Insurance

While challenges around capital consumption and the potential for overlap on the P&C side are clear, for investors, the insurance-linked securities (ILS) asset class represents a great opportunity to complement other private market solutions, according to industry experts. The comments came during the second day of Prospectus 2021 – the new annual re/insurance and ILS…

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has announced upgrades to its core service of climate catastrophe risk models and climate financial modelling tools. The two products, G๏TCHA and Clim๏Cats, are financial models linked to global climate physics and machine learning predictions and for the first time AbsoluteClimo…

The 1% aggregate exceedance probability insured loss (also the 100-year return period loss) from catastrophe events around the globe has risen to more than US $300 billion, according to risk modeller AIR Worldwide. This figure has been rising steadily in recent years and now reaching almost $301 billion it is at the highest level ever.…

International specialty insurance and reinsurance group Chaucer plc has launched a U.S. reinsurance focused underwriting operation in Bermuda, from where it expects to write quota share and excess of loss business across property, casualty and specialty lines. Chaucer’s new reinsurance branch in Bermuda has been launched following the receipt of regulatory approvals from the Bermuda…

Hurricane Iota has rapidly strengthened into a major hurricane and will bring catastrophic and life-threatening impacts to a Central American region that has yet to recover from the impacts of recent storm Eta. Hurricane Iota formed in the Caribbean in recent days and is taking a similar path to major hurricane Eta that slammed into…

Allied World is now set to secure its first slice of catastrophe bond backed reinsurance protection at the upsized target of $210 million, while the pricing for the 2001 CAT Re Ltd. (Series 2020-1)  transaction has now been fixed at the low-end of initial guidance, we’re told. Allied World Assurance Company (AWAC), a global insurance…

TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, has announced the hiring of Bill O’Keefe from consultancy McKinsey to become the firms new Head of Strategy. O’Keefe began his career on the broking and reinsurance side at Aon, but has since spent 8 years at McKinsey becoming Partner in 2017. At…