New Reinsurance Company Ltd. (NewRe), a wholly owned subsidiary of global reinsurance firm Munich Re, has named an internal candidate as its new Chief Executive Officer, with Thomas Braune taking the role. Braune has worked at Munich Re since 1992 and is a seasoned reinsurance market expert. His most recent position at Munich Re was…

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The African Risk Capacity (ARC), which has so far provided parametric disaster insurance products to countries in Africa, is set to expand its client base to include non-sovereign actors, as it looks to grow and diversify its portfolio of risks. The African Risk Capacity (ARC) has only provided risk transfer and parametric insurance to government’s…

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The opportunity to takeout insurance policies from Florida’s Citizens Property Insurance Corporation may return once again, as the insurers portfolio is expanding faster than it expected and it feels some of the book may be attractive. Florida Citizens had previously said that the state of the Florida insurance market would drive its portfolio up by…

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Reinsurance broker Guy Carpenter has announced a key hire to its Property Catastrophe team, taking Paul Miller from rival Aon to lead property cat broking for UK, Global Specialties and key global clients. Paul Miller was most recently Head of International Catastrophe Management at Aon’s Reinsurance Solutions division. He will lead Guy Carpenter’s Property Catastrophe…

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Getty Images Many people are wondering if disability insurance will cover them if they come down with COVID-19. The answer, as is often the case, is a qualified yes. There are basically three types of disability income insurance: Employer-paid disability insurance, Social Security disability benefits and individual disability income insurance policies. Short-term disability insurance may…

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The California Earthquake Authority (CEA) is back once again in the catastrophe bond market with the second issuance it has sponsored so far this year, seeking a $250 million or larger source of collateralised earthquake reinsurance from this Ursa Re II Ltd. (Series 2020-1) deal. Earlier this year, the CEA, which is a not-for-profit residential…

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Welcome to the Artemis ILS Asia 2020 conference report, which explores some of the discussions that took place during our fifth event focused on the region. Unable to travel to Singapore owing to the impacts of the Covid-19 pandemic, ILS Asia 2020 was our first virtually held conference. Spread over five days in mid-July, the…

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The Asia-Pacific Economic Cooperation (APEC) continues to see the development of a regional catastrophe bond market as positive, highlighting at a recent workshop that cat bonds are a win-win relationship for governments and investors. The workshop last week was convened by The World Bank Treasury alongside the APEC Business Advisory Council (ABAC) and Asia-Pacific Financial…

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Wildfires in California have once again flared up and begun to expand, as critical fire weather conditions set in over the weekend resulting in evacuation orders and warnings. The 2020 wildfire season in California is now the largest on record, with 7,928 fire incidents having already burned some 3.63 million acres  in the state. Wildfires…

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