Insurance
ILS capital influx beginning, expected to persist: Swiss Re’s Rüede
Global reinsurer Swiss Re, which has been expanding its alternative reinsurance capital strategies in recent years, is seeing the “beginning of an influx” of capital into insurance-linked securities (ILS), something it believes will continued, Philipp Rüede, Head of the firms Alternative Capital Partners unit told us. Rüede was speaking to us in a recent interview…
Read More$10m U.S. wind industry loss transaction issued on Tullett Prebon ILN platform
Tullett Prebon has successfully completed another issuance through its Insurance Linked Notes (ILN) platform, with a $10 million U.S. wind industry loss instrument arranged, securitised and issued to investors. Electronic and voice interdealer broker and part of the TP ICAP group Tullett Prebon revealed a trading and issuance platform for what it terms Insurance Linked…
Read MoreCCRIF makes $7.45m payout to Haiti for hurricane Laura
Hurricane Laura’s passage has triggered parametric insurance coverage for Haiti, with the country receiving $7.45 million from the CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility). Haiti received $7.2 million as the hurricane’s rains triggered its parametric excess rainfall policy that it has in place with the CCRIF. In addition, Haiti also…
Read MoreLloyd’s expects to pay $6.5bn of COVID-19 claims
Lloyd’s of London expects that it and its members will pay around $6.5 billion of gross claims from the COVID-19 pandemic, with around 40% of the total expected to be covered by reinsurance. Lloyd’s had previously forecast that it expected its own portion of the non-life insurance market claims is expected to be from $3…
Read MorePoll: Government should provide business interruption support
Getty Images Business interruption losses from a global pandemic are uninsurable due to their sheer scope. Business interruption losses (in the U.S. alone) from the coronavirus are estimated at $220-$383 billion per month — an amount the industry could not and should not be expected to cover. Americans across the country appear to recognize that…
Read MoreTriple-I Global Outlook: Continued Pressure on Investments & Premiums
The COVID-19 pandemic continues to depress economic growth around the world, with nearly every country experiencing declines in gross domestic product (GDP) – the total value of goods and services produced. GDP growth for the world’s 10 largest insurance markets is expected to decrease by 6.99 percent in 2020, compared to Triple-I’s previous estimate of a 4.9…
Read MoreP&C reinsurance buyers expect to pay at least 5% more at 2021 renewals
According to a survey of property and casualty reinsurance buyers undertaken by rating agency Moody’s Investors Service, the consensus is that pricing will rise by at least 5% at the 2021 renewals, making their coverage more expensive. “P&C reinsurance buyers expect reinsurance prices to rise by at least 5 percent next year as the fallout…
Read MoreILS capital could return to growth with second-half inflows: Schultz, Aon Securities
The insurance-linked securities (ILS) market may return to growth in terms of capital through the rest of 2020, thanks to new inflows being seen and expected, according to Paul Schultz, CEO of Aon Securities. Speaking today during the Aon Reinsurance Solutions virtual media briefing, a replacement for its annual event at the Monte Carlo Reinsurance…
Read MoreTremor takes reinsurance auctions completed to 15, raises $4m in funding
Tremor Technologies Inc., the technology-based programmatic risk transfer marketplace provider, has now completed an impressive 15 reinsurance auctions since its launch and has recently raised an additional $4 million in venture funding to facilitate further growth. In the most recent auction, working alongside reinsurance broker Willis Re, Tremor completed a programmatic placement of a workers’…
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