Insurance

Global insured losses from catastrophe events and severe weather have already reached $54 billion in 2020 and the effects of the COVID-19 pandemic are evident in prolonged loss development, according to insurance and reinsurance broker Aon. Insured catastrophe losses are still behind the $75 billion Aon counted for 2019, but with over three months left…

The fact that it is primarily private equity capital looking to replenish the reinsurance industry’s coffers is unlikely to dampen the effects of rate hardening in the near term, according to Luca Albertini, chief executive of Leadenhall Capital Partners LLP. Speaking to Artemis during what would normally be the Rendez-Vous de Septembre in Monte Carlo…

The insurance-linked securities (ILS) investing business of hedge fund manager Quantedge Capital has signed-up to use Foundation, the ILS and reinsurance deal pricing and roll-up platform developed by Treefrog. Treefrog launched the Foundation software platform earlier this year, aiming to deliver users a powerful pricing, risk and portfolio management solution for ILS and reinsurance transactions.…

Tremor Technologies, the insurtech offering a technology-based programmatic insurance and reinsurance risk transfer marketplace, experienced higher activity in its live cat ILW marketplace yesterday for hurricane Sally, than it did a few weeks ago for Laura. The company launched a live cat industry loss warranty (ILW) marketplace for hurricane Sally yesterday, offering three auctions at…

Insurance giant American International Group, Inc. (AIG) has “high hopes” for further growth of its insurance-linked securities (ILS) and collateralised reinsurance manager AlphaCat, expecting to see “a lot of demand” for its vehicles at the renewals, Peter Zaffino said this week. Speaking at the Barclays Global Financial Services Conference on Monday, Peter Zaffino, the President…

The amount of alternative and insurance-linked securities (ILS) capital in the global reinsurance market remained flat through the second-quarter of 2020 at $91 billion, according to the latest data from broker Aon. Overall, global reinsurance capital increased through the second-quarter of 2020, as traditional reinsurer capital levels recovered from the hit to their assets caused…

Following yesterday’s judgement by the UK High Court that found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, Australian insurer QBE has said it could recover up to US $100 million of UK BI claims from its catastrophe reinsurance. The judgement came through yesterday and while…

Hurricane Sally made a last attempt to strengthen as it wobbled slowly towards the north Gulf Coast and has now intensified into a Category 2 storm, with sustained winds reaching 105 mph and higher gusts being reported. It changes the outlook a little for the insurance, reinsurance and insurance-linked securities (ILS) sector, from the lower…