Insurance

The ongoing situation of riots and civil commotion outbreaks in numerous cities across the United States have the potential to aggregate into a reasonably sizeable loss for insurance and reinsurance carriers, which analysts at KBW warns could turn 2020 into a capital event for some. Over the last few days and nights riots have struck…

The UK’s Financial Conduct Authority (FCA), one of the key financial market regulators and part of the Bank of England, is to run a test case to help establish the validity of business interruption claims from the Covid-19 pandemic. Numerous major global insurers are involved, including leading players such as AIG, Allianz, Arch, Argenta, Aspen,…

Tokio Marine HCC, the specialty insurance underwriter and part of the Tokio Marine Group, is aiming to create a ‘centre of excellence’ focused on renewable energy insurance, now that its acquisition of GCube has completed. GCube is a managing general agent (MGA) and underwriter focused on the renewable energy sector as well as weather risk…

The Texas Windstorm Insurance Association’s (TWIA) new Alamo Re II Pte. Ltd. (Series 2020-1) catastrophe bond issuance has successfully been doubled in size thanks to strong demand from investors and will now provide the residual market property insurer $400 million of reinsurance protection. TWIA returned to the catastrophe bond market last month, with a new…

Becoming a manager of third-party capital from investors interested in accessing the returns of legacy insurance and reinsurance business is a “key goal” for Randall & Quilter (R&Q) Investment Holdings, the specialist non-life insurance and reinsurance legacy investor and program manager said today. In announcing its results, R&Q explained that it sees tapping into the…

Universal Insurance Holdings, a Florida headquartered and expansive primary insurance carrier, has secured the largest private market catastrophe reinsurance renewal in its history, with capital market support again evident and Nephila Capital a key participant. The insurance carrier group has bought a catastrophe reinsurance tower that extends up to $3.26 billion of coverage, $1.3 billion…

Issuance of new catastrophe bonds has continued to be brisk over the last few weeks, with repeat sponsors helping to drive total catastrophe bond and related insurance-linked securities (ILS) issuance for 2020 to-date above $7.2 billion, according to Artemis’ Deal Directory data. Catastrophe bonds are the source of the continued brisk issuance, as the mortgage…

Property Claim Services (PCS) has seen growing interest for its service that tracks global large onshore property losses of $500 million or greater and expects the first large risk industry loss warranty’s (ILW’s) will be transacted soon. PCS launched the Global Large Loss service in the fourth-quarter of 2019 in response to client demand, promising…