Carlo Rendez-Vous event, which was cancelled for 2020 due…

The global pandemic is accelerating the hard reinsurance market, according to Jean-Paul Conoscente, chief executive officer of SCOR Global P&C. Speaking to Artemis ahead of the virtual Monte Carlo renewal discussions, he said that trends which had begun in 2019 were being further fuelled by the expected claims impact of COVID-19. “Collateral will be trapped…

Global reinsurance giant Swiss Re is forecasting more rate hardening across all lines of business at the upcoming renewal season, while also expecting positive market growth at the same time with increasing demand. At the same time, the reinsurer explained this morning that it expects there to be increased pressure on the underwriting side of…

AXA Climate, the parametric specialist risk transfer unit of global insurance and reinsurance company AXA, has partnered with SatSure AG, a provider of decision intelligence solutions using satellite data, to roll-out parametric risk transfer solutions around the globe. AXA Climate will underwrite the parametric risks, presumably on an insurance and reinsurance or derivative and swap…

The much-discussed “flight to quality” of insurance-linked securities (ILS) investors is benefiting Munich Re through the support shown to its retrocession program, the company said today. In a media presentation given today as a virtual replacement for its annual event at the cancelled for 2020 Monte Carlo Rendez-Vous, the global reinsurance company explained how market…

Global reinsurance firm Munich Re said today that it expects a low triple-digit million Euro loss for both recent Atlantic hurricane season impacts and the Beirut port explosion. Speaking at a virtual media briefing in place of the Monte Carlo Rendez-Vous event the company would have held, Torsten Jeworrek, CEO of Reinsurance for Munich Re,…

Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, aims to attract increased levels of third-party investor capital to its Aspen Capital Markets unit, through the introduction of “new and innovative” structures. The company announced its half-year results on Friday, revealing that the COVID-19 pandemic drove it to an after tax operating loss…

McGill & Partners, the boutique risk solutions firm launched by former Aon President Steve McGill, has announced the hiring of Angus Milgate as Head of Treaty Reinsurance, as well as a raft of hires expanding that team to 34 members. Angus Milgate was most recently Head of UK and Ireland for Aon’s Reinsurance division. He…

Ledger Investing, an insurance technology (insurtech) and insurance-linked securities (ILS) venture-backed start-up, has made a key hire in taking AIG’s Chief Risk Officer for North America General Insurance, Brad Fischtrom as its new Chief Operating Officer (COO). Ledger Investing launched in 2016 with a goal to create a business-to-business marketplace for the securitisation of insurance…