Hannover Re to benefit from opportunities in ILS & Asia: Jefferies
Analysts at Jefferies have asserted that Hannover Re is set to benefit from opportunities in areas of change that it has embraced to a greater extent than many peers, including the hard market environment, ILS markets, Asian growth and even IFRS 17. In terms of innovation, Jefferies notes that Hannover Re has proactively embraced the […]
ILW prices surged on higher demand, lower capacity: CNR ILW fund
Industry loss warranty (ILW) pricing surged through the first-half of 2022, thanks to rising demand for ILW protection amid a constrained market for reinsurance and retrocession capacity, according to the CEO of the City National Rochdale Select Strategies Fund. Garrett R. D’Alessandro explained that the industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy […]
The catastrophe bonds seen most at-risk from hurricane Ian (currently)
We wanted to provide a list of catastrophe bond names, for those transactions that are currently felt to be most at-risk of losses after major hurricane Ian’s landfall in Florida. It’s important to stress that this list will continue to change and that any mark-downs in cat bond prices we cite here are averaged from […]
Twelve Capital warns of “potentially significant” aggregate cat bond erosion from Ian
After hurricane Ian, there is the potential for “significant” erosion to aggregate catastrophe bonds, according to investment manager Twelve Capital. In its latest update on major hurricane Ian, Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS) and reinsurance linked fund manager, said that it is now working off a range of industry loss estimates from $50 […]
Alternative capital’s resilience will be tested (again) by hurricane Ian: S&P
Alternative capital investors are about to have their resilience tested again, according to S&P Global Ratings, who said that although it is too early to have an accurate quantification of industry losses from hurricane Ian, it’s clear this is a major event for the reinsurance and ILS sector. With each day more information emerges showing […]
AM Best flags uncertainties for Sub-Saharan reinsurance market
Analysts at AM Best have flagged a host of uncertainties that may impede the near-term prospects of the reinsurance market in Sub-Saharan Africa (SSA), despite its significant expansion over the past decade. The rating agency notes that gross written premium in the SSA reinsurance market has grown at a 10-year compound annual growth rate of […]
Well over $1bn of cat bond mark-downs expected after hurricane Ian
We asked our insurance-linked securities (ILS) focused readers for their thoughts as to how large the Hurricane Ian mark-to-market implied loss to catastrophe bonds could be, when pricing sheets were marked on Friday. The resounding answer was that “more than $1 billion” of mark-downs in value were expected across the catastrophe bond market, while a […]
Swiss Re cat bond index plummets on Hurricane Ian. US Wind down 32%
The catastrophe bond market index calculated by Swiss Re Capital Markets, the insurance-linked securities (ILS) specialist arm of the global reinsurance firm, plummeted when priced on Friday, due to the potential impacts and losses cat bonds face after Hurricane Ian. Swiss Re Capital Markets has been tracking catastrophe bond market performance with its cat bond […]
Insurers expect minimal losses from Mexico’s September earthquakes
Ratings agency AM Best does not expect claims activity to increase significantly owing to the recent earthquakes that hit Mexico in September, as few minor damages have been reported and are unlikely to result in large insurance losses. The 7.7° magnitude shake on September 19 and one 6.9° on September 22 hit the Latin American […]
Building resilience to climate change is of paramount importance in Africa: ARC
Ahead of COP27, the African Risk Capacity (ARC) outlines the importance of parametric insurance on the African continent, highlighting the need for further collaboration with more developed nations. ARC provides parametric insurance services to African Union member states and farmer organisations to pool disaster-related risk across Africa and transfer it to international risk markets. Since […]