Insurance
Munich Re calls for higher reinsurance renewal pricing, increased discipline
Munich Re is forecasting more hardening across the reinsurance market at the upcoming January reinsurance renewals, with the company saying this morning that there is a need to refocus on profitability. The company says that low interest rates are impacting reinsurance profits and at the same time the COVID-19 pandemic and lockdowns of economies are…
Read MoreInsured losses from April 2020 hailstorms in Queensland creep to A$604m
Hailstorms that struck the Central Queensland region of Australia on April 19th 2020 are now estimated to have cost the insurance and reinsurance industry A$604 million by PERILS. The insurance and reinsurance industry loss reporting agency had not given a loss estimate for this particular hailstorm event before, as initial discussions with the market suggested…
Read MoreHannover Re expects rising P&C reinsurance rates in Germany
Reinsurance giant Hannover Re’s German subsidiary E+S Rückversicherung AG is expecting rising prices and improving terms at the renewals of German reinsurance business, including in natural catastrophe risks. The company says that a global contraction in reinsurance capacity is making itself felt in Germany as well, so Hannover Re believes similar market forces will be…
Read MoreBest of Artemis, week ending 18th October 2020
Here are the ten most popular news articles, week ending 18th October 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. Register for our mid-November reinsurance &…
Read MoreHurricane Delta insured losses estimated at up to $3 billion
Flood waters from Hurricane Delta surround structures destroyed by Hurricane Laura on October 10, 2020 in Creole, Louisiana. Hurricane Delta made landfall near Creole as a Category 2 storm initially leaving some 300,000 customers without power. (Photo by Mario Tama/Getty Images) Hurricane Delta made landfall in Creole, Louisiana, on October 9 as a Category 2…
Read MoreFidelis may increase second Herbie Re cat bond to as much as $300m
The second catastrophe bond from specialty insurance and reinsurance company Fidelis Insurance Holdings Limited may increase in size before close, as its target for the Herbie Re Ltd. (Series 2020-2) issuance has risen to as much as $300 million. Fidelis returned to the catastrophe bond market earlier this month for its second transaction, looking to…
Read MoreCincinnati Financial recovers for Derecho, Kemper hits aggregate retention
U.S. property and casualty insurers continue to benefit from support from their reinsurance programs for paying losses for catastrophe events that struck during the third-quarter. As we have explained, third-quarter 2020 catastrophe losses look set to come in above expectations and in many cases budgets. While this elevates the chance of reinsurance recoveries being seen,…
Read MoreThe Future of American Insurance and Reinsurance Releases a Digital Business Interruption Insurance Explainer
Future of American Insurance and Reinsurance (FAIR) has released a new interactive tool to help showcase the need for a federal solution to pandemic relief. The Business Interruption Insurance “explainer” utilizes digital storytelling techniques to help clarify information about this complex topic. The digital explainer complements the FAIR campaign’s other recently-released digital assets, including a video…
Read MoreKeeping Halloween Safe, Even During a Pandemic
Dan and Ben, ready for a safety-conscious Halloween last year. My five-year-old nephew, Ben, is a great source of pride to his electrician father, Dan. Last Halloween, Ben refused to trick-or-treat at a particular house because he noticed that the decorations there were a fire hazard. Halloween is supposed to be fun, but it has…
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