Insurance
FedNat reports $48.3m Q2 cat losses after reinsurance recoveries
U.S. primary insurance carrier group FedNat Holding Company has reported elevated catastrophe losses from second-quarter severe weather events, which it expects to cost it $48.3 million pre-tax and after reinsurance recoveries made. FedNat’s pre-results announcement that Q2 2020 severe weather losses would be elevated comes on the heels of numerous other carriers all hit by…
Read MoreHard market “has legs”, capital constrained & trapping to come: Barclays analysts
The current hard market phase in insurance and reinsurance “has legs” as the levels of capital remain constrained in both traditional and alternative capital markets, analysts at Barclays have said. Market volatility due to the Covid-19 pandemic, as well as the losses it has and is causing, are both adding to a “multi-year squeeze on…
Read MoreCatastrophe bond & ILS issuance hits $9.6bn as spreads accelerate
Issuance of new catastrophe bonds continued apace through early July, helping total cat bond and related ILS issuance reach $9.6 billion as of this time, according to Artemis’ Deal Directory data. While the demand from investors for higher-returns is increasingly evident, as both spreads and multiples-at-market accelerated over recent weeks. Investor returns from the catastrophe…
Read MoreGuy Carpenter announces UK property facultative hires from rivals
Reinsurance broker Guy Carpenter has made a string of appointments in its UK focused property facultative broking team, with a number of key hires poached from its rivals. The hires form part of a wider realignment process at Guy Carpenter’s facultative broking arm GC Fac, the company said this morning, as it structures its product…
Read MoreBest of Artemis, week ending 19th July 2020
Here are the ten most popular news articles, week ending 19th July 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. Ten most read articles on Artemis.bm,…
Read MoreLightning Rounds: Investing in disaster and risk management technology
The Insurance Information Institute (Triple-I) yesterday hosted a webinar showcasing technology companies whose products mitigate the impact of severe weather on homeowners, businesses and communities. This is the first in a series of Lightning Rounds – fast-paced pitch panels for insurance and non-insurance investors. The webinar is part of the Resilient Accelerator initiative, a collaboration of Triple-I,…
Read MoreLessons learnt in ILS after challenging few years, say end-investors
For many in the insurance-linked securities (ILS) space the experience of losses, creep, and uncertainty around trapped collateral over the past few years was a first, and, undoubtedly, lessons have been learnt. This was the view of the opening panel on the penultimate day of our virtually held conference, ILS Asia 2020 (now available on…
Read MoreWrap-up: COVID-19 and Workers Comp
Lauded for their service and hailed as heroes, essential workers who become infected with the coronavirus on the job have no guarantee in most states that they’ll qualify for workers compensation to cover lost wages and medical care, Associated Press reports. Fewer than one-third of the states have enacted policies that shift the burden of proof for coverage of…
Read MoreCat bonds a bright spot, as collateralised reinsurance trapped again: Aon
Catastrophe bond issuance in the first-half of 2020 has been one of the bright spots in the insurance-linked securities (ILS) and alternative reinsurance capital market, as issuance was buoyed by the assets robust performance through the Covid-19 pandemic. In discussing the dynamics around alternative capital, insurance and reinsurance broker Aon said that investors in ILS…
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