Insurance
U.S. commercial property insurance rates rise 21% in Q1 2020
Property insurance rates around the globe continue to accelerate higher, with commercial line rate increases leading the way and U.S. property rates accelerating fast, suggesting that reinsurance rates will continue to rise in tandem and to keep up. Following a number of years where catastrophe losses around the globe heavily impacted the commercial and homeowners…
Read MoreCEA successfully upsizes Sutter Re 2020 quake cat bond 75% to $700m
The California Earthquake Authority (CEA) has now settled for a 75% upsizing of its latest catastrophe bond issuance, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now fixed to provide $700 million of collateralised earthquake reinsurance protection. The not-for-profit residential earthquake insurer of California had returned to the catastrophe bond market in April…
Read MorePricing to define size of TWIA’s Alamo Re II 2020 cat bond: CFO
The Texas Windstorm Insurance Association’s (TWIA) mid-year 2020 reinsurance and catastrophe bond renewal looks set to depend on pricing this year, as the insurer is aware of challenges faced in both marketplaces and will look to maximise on coverage at the best possible and most efficient pricing as it builds its 2020 reinsurance tower. Speaking…
Read MorePartnerRe sale to Covéa called off, as Covid-19 renegotiations fail
The sale of global reinsurance firm PartnerRe to French insurance group Covéa has been called off, after attempted renegotiations over the price with seller EXOR in the wake of the Covid-19 pandemic failed to find an agreement. Covéa was set to acquire reinsurance firm PartnerRe from owner EXOR, the Italian holding company and investment entity…
Read MoreU.S. Treasury weighs in on debate surrounding business interruption insurance
The U.S. Treasury Department issued a letter to members of Congress on May 8 which argued that proposals to force insurers to retroactively change business interruption (BI) policies to pay losses arising from the COVID-19 pandemic threaten the ability of the industry to serve policyholders and might lead to the insolvency of the industry. In…
Read MoreDiversification still key driver for alternatives investing, appetites growing
Investors seeking diversified sources of return, particularly with little correlation to broader financial market factors, remain key drivers of allocations to the alternative asset classes of the world and appetite for these assets continues to grow. Data from alternative investment specialist information service provider Preqin shows that investors allocating to alternatives continue to rank the…
Read MorePandemic-induced market dynamics could result in Class of 2020: Brad Adderley, Appleby
Current insurance and reinsurance market dynamics suggest that it could be an opportune time for startups to enter the property/casualty market, according to Brad Adderley, Partner at Appleby, Bermuda. As the ongoing Covid-19 pandemic continues to alter the global economic outlook and influence the dynamics of the risk transfer space, there could be an opportunity…
Read MoreU.S. Treasury opposed to forcing of retroactive COVID-19 BI claims
The United States Treasury has shown in a letter that it is opposed to legislative moves that could force retroactive business interruption claims related to the Covid-19 pandemic onto the insurance and reinsurance industry. The business interruption issues related to the Covid-19 coronavirus pandemic continue to gain air time, with uncertainty over the eventual influence…
Read MoreArtemis Live: Interview with Luca Albertini, Leadenhall Capital Partners
The latest in our series of Artemis Live video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets features Luca Albertini, CEO of London headquartered insurance-linked securities (ILS) and reinsurance related investments manger Leadenhall Capital Partners LLP. All of our Artemis Live video interviews can be accessed directly from our YouTube Channel and…
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