Insurance
Commercial property insurance rates up 19% in Q2 2020. Covid-19 a driver
Commercial property insurance pricing around the globe saw further increases in the second-quarter of 2020, with rates rising 19% for the period, driven by Covid-19 and other large losses in the period, according to Marsh. Broker Marsh’s latest commercial insurance market survey found that, on average, rates have risen by a record amount in Q2,…
Read MoreAXIS didn’t renew 2017 cat bond, bought reinsurance lower-down instead
AXIS Capital, the Bermuda headquartered specialty insurance and reinsurance player, elected to let one of its catastrophe bonds expire without renewal this year, as it shifted its focus to buying more reinsurance lower-down in the tower to reduce its PML’s. AXIS Capital had three catastrophe bonds from its Northshore Re series of transactions still in-force…
Read MoreBrazil seeks feedback on ILS regulatory framework proposal
The South American nation of Brazil is the latest to target the creation of a framework for legislation and a regulatory regime to allow for the issuance of insurance-linked securities (ILS) in the country, as it looks to ILS as a possible avenue to help its growing re/insurance industry further expand. A consultation process is…
Read MoreBest of Artemis, week ending 9th August 2020
Here are the ten most popular news articles, week ending 9th 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. Watch all of our recent virtual…
Read MoreLegislatures AdvanceCOVID-19-related Bills
As states struggle to identify the best ways to reopen their economies, agencies, and schools from the coronavirus-related lockdown, legislatures have been moving forward legislation to protect them and the people they employ. Virginia Approves Worker Health & Safety Standard The Virginia Occupational Safety and Health (VOSH) – the state’s version of the federal Occupational…
Read MoreIntegral ILS registers Bermuda SPI named Integral Reinsurance Ltd.
Integral ILS Ltd., the start-up Bermuda based insurance-linked securities fund manager run by well-known industry execs Richard Lowther and Lixin Zeng, has registered its special purpose insurer (SPI) underwriting vehicle. Integral ILS Ltd. continues to ramp up its development, targeting being ready to deploy capital by January 2021. The start-up ILS fund manager has backing…
Read MoreSecond Covid-19 wave likely a second loss under reinsurance: Allianz CFO
The subject of how a second wave of the Covid-19 pandemic would be treated under reinsurance contracts came up during insurance giant Allianz’s earnings call this week and the companies CFO said that he’d expect it to be classed as a second loss event. Defining the pandemic in terms of specific loss events is going…
Read MoreRKH adds APAC reinsurance hires, makes Warwick Head of Treaty APAC
RKH Reinsurance Brokers (RKHRB), part of the global Hyperion Insurance Group and the dedicated reinsurance arm of RKH Specialty, has named Steve Warwick as its new Head of Treaty Reinsurance APAC and added two more significant hires, also from RFIB, as it looks to expand in the Asia Pacific region. Warwick will take on responsibility…
Read MoreEverest Re adds to Mt.Logan Re AuM in Q2 2020
Everest Re, the global insurance and reinsurance firm, managed to add some assets under management to its Mt. Logan Re Ltd. collateralised reinsurance sidecar-like vehicle during the second-quarter of 2020, executives explained yesterday. Mt. Logan Re had sat at around $818 million in terms of assets under management (AuM) at January 1st and this shrank…
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