Insurance

France headquartered global reinsurance company SCOR has suspended the marketing of its new catastrophe bond, Atlas Capital Reinsurance 2020 DAC (Series 2020-1), citing the market disruption created by the current pandemic. SCOR returned to the catastrophe bond market just a fortnight ago with its latest Atlas Capital transaction, as it sought to expand its capital…

Insurance-linked securities (ILS) and catastrophe bonds investments are well placed to weather the current Covid-19 coronavirus pandemic situation, according to specialist reinsurance asset manager Twelve Capital. The insurance and reinsurance market has a strong track record of coping with highly distressed market environments, Twelve Capital says. As a result, it believes that the sector is…

There is a chance that reinsurance and retrocession buyers begin to favour fully collateralised protection more highly again, as they become increasingly aware that there are financial and economic risks which of a scale that can threaten traditional re/insurer solvency. The insurance-linked securities (ILS) market was a fully collateralised source of reinsurance and retrocessional protection…

Dmitry Mnushkin, President of Bermuda-based insurance and reinsurance focused software house, Treefrog Consulting Ltd., highlights the important role software plays in both the growth and efficiency of the insurance-linked securities (ILS) market. Artemis recently spoke with Mnushkin following the release of Treefrog’s ILS and reinsurance deal pricing and rollup platform, Foundation, designed to provide users…

European windstorm Victoria, also known as storm Dennis in the UK, is estimated to have cost the insurance market at least EUR 286 million, according to PERILS AG. Being its first estimate for the market-wide property insurance and perhaps reinsurance loss for storm Victoria, there is a good chance PERILS increases it at the next…

Property and casualty insurance and reinsurance underwriter Sirius International Insurance Group, Ltd. has launched a formal sales process, after its parent China Minsheng agreed to the sale. Sirius was sold to Chinese investment group China Minsheng Investment Corp., Ltd. in 2015 by its previous owner White Mountains. The sale included the transfer of activities related…

The capital buffers of some of the largest reinsurance companies have been significantly shrunken by the financial market declines seen in the last few weeks because of the Covid-19 coronavirus outbreak, potentially reducing their ability to weather any major catastrophe events that occur. With stock markets around the globe generally down 20% or more over…

Insurance and reinsurance market losses from severe storms and flooding that impacted the eastern coastal region of Australia at the beginning of February are now estimated to have reached A$677 million by the Insurance Council of Australia (ICA). Sydney flooding image from ABC News’ Oscar Coleman. The storms and torrential rains began around February 4th…

Here are the ten most popular news articles, week ending 29th March 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. *** Please answer this survey on…