
Here are the ten most popular news articles, week ending 22nd August 2021, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics.To ensure you never miss a thing or get our email alerts for every article we publish.Ida made landfall yesterday (Sunday) as a major Cat 4 hurricane with winds of 150 mph.
.Also read our article on potential catastrophe bond market impacts.Reinsurance prices to rise at Jan 2022, but rate adequacy nears: Fitch Reinsurance rate increases are expected to continue at the all-important January 2022 renewal season, but their amount is expected to be reduced to high single-digit to low double-digit levels, as rate adequacy may be approaching for major reinsurers, Fitch Ratings has said.
Florida property insurance woes persist with rate increases & non-renewals Florida’s property insurance market continues to be beset by challenges from losses, loss cost inflation (social inflation) and litigation, which is persistently driving a need for more rate, but also affecting property owners as insurers non-renew in a number of cases.SoCal Edison approved to use cat bonds to transfer wildfire risk California electrical utility Southern California Edison has been approved to buy up to $1 billion of liability insurance protection for third-party wildfire-related claims, with catastrophe bonds approved as a structure it can use to secure some of the necessary limit.Media reporting of disasters drives cat bond alpha opportunity: John Seo, Fermat The way mainstream media report on natural disasters and severe weather events is likely to present an opportunity for catastrophe bond fund managers to generate alpha over the coming years, according to John Seo of Fermat Capital Management, LLC.
Sale agreed for Credit Suisse linked reinsurer Humboldt Re Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers has reportedly been the subject of the signing of a sale purchase agreement, suggesting a new owner has been found.Indonesia launches US $500m risk pooling facility.Risk transfer a goal The government of Indonesia has launched a new disaster risk pooling facility that will initially have more than US $500 million of capacity available to help pay for the economic costs of natural catastrophes and severe weather events, but with a future goal of transferring some or all of the risk.
Europe floods & US wildfires seen as ILS or cat bond aggregate threat We’re told that insurance-linked securities (ILS) fund managers are anticipating some aggregate deductible erosion of certain ILS or catastrophe bond positions, due to the effects of one of the largest natural catastrophe losses in years striking Europe, the severe flooding in July, plus the accelerating wildfire season across the United States.Tremor launches multi-structure & peril placements with Surveyor Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has launched a new feature of its Panorama risk marketplace, offering clients Surveyor, which allows for multiple structures and perils to be priced and placed efficiently at the same time.Cat bonds for humanitarian & relief needs in focus at Howden After having played a role in the issuance of the world’s first catastrophe bond for volcano related disasters, the Howden insurance and reinsurance broking group wants to expand the use of catastrophe bonds to cover humanitarian funding and other types of disaster relief.
Best London market conditions in decades.No surprise ILS interest grows The London insurance and reinsurance market is experiencing its best conditions in decades, according to analysts from investment bank Jefferies, which means it is no surprise that insurance-linked securities (ILS) fund managers are increasingly looking to access business there.This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days.
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