Insurance
Selective says reinsurance renewal rates outpaced its primary lines
Selective Insurance Group said that reinsurance rate increases are outpacing those seen on its primary policies, which means that its underwriting profits will be dented in 2021. Selective is the first primary insurer to say that rising reinsurance pricing is moving faster than its own ability to increase rates for its primary policies, with the…
Read MoreTech & ILS can support fragile SME infrastructure: Palihapitiya, OTT Risk at ILS NYC 2021
The arrival of the global pandemic shone a light on the fragility of the infrastructure that supports small and medium sized enterprises (SMEs) across the world, but with the use of artificial intelligence (AI) and machine learning, there’s an opportunity waiting to be unlocked, according to OTT Risk’s Chamath Palihapitiya. Soon after the initial shock…
Read MoreABIR launches ILS working group, PartnerRe’s Hughes to lead
The Association of Bermuda Insurers and Reinsurers (ABIR) has launched a new working group focused on insurance-linked securities (ILS) and alternative reinsurance capital. ABIR has set up a range of working groups and committees focused on key issues and opportunities facing the insurance and reinsurance market, with the goal of ensuring the Bermuda market is…
Read MoreFedNat expands quota share, adds aggregate reinsurance, reports $23m Q4 cat losses
FedNat Holding Company, the U.S. primary insurance carrier group, further expanded its reinsurance arrangements towards the end of the year, adding new quota share protection so it now benefits from 40% coverage through the middle of 2021. The insurer has also reported that its net catastrophe losses for the fourth-quarter will dent its results for…
Read MoreBrit’s ILS asset manager Sussex Capital grows to $525m
Specialty insurance and reinsurance player Brit Ltd. successfully expanded its insurance-linked securities (ILS) management activities during 2020, with its Sussex Capital ILS management and collateralised reinsurance platform increasing its assets under management to $525 million. Sussex Capital is an insurance linked securities (ILS) asset management platform that Brit founded in Bermuda in 2017. ILS and…
Read MoreIndustry loss from Australian east coast low finalised 3% higher at A$989m
The estimate for insurance and reinsurance market losses from the severe east coast low pressure storm that hit Australia at the beginning of February 2020, has been finalised with a rise of 3% at A$989 million by PERILS AG. Sydney flooding image from ABC News’ Oscar Coleman. PERILS first estimate for this storm at the…
Read MoreBest of Artemis, week ending 14th February 2021
Here are the ten most popular news articles, week ending 14th February 2021, 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. Ten most read articles on Artemis.bm,…
Read MoreILS maturing nicely, but education still needed: Mayer Brown, ILS NYC 2021
Overall, the insurance-linked securities (ILS) market is maturing in an attractive manner but as new sponsors and jurisdictions enter the fold, there’s a need for continued education, according to global law firm Mayer Brown. The legal work in the ILS world is significant and critical in driving innovation and ensuring everything is in order, the…
Read MoreInsurers make Fortune’s most admired companies list
A number of insurance companies are among Fortune magazine’s 2021 ranking of the world’s most admired companies. Berkshire Hathaway, at Number 6, tops the property/casualty firms listed, followed by USAA, Allstate, Chubb, Swiss Re, Travelers, and Zurich, respectively. MetLife tops the life insurance companies included, followed by New York Life Insurance, Massachusetts Mutual Life, Northwestern…
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