Insurance
National Insurance Awareness Day
June 28 is National Insurance Awareness Day, which means it’s a good day to evaluate your insurance coverage and assess your risk. Triple-I has put together a video to help remind you to review your policies and consider any life changes that might necessitate updating your coverage. This is also a good time to consider…
Read More2020 may see record $160bn+ losses, depending on Covid, hurricanes: GC
Insurance and reinsurance market losses from catastrophes and the Covid-19 pandemic already look set to reach somewhere from $100 billion to as much as $160 billion, according to broker Guy Carpenter. The total industry loss in 2020 could even be higher, if the Atlantic hurricane season proves particularly expensive for the insurance and reinsurance market…
Read MoreSwiss Re’s latest Matterhorn Re cat bond to settle at $240m
Global reinsurance company Swiss Re has now successfully secured $240 million of retrocession from its latest Matterhorn Re Ltd. (Series 2020-4) catastrophe bond transaction, taking the firm’s total cat bond coverage under the program to $1.31 billion. Swiss Re returned to the catastrophe bond market earlier in June, aiming to secure a fourth catastrophe bond…
Read MoreSome mortgage ILS’ triggered as delinquencies soar due to Covid-19
Three sponsors of mortgage insurance-linked securities (ILS) transactions have warned investors in the mortgage insurance linked notes that elevated loan delinquency levels in May 2020 have triggered their deals. The three sponsors in question are Radian Guaranty, National Mortgage Insurance Corporation and MGIC Investment Corporation, each of which have visited the capital markets with mortgage…
Read MoreSchroder Secquaero hires Mark Gibson for London-based ILS Solutions role
Schroder Secquaero, the specialist insurance-linked securities (ILS) unit of the global asset management group Schroders, has hired Mark Gibson, a well-known UK based ILS and reinsurance convergence focused executive whose most recent role was at Neon. Gibson joins Schroder Secquaero on July 1st we can report, taking on a role in ILS Solutions, focusing on…
Read MoreNiche hedge fund strategies (like ILS) the only ones to record Q1 inflows: Preqin
Hedge funds suffered in the first-quarter of 2020, as the Covid-19 pandemic drove billions of losses and also pushed investors to seek redemptions, resulting in a significant dip in hedge fund assets under management during the period. It’s no surprise, given the significant volatility experienced through March in particular, as the global ramifications of the…
Read MoreArch succeeds with Bellemeade Re 2020-1 mortgage ILS on second attempt
Arch Capital Group, the Bermuda headquartered specialist insurance and reinsurance carrier, looks set to successfully re-open the capital markets to mortgage insurance risk with its second attempt to get a Bellemeade Re 2020-1 Ltd. mortgage ILS deal away. While successful though, it looks like Arch Capital did not secure as much mortgage reinsurance protection as…
Read MoreBelize takes parametric rainfall payout from CCRIF after Amanda/Cristobal
The central American nation of Belize has benefited from a payout of its parametric excess rainfall policy, provided by the CCRIF SPC, after rains from tropical storms Amanda and Cristobal triggered its coverage. The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has already made one payout to Guatemala after the rainfall…
Read MoreCapacity will meet cedent needs at Jan 2021 reinsurance renewal: GC
While capacity and the availability of it has been cited as a key driver of reinsurance rates in this current firming market environment, broker Guy Carpenter said it expects capacity will meet cedent needs at future renewals, as it saw it to in June this year. Reinsurance broker Guy Carpenter says that the market continued…
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