Insurance
Florida firmly in the cone for a strengthening resurgence of hurricane Eta
The state of Florida is firmly in the cone of uncertainty for the soon to develop tropical system that emerges out of the remnants of recent hurricane Eta, as longer-range forecasts we discussed earlier this week now have an increasing chance of verifying. Having slammed Nicaragua with a devastating blow at near Category 5 strength…
Read MoreLancashire sees new flows in cat & property as market discipline improves
Lancashire Holdings, the specialty insurance and reinsurance group with a third-party capital management platform, is increasingly seeing new business flows that meet its return requirements across a range of business lines, in particular benefiting from growth across property catastrophe reinsurance, property direct and facultative, the company said this morning. Lancashire believes that market discipline is…
Read MoreMunich Re reports P&C loss on EUR1.5bn nat cat & COVID impact
Munich Re has reported more than EUR 1.5 billion of major losses to its reinsurance business, largely driven by the continuing significant impacts of the COVID-19 pandemic and a range of natural catastrophe losses. Reporting its nine-month results this morning, Munich Re said that it has made around a EUR 1 billion profit for the…
Read MoreTrials and Errors: Plaintiffs’ Attorneys Could Complicate Efforts to Help Businesses Hurt by COVID-19
By James Ballot, Senior Advisor, Strategic Communications, Triple-I It’s been more than eight months since COVID-19 first struck the U.S., and millions of small business owners are still hurting. All the while, a few plaintiffs’ attorneys are treating the pandemic as another opportunity to profit from costly insurance litigation. At a time when businessowners are…
Read MoreMarkel’s Richie Whitt “incredibly bullish on long-term prospects of ILS”
In spite of a challenging few years for both managers and investors from across the insurance-linked securities (ILS) space, the Co-Chief Executive Officer (CEO) of Markel Corporation, Richie Whitt, remains optimistic on the future of the market. In a wide-ranging discussion with the CEO of Aon’s Reinsurance Solutions division, Andy Marcell, as part of the…
Read MorePCS designates M7.0 earthquake in Turkey as catastrophe event
The recent earthquake affecting the Izmir region of Turkey has been designated as a catastrophe event by Property Claim Services (PCS), a division of Verisk Analytics. As a result of the designation, PCS will now analyse and track data collected from the insurance industry in the region, to derive an industry loss figure that will…
Read MoreCat losses & COVID hit TransRe and Alleghany, but growth persists
Alleghany Corporation and its reinsurance underwriting subsidiary TransRe highlighted elevated natural catastrophe losses and further impacts from the COVID-19 pandemic have driven them to underwriting losses, in third-quarter reporting. At the same time, the group has grown its insurance and reinsurance premiums underwritten by 15.8% and 9.5% in the third quarter and first nine months…
Read MoreAthene’s ACRA sidecar management fees triple quarter-on-quarter
As its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar vehicle begins to scale up, Athene Holding Ltd., the life and retirement reinsurance company majority owned by investor and private equity specialist Apollo Global has seen a tripling of management fees earned quarter-on-quarter. At the same time, Athene continues to have significant firepower to put to work…
Read MoreAmerican Family aims for upsized $175m Four Lakes Re 2020-1 cat bond
American Family Mutual Insurance Company is targeting an upsized $175 million of collateralized multi-peril reinsurance from its Four Lakes Re Ltd. (Series 2020-1) catastrophe bond issuance, the carriers first cat bond in a decade. Back in late 2010, American Family sponsored two tranches of severe thunderstorm linked catastrophe bonds, the $100 million Mariah Re Ltd.…
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