Insurance
Cat bond rates rise 13% in Q1, up 56% since 2016: Lane Financial
Catastrophe bond and insurance-linked security (ILS) rates-on-line were up by a huge 13% in Q1 2020 and have risen by 56% since the end of 2016, as measured by the synthetic ILS rate-on-line Index calculated by Lane Financial. It puts cat bond and ILS rates firmly in hard market territory, with the Lane Financial rate-on-line…
Read MoreConnecticut to partner with local firms to expand captive insurance program
The State of Connecticut Insurance Department has launched an initiative to work with local accounting firms on a program to expand their presence in the captive insurance company market. Original Article Posted at : https://www.accountingtoday.com/news/connecticut-to-partner-with-local-firms-to-expand-captive-insurance-program
Read MoreMarkel warns on Covid-19 hit to ILS operations, Nephila AuM down 4%
Markel Corporation reported its first-quarter 2020 results yesterday and in its report the company warned of the potential hit to its insurance-linked securities (ILS) operations from the Covid-19 pandemic, which is perhaps partly evidenced in a -4% decline in assets under management at Markel’s flagship ILS fund manager Nephila Capital. Markel, the global insurance, reinsurance…
Read MoreHudson Structured to invest $20m in legacy & program specialist R&Q
Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, is making a $20 million equity investment in specialist non-life insurance and reinsurance legacy investor and program manager Randall & Quilter (R&Q) Investment Holdings. Randall & Quilter (R&Q) is actually raising $100 million through new investments from institutional quality capital…
Read MoreAre Life Insurers Denying Benefits for Deaths Related to COVID-19?
Social media has been abuzz with posts suggesting life insurance claims related to COVID-19 are being summarily denied. Much of the anxiety seems to stem from a news story titled: Would my life insurance policy cover COVID-19 related death? An anchor for the news organization that aired the piece shared it on Twitter below the tweet: Will your life insurance cover you if you die…
Read MoreFAQs about COVID-19’s Impact on Workers’ Comp
Dr. John W. Ruser, President and CEO of the Workers’ Compensation Research Institute (WCRI), contributed this Q&A about the role workers’ compensation insurance plays in the coronavirus pandemic. Dr. John Ruser During this pandemic, many workers (nurses, police, grocery store clerks, transit professionals, etc.) are considered essential, potentially putting them at heightened risk for contracting…
Read MoreAXIS sets $235m loss reserve for Covid-19, largely from property lines
AXIS Capital, the Bermuda headquartered specialty insurance and reinsurance company, has revealed an expectation that the Covid-19 pandemic will drive some $235 million of losses, the majority of which will be in its property book. AXIS Capital gave a preview of the expected first-quarter hit to earnings from catastrophe events and severe weather losses, revealing…
Read MoreAon to cut staff pay, reflecting the Covid-19 pain facing brokers
Insurance and reinsurance broker Aon has revealed a raft of pay cuts affecting its staff around the globe, as well as other expense saving initiatives, all of which reflects the expectation that the broking industry may face particularly acute pain as a result of the Covid-19 economic slowdown. While insurance and reinsurance underwriting companies face…
Read MoreCovid-19 industry loss estimate hiked 50% by UBS on non-US BI uncertainty
Analysts from investment bank UBS have added 50% to their estimate for the eventual insurance and reinsurance industry loss from the Covid-19 coronavirus pandemic, lifting the top-end of the range to $60 billion. That still sits below the top-end of an estimate from specialist insurance and reinsurance focused equity analysts Dowling & Partners, who as…
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