Insurance

The African Risk Capacity (ARC) Group, a parametric sovereign disaster risk insurer for African nations, has elected a new Director-General (DG), with Ibrahima Cheikh Diong unanimously voted into the position. Diong is an African statesman from the Republic of Senegal and a Civil Engineer by profession. Diong will work alongside Lesley Ndlovu, the CEO of…

California’s wildfires have continued to destroy properties over the weekend and while the main blazes are more under control thanks to cooler weather, the costs to insurance and potentially reinsurance markets are on the rise. In our coverage last week we explained that an estimate from Moody’s Investors Service suggested insurance and perhaps reinsurance market…

Hurricane Laura related industry loss estimates are coming thick and fast today, with catastrophe risk modellers Karen Clark & Company saying to expect a total of close to $9 billion, while AIR Worldwide has said up to $8 billion for onshore property losses only. As ever, it’s a challenge to compare insurance and reinsurance industry…

The insurance and potentially reinsurance market loss from flooding that struck the United Kingdom this February is now estimated to have caused an industry loss of UK £375 million, up 26% from an estimate made in April. Detailed claims data collected from insurers shows that the toll to the industry from severe flooding that struck…

Typhoon Maysak is strengthening as it heads towards the Japanese Ryukyu Islands, after which it is expected to continue north towards the Busan region of South Korea, with the latest forecasts suggesting sustained winds of as much as 115 mph could be experienced at landfall. It’s the second major typhoon threat for the Korean peninsula…

Here are the ten most popular news articles, week ending 30th August 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. Last chance to register for our…

According to industry sources, catastrophe risk modeller AIR Worldwide’s preliminary estimate of insurance and reinsurance market losses from hurricane Laura was pegged in a range from $4.8 billion to as high as $9.2 billion. We understand this is not an official industry loss estimate from AIR, that should be expected in the coming days we…

Of the insurance-linked securities (ILS) related contracts and structures that are most at-risk of having collateral pre-emptively or otherwise trapped at year-end, rating agency A.M. Best believes all perils or non-U.S. property reinsurance or retro contracts and quota share sidecars are the most exposed to this. In a recent report, A.M. Best explained how the…

Hurricane Laura’s impacts wind and storm surge impacts in Texas and Louisiana are estimated to have caused insured losses of between $8 billion and $12 billion, according to CoreLogic. The majority of that is expected to be from wind damage, as would be expected for the private insurance and reinsurance market, as the NFIP should…