Insurance

Equity analysts at investment bank Credit Suisse said yesterday that they are anticipating the U.S. catastrophe loss burden for the insurance and reinsurance industry in the second-quarter of 2020 will be around 25% above the 10-year average. Part of the driver for the elevated catastrophe loss load is the recent civil unrest in the United…

As expected, U.S. focused mortgage insurer Essent Guaranty has reported that all of its mortgage insurance-linked securities (ILS) transactions outstanding are now subject to a trigger event, after the Covid-19 pandemic drove delinquency rates much higher. Essent Guaranty follows three other mortgage insurers that have reported a triggering of their mortgage insurance-linked notes arrangements. As…

Hurricane forecasts for the 2020 Atlantic tropical storm season have been elevated again to reflect the rapid start to the year in terms of storms already formed, while in addition there remains an above-normal landfall probability for the months ahead, forecasters note. Both Colorado State University and Tropical Storm Risk have released their latest forecast…

QOMPLX, an insurtech provider of intelligent decision platforms and operator of managing general agency’s (MGA), has launched US-based subsidiary MGA units named RubiQon Risk & Insurance Services and RubiQon Re, which will be led by sector veterans Conan Ward and Romel Salam. Ward and Salam both worked together at reinsurance firm Validus Re in the…

Private equity and buyout giant KKR & Co. L.P. (or Kohlberg Kravis Roberts) has again demonstrated its appetite for insurance-linked returns by announcing it is to acquire life and retirement focused insurance and reinsurance firm Global Atlantic Financial Group. KKR, as one of the largest private equity and buyout specialists, has long had a liking…

We understand that Head of Transaction Management Jutta Kath is to retire early from her position at Schroder Secquaero, the specialist insurance-linked securities (ILS) manager and part of global asset manager Schroders. The departure comes in the midst of preparations for a switch in senior management at the company, as current Deputy Head of Schroder…

While commercial and personal property insurance rates rose broadly in the second-quarter of 2020, it is the catastrophe exposed regions and segments of the business that are rising fastest, according to MarketScout. There remains a capacity related trend to some of the price rises, as insurers continue to pull-back or restrict capacity in certain of…

At the July 1st reinsurance renewals rates were seen to improve by as much as 20% according to Hyperion X, a little behind the average 26.2% rate improvements seen by the company at the June 1st renewals. Data from Hyperion X Analytics, a data analytics focused unit of the global Hyperion Insurance Group holding company…

The Caribbean Development Bank (CDB) and Government of Canada have partnered to fund the CCRIF parametric insurance premiums of nine Caribbean countries, enabling them to continue with coverage despite the fiscal impacts from the Covid-19 pandemic. Canada is financing a new CAD$20 million fund to support the premium needs of the countries, the Canada-CARICOM Climate…