Insurance
Izmir, Turkey earthquake industry loss estimated at EUR 55m by PERILS
The earthquake that struck off the coast of Turkey on October 30th and devastated some areas including the Izmir region is estimated to have only cost the insurance and reinsurance industry EUR 55 million, according to an estimate from PERILS AG. The earthquake cause significant property damage around the Izmir region, downing buildings and damaging…
Read MoreCatastrophe bonds hit all-time record, with $10.3bn issued in 2020
Catastrophe bond issuance in 2020 has now surpassed another annual record, as the total amount of risk capital issued in pure, syndicated property cat bond transactions so far this year has now reached almost $10.3 billion. It’s the first time in all the years we’ve been tracking catastrophe bond market activity that issuance volumes have…
Read MoreArch Capital returns for fourth Bellemeade Re mortgage ILS issuance of 2020
Arch Capital Group Ltd., the Bermuda headquartered specialty insurance and reinsurance firm, has returned to the capital markets for a fourth Bellemeade Re mortgage insurance-linked securities (ILS) issuance of 2020. We understand this fourth mortgage ILS transaction from Arch Capital is in the early stages of being marketed to investors at this time. Arch has…
Read MoreBest of Artemis, week ending 13th December 2020
Here are the ten most popular news articles, week ending 13th December 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. Ten most read articles on Artemis.bm,…
Read MoreIs my exotic pet covered by insurance?
Photo by Andre Mouton from Pexels Did you know that December 14 is international monkey day? This delightful holiday to honor everyone’s favorite simians was invented by two Michigan State art students in 2000. Suggestions for how to celebrate this holiday include donating to conservation efforts or reading to children about monkeys. Of course, here…
Read MoreLloyd’s ILS structure to be about capital provision through Members
The impending insurance-linked securities (ILS) structure that is being developed by the Lloyd’s of London insurance and reinsurance marketplace will be about capital provision through Lloyd’s members, so investors will benefit from a new web-based platform for managing their asset allocations to the marketplace. In a briefing today, Lloyd’s CFO Burkhard Keese presented the newly…
Read More2020 US wildfire industry loss estimate lifted to $7bn – $13bn by RMS
The estimated insurance and reinsurance market loss from wildfires that have affected largely the western United States in 2020 is now estimated to be some two-thirds higher, as catastrophe risk modeller RMS has lifted its loss estimate range to $7 billion and $13 billion. Previously, RMS had estimated the industry loss from wildfires in the…
Read MoreLiberty Mutual’s new Mystic Re IV cat bond grows 50% to $300m
The new Mystic Re IV Ltd. (Series 2021-1) catastrophe bond transaction sponsored by insurance giant Liberty Mutual has been upsized during its marketing, growing by 50% to now feature an issuance of $300 million of notes to support reinsurance protection for the carrier. Liberty Mutual returned to the catastrophe bond market recently to sponsor its…
Read MoreVantage can leverage ILS to be creative & expand the pie: CEO, Hendrick
Combined with advanced technology and great talent, Vantage sees the range of insurance-linked securities (ILS) structures as a means to be innovative and expand the set of risks that are covered by the risk transfer space, according to co-founder and Chief Executive Officer (CEO), Greg Hendrick. Speaking with Artemis around the new re/insurance carrier’s launch…
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