ILW opportunity is there, if industry takes advantage of it: Johansmeyer, PCS
For industry loss warranty (ILW) markets opportunities are plentiful heading into 2023, but it’s up to the industry to take advantage of it as more concepts are expected to continue to gain traction, according to Tom Johansmeyer, Head of PCS, Verisk Insurance Solutions. “There’s plenty of opportunity, but the real question is whether the industry […]
Huge opportunity for ILS market to influence the next evolution: Artex Capital Solutions CEO Faries
The current re/insurance market dislocation provides a unique opportunity for the insurance-linked securities (ILS) space to influence the development of a more sustainable industry for the benefit of all parties, according to Kathleen Faries, Chief Executive Officer (CEO), Artex Capital Solutions. Artemis spoke with Faries ahead of the January 1st, 2023, reinsurance renewals, which she […]
China’s Insurance Market posted remarkable changes in terms of size & structure
China’s insurance market posted remarkable changes in terms of size and structure in the past decade, according to the country’s top insurance regulator. The country’s insurance capital rose from 6.27 trillion yuan (about 872 billion U.S. dollars) in 2012 to 24.71 trillion yuan at the end of June 2022, with an average annual growth rate […]
Howden CEO predicts $2bn of private-funded disaster insurance capacity over next five years
A new article by David Howden, founder and CEO of the Howden Group, says that forecasts that $2bn of private funded disaster insurance capacity can be delivered in the next few years. Writing on LinkedIn, Howden said that he believes that this extra capacity can be delivered within the next three-to-five years. In his article, […]
Industry loss warranty (ILW) rates-on-line head for all time highs
In the wake of hurricane Ian, the industry loss warranty (ILW) market faces its share of losses, which, alongside broader issues impacting reinsurance and retrocession capital availability, means ILW rates-on-line are now heading for all time highs, according to our sources. We’ve now updated our industry-loss warranty (ILW) pricing data set using insights gathered from a […]
Twelve Capital gets Art 9 SFDR classification for Climate Transition Equity Strategy
Twelve Capital, the Zurich headquartered investment manager with a focus on insurance-linked securities (ILS), insurance and reinsurance linked investments, has had its Climate Transition Equity Strategy classified under Article 9 of SFDR. The strategy focuses on the environmental aspects of climate sustainability, while also considering social and governance aspects. It is employed to operate an […]
Renewals: 40% risk-adjusted rate increases not enough for some markets
Reinsurance renewal negotiations continue, but we’re told some placement proposals delivered for market feedback are receiving short-shrift, with carriers’ pushing back and asking for more rate. We’ve now heard from sources about a number of cases where reinsurance program renewals are getting sent back, with brokers and cedents being asked to sharpen their pencils, on […]
Ping An highlights parametric and index insurance for combatting climate change
Richard Sheng, Secretary of the Board of Directors for Chinese insurer Ping An, has highlighted the role of parametric and index insurance in combatting the challenges of climate change. Speaking via videoconference on green and sustainable finance during the recent COP27 event, Sheng noted how his company has been exploring coverages that combine parametric and […]
Risk pools ARC, CCRIF and PCRIC agree to partnership at COP27
Global risk pools African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility) and Pacific Catastrophe Risk Insurance Company (PCRIC) have agreed to a partnership at the recent COP27 climate conference. The parties signed a memorandum of understanding (MOU) on the sidelines of COP27 in Sharm el Sheikh, Egypt to […]
SCOR to adapt retrocession to reflect market appetite & cat exposure for 2023
For global reinsurance company SCOR, 2022 saw the company adding new quota share sidecar capacity from third-party investors to its retrocession program, as it looked to add more diversification to its retro capital sources, while strengthening its retro protection. SCOR has always been a relatively significant buyer of retrocessional reinsurance protection, with its program usually […]