Investments
Berkshire’s increased property reinsurance appetite evident in results
Warren Buffett’s Berkshire Hathaway made its resurgent appetite for property and casualty reinsurance underwriting evident in the second-quarter, as the companies reinsurance unit underwrote 29% more in gross premiums than the prior year. Berkshire Hathaway’s P&C reinsurance premiums written increased by $668 million (29%) in the second-quarter of 2020 and $1.2 billion (20%) for the…
Read MoreHurricane Isaias insured losses estimated at $4.2bn by KCC
Hurricane Isaias may have caused the insurance and reinsurance industry a loss of as much as $4.2 billion, according to analysis from catastrophe risk modeller Karen Clark & Company (KCC) It’s the first full estimate of insurance and reinsurance market losses and a fair bit higher than where any of our market sources had been…
Read MoreBeirut hull, cargo & port facility losses “within $250m” – Guy Carpenter
Reinsurance broker Guy Carpenter has put out an early estimate for insurance and reinsurance market losses related to hull and cargo lines, as well as port facility damage, related to last week’s devastating explosion in the port area of Beirut, Lebanon. Source: AP Photo/Hussein Malla The explosion destroyed much of the area around the port…
Read MoreCommercial property insurance rates up 19% in Q2 2020. Covid-19 a driver
Commercial property insurance pricing around the globe saw further increases in the second-quarter of 2020, with rates rising 19% for the period, driven by Covid-19 and other large losses in the period, according to Marsh. Broker Marsh’s latest commercial insurance market survey found that, on average, rates have risen by a record amount in Q2,…
Read MoreAXIS didn’t renew 2017 cat bond, bought reinsurance lower-down instead
AXIS Capital, the Bermuda headquartered specialty insurance and reinsurance player, elected to let one of its catastrophe bonds expire without renewal this year, as it shifted its focus to buying more reinsurance lower-down in the tower to reduce its PML’s. AXIS Capital had three catastrophe bonds from its Northshore Re series of transactions still in-force…
Read MoreBrazil seeks feedback on ILS regulatory framework proposal
The South American nation of Brazil is the latest to target the creation of a framework for legislation and a regulatory regime to allow for the issuance of insurance-linked securities (ILS) in the country, as it looks to ILS as a possible avenue to help its growing re/insurance industry further expand. A consultation process is…
Read MoreBest of Artemis, week ending 9th August 2020
Here are the ten most popular news articles, week ending 9th August 2020, 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. Watch all of our recent virtual…
Read MoreSystem error blocked coronavirus stimulus checks from being sent to 26 states
Discussions are still ongoing to finalize the next coronavirus package. If things go as per the expectations, we could have a stimulus deal next week and the IRS would start sending out the checks. Many, however, are still waiting for their first coronavirus stimulus checks, including those who didn’t get the payment due to an […]
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Read MoreDividend Income Summary: Lanny’s July 2020 Summary
The fear of the coronavirus still spreads. Unemployment claims still in the millions. No deal is reached on the economic stimulus package, the HEALS Act, but yet the S&P 500 was up 5.5% in July. What a confusing and volatile stock market. However, dividend income continues to fuel the mission to financial freedom. In July,…
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