Insurance
Delta losses to fall largely to insurers, some reinsurance impact possible
Hurricane Delta made landfall in the region of Creole, Louisiana on Friday at 18:00 local time, at Category 2 hurricane strength with sustained winds of 100 mph and impacted a region already badly affected by hurricane Laura at the end of August. Image source: The Advocate. Photo by: Bill Feig/AP Having impacted Mexico’s Yucatan Peninsula…
Read MoreBest of Artemis, week ending 11th October 2020
Here are the ten most popular news articles, week ending 11th 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 MoreDrop, Cover, and Hold On – Great Shakeout Earthquake Drills Take Place on October 15
About half of all Americans are at risk of ground shaking from earthquakes. That’s why practicing what to do in the event of a quake is so important and why over 11 million people worldwide (and counting) are participating in this year’s Great ShakeOut earthquake safety drill on October 15. The Great ShakeOut Earthquake Drills…
Read MoreHurricane Delta Surges Closer to Gulf Coast
Hurricane Delta is surging closer to the U.S. Gulf Coast and is expected to land on the evening of October 9 somewhere on Louisiana’s southwest coast. Questions still remain whether it will maintain Category 3 hurricane strength or become a Category 2 storm. Dr. Phil Klotzbach, CSU research scientist and Triple-I non-resident scholar gives an…
Read MoreTort Reform Group Promotes “Lawsuit Abuse Awareness”
While ridiculous sounding lawsuits are common in our litigious society, some stand out because they sound so preposterous they could have been the plot of a “Seinfeld” episode. For example, in 2019 an infamous Long Island attorney nicknamed the “Vanilla Vigilante,” sued Whole Foods for $5 million, claiming the store’s vanilla soy milk is flavored…
Read MoreEssent Guaranty completes $399.2m Radnor Re 2020-2 mortgage ILS
Essent Guaranty has returned to the capital markets in recent weeks with a successful new issuance of mortgage insurance-linked notes, as a Radnor Re 2020-2 Ltd. transaction helped it add $399.2 million of excess of loss mortgage reinsurance backed by capital market investors. This Radnor Re 2020-2 issuance of mortgage insurance-linked securities (ILS) is Essent…
Read MoreArch Capital to acquire Watford Re after increasing offer
Arch Capital Group Ltd. said today that it has reached an agreement with Watford Holdings Ltd., the holding company of total-return reinsurance company Watford Re to acquire the company for $31.10 per share, that values it at roughly $622 million. Arch had previously been reported to have offered $26.00 per share to buy-out the rest…
Read MoreStorm Alex could be costliest European catastrophe of 2020: Aon
Wind related impacts and severe flooding and landslides from recent windstorm Alex that struck France and Italy are expected to drive billions in economic costs and hundreds of millions of losses to the insurance industry, according to Aon. The insurance and reinsurance broker’s Impact Forecasting unit highlighted storm Alex in its latest weekly catastrophe report,…
Read MoreCEA’s new Ursa Re II catastrophe bond triples in size to $775m
The California Earthquake Authority (CEA) has elected to significantly upsize its latest catastrophe bond issue we can report, with its new Ursa Re II Ltd. (Series 2020-1) transaction now priced at $775 million in size, more than three times the initial amount of notes offered to investors. The CEA returned to the catastrophe bond market…
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