Insurance

The ongoing wildfires across California, Oregon and other western parts of the United States may put investor focus back onto aggregate catastrophe bonds, according to specialist insurance-linked securities (ILS) fund manager Plenum Investments. A number of aggregate catastrophe bonds were impacted after losses from the 2018 wildfires in California drove cedants accumulated qualifying losses above…

Christian Mumenthaler, Chief Executive Officer of the world’s largest reinsurance company Swiss Re, joined us this month, to discuss how his company has fared since the pandemic, the state of the market and what his outlook and priorities are for 2021. Mumenthaler discussed a wide range of topics, from the current status of Swiss Re…

The Asian Development Bank (ADB) has launched its first pilot disaster insurance scheme in the Philippines and has also approved a $500 million loan for the country that is contingent on a natural disaster or public health emergency occurring. The contingent loan facility is similar to the World Bank catastrophe deferred drawdown options (CAT-DDO’s) that…

German reinsurance company Hannover Re is forecasting significant rate increases across property and casualty reinsurance and the expectation of “new record highs” in insurance-linked securities (ILS) over the medium term. Hannover Re gave its view on the market this morning, in place of the cancelled Monte Carlo Rendez-vous. The reinsurance company is expecting broad rate…

French reinsurance group SCOR is not expecting any issues in placing its retrocession program this year and is already in active discussions with its lead markets as it continues to work towards an optimal placement, its senior executives said today. Speaking during a virtual media briefing today, held in place of the cancelled Monte Carlo…

Positive rate momentum and the re-examining of terms and conditions (T&Cs) is expected to continue at the key January 2021 reinsurance renewals and beyond, while ongoing uncertainty surrounding another year of trapped capital will have an influence, according to industry experts. Artemis, in collaboration with sister publication Reinsurance News and in association with our partners…

Severe storms, convective weather and large hail across the eastern two-thirds of the United States from August 8th to 12th, including the Derecho that struck the Iowa and Illinois region, is estimated to have cost around $6.5 billion, with more than half of the total likely covered by insurance. The Derecho event swept through Iowa…

Bermuda faces its first significant hurricane threat in the shape of intensifying storm Paulette which is expected to become hurricane Paulette within hours and is forecast to track very close to Bermuda early next week. Based on the latest forecasts Bermuda is expected to see hurricane force winds as hurricane Paulette passes nearby, but a…