Financial

Insurance and reinsurance market losses from Australia’s series of summer catastrophe loss events have now risen to a new high of almost AU $5.1 billion, according to the Insurance Council of Australia. When we last covered these loss events, which range from severe convective weather related hail storms, to flooding and rain bearing storms, and…

A new insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy named Replexus Group has been launched by Cedric Edmonds, formerly at Swiss ILS manager Solidum Partners. Edmonds left Solidum in recent months, returning to the United Kingdom to launch a new venture. During his time at Solidum Partners, Edmonds had been responsible for…

Reinsurance sidecars as a source of protection are in high-demand right now, as ceding companies look to bring third-party capital support into their business models to help buffer against any potential downside caused by catastrophe losses through the year ahead. Our sources said that demand for reinsurance sidecar capacity is perhaps as high as it…

Weather hedging seems to have worked as intended for Star Group (formerly Star Gas Partners) in the first-quarter of 2020, as higher temperatures in the United States triggered a payout under the energy providers weather derivatives arrangements. Star Group has been using weather derivatives to hedge out the impacts of temperature variability on its bottom-line…