Insurance
Electric vehicle sharing programs: What to know before you ride
The proliferation of electric ride-sharing services throughout the U.S. is fueled by demand for affordable and green transportation options. Vehicles ranging from e-scooters, electric bicycles and mopeds are easily accessible via apps. But regulators have to balance the popularity of the sharing programs with public safety, as injuries and even a few fatalities have occurred.…
Read MoreInsurance Careers Corner: Q&A with Rahel Abraham, ClimaGuard
By Kris Maccini, Social Media Director, Triple-I Triple-I’s “Insurance Careers Corner” series was created to highlight trailblazers in the insurance industry and to spread awareness on the career opportunities within the industry. This month we interviewed Rahel Abraham, CEO of ClimaGuard, a Houston-based start-up that provides protective coverings for cars (and personal belongings) to prevent…
Read MoreLancashire Capital Management investors have “appetite to go forwards” – Redhead
Discussing the challenges faced in the insurance-linked securities (ILS) market as a result of the Covid-19 pandemic today, Darren Redhead, CEO of Lancashire Capital Management, explained how his unit is relatively insulated from issues related to redemption that some others in the ILS space have faced. Redhead leads the specialist third-party capital management and collateralised…
Read MoreTriple-I Chief Economist: P/C Industry Strong, Despite Surplus Drop
Despite its largest-ever quarterly decline in policyholder surplus, the property/casualty insurance industry remained profitable in the first quarter of 2020 and remains financially strong, according to a commentary by Triple-I’s senior vice president and chief economist, Dr. Steven Weisbart. Dr. Steven Weisbart Policyholder surplus – the amount insurers hold in reserve to ensure that they…
Read MoreSome ILS funds see adverse typhoon Hagibis development in June
A handful of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions have experienced some further adverse development related to 2019’s Japanese typhoon Hagibis in June, we understand. The adverse development has been sufficient to drive a few ILS fund positions negative for the month of June 2020, we’ve learned, as these positions were significant…
Read MoreUS thunderstorms dominate $27bn H1 insured disaster losses: Munich Re
Severe thunderstorms, or convective weather, in the United States has dominated insured natural disaster losses for the first-half of 2020, according to reinsurance firm Munich Re. The company said that severe thunderstorms, tornadoes, hail storms and flash floods, all parts of the convective weather bucket, saw 8 billion dollar insured loss events in the first-half…
Read MorePartnerRe takes P&C business interruption hit from Covid-19
Bermuda headquartered reinsurance firm PartnerRe has reported a loss for the second-quarter of 2020 in its non-life underwriting business, as the majority of a $320 million hit from the Covid-19 pandemic fell to that side, some of which was in P&C business interruption. Overall, PartnerRe reported $338 million of Covid-19 pandemic related impacts across its…
Read MoreAXIS’ third-party capital fees drop again, but cedes more risk to investors in Q2
Bermudian specialist insurance and reinsurance firm AXIS Capital has reported another year-on-year decline in the level of fee income earned through the use of third-party and insurance-linked securities (ILS) capital within its business for the second-quarter of 2020. In Q1 2020 AXIS Capital ceded 31% fewer premiums to its “other strategic capital partners” group, where…
Read MoreLancashire Capital Management fee income rises as strategy expands
Lancashire Capital Management Limited, the third-party capital collateralised reinsurance underwriting arm of specialty insurance and reinsurance group Lancashire Holdings, has delivered higher fee income to its parent in the first-half of 2020, as profits of the unit rise alongside its increased assets under management. Lancashire Capital Management grew roughly 20% over the course of 2019,…
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