Insurance
AIR updates U.S. hurricane & inland flood catastrophe models
Catastrophe risk modelling specialist AIR Worldwide announced this week some timely updates to its Hurricane and Inland Flood Models for the United States. With hurricane season now underway and all forecasts pointing to an active year for tropical storms near the U.S., AIR’s risk model updates come at just the right time for the reinsurance…
Read MoreHowden appoints Rugge-Price as Chair, aims to challenge major brokers
Howden Broking Group, which is in the process of bringing together the retail focused Howden with the more specialty insurance and reinsurance focused RKH under one brand, has named a new Chair as it looks to position itself as a challenger to the majors. Both sit under the global Hyperion Insurance Group, that is parent…
Read MoreMost significant Jan 1 renewal rate increases since 2018 expected
It’s perhaps not the level of reinsurance rate increase that many have been hoping for, after the 20%+ rises seen across April and mid-year renewal cycles, but analysts at Morgan Stanley are bullish that January 2021 will see the highest increases since 2018. Morgan Stanley’s equity analyst team that tracks the insurance and reinsurance industry…
Read MoreCatastrophe PML trends: Divergent risk appetites & third-party capital use
It’s clear that strategies on underwriting catastrophe risks have diverged in the reinsurance sector, with some traditional companies filling their boots on higher rates, but others pulling back and offloading the risks to their third-party capital vehicles. Overall, reinsurance firms are seen to be taking a measured approach to catastrophe risks in 2020, rating agency…
Read MoreTriple-I: Insurers Poised to Withstand Challenging Economic Times
The economic uncertainty brought about by COVID-19 has impacted the U.S. insurance industry’s investment portfolios this year yet insurers cumulatively entered 2020 in a strong financial condition, according to a just-released Insurance Information Institute (Triple-I) Economic Snapshot report. “The good news is the industry is well positioned to provide the safety net we need,” said…
Read MoreWhat are signs of Storm Damage
Knowing the signs of storm damage to your home can help you know what type of claim to file for reimbursement of the cost to cure your home’s damage.
Read MoreU.S. riot losses accelerated & worsened by pandemic: Johansmeyer at ILS Asia 2020
In an extensive and insightful keynote at the virtually held Artemis ILS Asia 2020 conference (now available on-demand), Head of PCS, Tom Johansmeyer discussed a number of Covid-19 loss scenarios, including the potential combined impacts of the virus and strike riot, civil commotion (SRCC) in the U.S. Triggered by the killing of unarmed George Floyd…
Read MoreAllstate’s Q2 catastrophe losses rise to almost $1.2bn
Aggregate catastrophe losses suffered by U.S. primary insurance giant Allstate have risen to almost $1.2 billion for the second-quarter of 2020, with the pace of severe weather losses falling slightly in June. By the end of May, Allstate had already suffered $982 million, pre-tax ($776 million, after-tax) of catastrophe losses, largely from severe or convective…
Read MorePGGM and Swiss Re deepen Viaduct Re sidecar relationship to $500m+
PGGM, the Dutch pension fund administrator and investment manager that has become the largest single source of assets in the insurance-linked securities (ILS) market, has expanded and deepened its private quota share sidecar relationship with reinsurance firm Swiss Re. In total, the Viaduct Re Ltd. private reinsurance sidecar arrangements between PGGM and Swiss Re have…
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