Insurance
Kavanaugh, Roberts signal inclination to keep Obamacare alive
Two key U.S. Supreme Court justices indicated they are inclined to uphold the bulk of the Affordable Care Act as the court weighed the fate of a landmark law that provides health-insurance to 20 million people. Original Article Posted at : https://www.accountingtoday.com/articles/kavanaugh-roberts-signal-inclination-to-keep-obamacare-alive
Read MoreNew pools of capital will look to evolving parametric market: AmWINS Kaplan
The parametric insurance and risk transfer market is evolving rapidly and its ability to provide what are perceived as cleaner contract terms, as well as greater certainty, looks set to be increasingly attractive to alternative sources of reinsurance capital. The parametric insurance marketplace is more than twenty year’s old. In fact the first parametric catastrophe…
Read MoreAllied World looks to upsize first cat bond by one-third to $200m
Allied World Assurance Company (AWAC), a global insurance and reinsurance company and part of the Fairfax Financial group, aims to increase the size of its first catastrophe bond deal, with the 2001 CAT Re Ltd. (Series 2020-1) multi-peril issuance now targeting $200 million of reinsurance limit for the company. That’s an increase of one-third on…
Read MoreGlobal insurance premiums to return to growth in 2021: Swiss Re
Reinsurance giant Swiss Re is forecasting that global insurance premiums will return to growth in 2021, after having contracted in 2020 due to the effects of the COVID-19 pandemic. The Chinese insurance market continues to show the most promise, with Swiss Re forecasting that premiums will rise by an estimated 10% in non-life next year,…
Read MoreHiscox Re & ILS hires Williams as senior property cat underwriter
Hiscox Re & ILS, the international reinsurance and insurance-linked securities (ILS) arm of the global Hiscox Group, has announced the hiring of Marlon Williams in Bermuda as a senior underwriter of international property catastrophe risks. Williams was most recently a property catastrophe reinsurance underwriter at Markel Corporation and so the timing of the move could…
Read MorePacific Life Re in £3.7bn longevity swap for Prudential pension scheme
Pacific Life Re, the global life, longevity and morbidity reinsurance firm, has completed a UK £3.7 billion longevity swap transaction for the Prudential Staff Pension Scheme, in an arrangement that was entered into using a Guernsey captive structure. Pacific Life Re has been growing its activity in the longevity swap, risk transfer and reinsurance market…
Read MoreTropical storm Eta’s soaking to continue in second Florida landfall
Tropical storm Eta is turning north and heading for the Gulf Coast of Florida, where the storm is expected to deliver a second soaking blow to the state, having caused flash flooding further south in its initial path. Tropical storm Eta’s journey around the Caribbean, Florida straits and Gulf of Mexico has been a long…
Read MoreTriple-I’s Chief Actuary: Insurers Are Navigating COVID-19’s Economic Fallout
The pandemic affected almost every link in the property/casualty value chain, but the industry weathered the stress well, according to Triple-I’s chief actuary, James Lynch. “The U.S.’s property/casualty (P/C) insurers provided premium relief, retained employees, and weathered a capital market downturn while navigating this year’s COVID-19 pandemic,” he said at the Casualty Actuarial Society’s (CAS)…
Read MoreReinsurance softens Louisiana Citizens hit from hurricanes
Louisiana Citizens Property Insurance Corporation, the non-profit state mandated insurer of last resort in storm hit Louisiana, has seen the hit to its portfolio from recent hurricanes significantly softened by its reinsurance program. In fact, Louisiana Citizens has revealed that its ultimate loss from recent hurricanes has been reduced by more than 72% to just…
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