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Reinsurance & third-party capital are key growth levers for insurers: Aon

After capital buffers were eroded for insurers in 2023, a renewed focus on reinsurance as a capital management and growth lever has emerged, while broker Aon says that reinsurance capital and third-party capital are expected to be two of the three main capital tools utilised in future. Aon polls insurers on their use of capital […]

Major solar storm could drive bigger insured loss than Katrina: Bloomberg

Analysis from Bloomberg Intelligence suggests participants in the insurance and reinsurance industry should be seriously considering how they protect themselves against the risks of losses from major solar storms, with the peril having the potential to be as costly as major hurricanes. “A major space storm could cost insurers even more than a hurricane like […]

NZ EQC adds $1bn to reinsurance tower, securing $9.2bn for 2024 renewal

New Zealand’s EQC Toka Tū Ake, previously known as the New Zealand Earthquake Commission, has added more limit to its reinsurance tower, lifting the top by $1 billion for 2024, in a renewal securing $9.2 billion of cover for disaster losses in the country. The EQC has been growing New Zealand’s disaster reinsurance protection over […]

CEA risk transfer tower stable at $9.1bn after near $1.2bn April renewal

The California Earthquake Authority (CEA) has maintained its reinsurance and catastrophe bond tower at $9.1 billion in size through the start of 2024, with its most recent renewals for April 1st seeing the insurer securing almost $1.2 billion in protection. When we last covered the CEA, we reported that the group had reached December 31st […]

SCOR secures 40% upsized $175m Atlas Capital 2024-1 cat bond

French global reinsurance company SCOR has now successfully upsized its latest catastrophe bond by 40% to secure $175 million of retrocession from the Atlas Capital DAC (Series 2024-1) deal, while the pricing settled just above initial guidance, showing the risk adjustments made appear to have had the desired effect. SCOR ventured back to the catastrophe bond […]

Hannover Re collateralised reinsurance & cat bond business expanded in 2023

Despite the slowdown in the collateralised reinsurance marketplace in recent years, global reinsurer Hannover Re continues to place more limit on behalf of investor and ILS fund partners, growing this segment of its business again in full-year 2023. Hannover Re is a key facilitator for the global insurance-linked securities (ILS) market, both through assisting cedents […]

Aon reveals cyber attack/data breach as top risk for financial institutions

Aon, a global insurance and reinsurance broker, has revealed that cyber attack/data breach ranks first among the top business risks confronting the financial institutions industry. This insight is derived from Aon’s 2023 Global Risk Management Survey. The survey also identifies regulatory/legislative changes and economic slowdown/slow recovery as the next most critical risks facing financial institutions […]

ILS to play a crucial capital role to support cyber market growth: Neuberger Berman

With the cyber insurance market size projected to increase in the near future, members of the Neuberger Berman ILS team have said that insurance-linked securities (ILS) will “likely play a crucial role” in providing additional capital to support said growth. Citing a survey from PwC, Neuberger Berman’s Callum O’Rourke, Vice President, Insurance-Linked Strategies and George […]

SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond

France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance. SCOR last sponsored a catastrophe bond one year ago, from which it secured $75 million in […]

TSR forecasts 15 typhoons, 7 to be intense, in 20% below-norm Northwest Pacific season

With the development of La Nina conditions anticipated during this summer and its persistence through the autumn, Tropical Storm Risk (TSR) has called for the Northwest Pacific typhoon season to see activity levels around 20% below normal, albeit still with 15 typhoons, 7 of which are forecast to be intense. The expectation that La Nina […]

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