Insurance

The United States has experienced a vigorous and deadly start to the convective storm and tornado season in 2020, with five billion-dollar economic loss events caused by the peril already this year, according to Aon’s Impact Forecasting unit. The insurance and reinsurance broker’s Impact Forecasting team track and report on loss activity from weather around…

The California Earthquake Authority (CEA) has returned to the catastrophe bond market for the first time this year, seeking to add at least $400 million of earthquake reinsurance protection with a Sutter Re Ltd. (Series 20201- & 2020-2) issuance. The CEA is the not-for-profit residential earthquake insurance provider in the state and uses a significant…

Insurance-linked securities (ILS) investors may look more favourably on the catastrophe bond in future, as its relative contract certainty compared to some collateralised reinsurance and retrocession structures means they are less likely to be impacted by unexpected losses from the Covid-19 pandemic. Catastrophe bonds, given their largely named peril approach to catastrophe reinsurance and retro…

Global insurance and reinsurance group Everest Re has warned the market that it is reserving for a potential $150 million hit to its business from losses due to the Covid-19 coronavirus pandemic. While Everest Re said that it expects to report a combined ratio of below 100% across its consolidated reinsurance and insurance operations for…

Opportunities to invest in catastrophe bonds are being drip-fed or staggered into the market to a degree, with efforts to prevent available capital becoming overwhelmed or drying up seemingly evident in both the secondary trading and primary issuance markets for cat bonds. The catastrophe bond market has just been through its biggest first-quarter in the…

For the second Artemis Live audio and video interview I was delighted to speak with Frank Majors, co-CEO and President of Nephila Holdings, and a Director of insurance-linked securities (ILS) fund manager Nephila Capital. All of our Artemis Live video interviews can be accessed directly from our YouTube Channel and we have more interesting discussions…

Unfortunately we cannot return to Singapore this year to hold our annual ILS Asia 2020 conference due to the global coronavirus pandemic. After four happy and successful years in Singapore, ILS Asia 2020 is going online and virtual for what will be our fifth annual insurance-linked securities (ILS) conference with a focus on Asia and…

The maturity dates for two private catastrophe bonds that were issued through the Willis Towers Watson operated Resilience Re Ltd. platform have been extended by another year, to allow for ongoing development of losses to the subject business. The private cat bond transactions in question are a $173 million Resilience Re Ltd. (Series 1741A) and…

Business interruption claims from the Covid-19 coronavirus pandemic pose an “existential threat” to the entire reinsurance industry, broker Willis Re said today. At the same time, the pressures from the pandemic are likely to push re/insurers to support their capital through de-risking and hedging, making reinsurance capital availability key. Of course, this also positions the…