Month: June 2021

June 16, 2021

The acceleration of activity in the global catastrophe bond market over the last few months could now drive an opportunity for a number of multi-strategy investment funds to expand, as the availability of paper has increased even causing some investment […]

June 15, 2021

The global insurance protection gap, or the gap between economic losses and those that are insured, widened in 2020 as pandemic related effects drove global macroeconomic resilience to decline by 18%, according to a measure by reinsurance firm Swiss Re. […]

June 14, 2021

Re/insurance broker Willis Tower Watson has announced a project to help support the climate adaptation and financial resilience of coastal communities in Fiji and Papua New Guinea (PNG) vulnerable to the impacts of climate change, including major shock events. The […]

June 14, 2021

Year-to-date, catastrophe claims look to be running 17% above the long-term average (2008-2020), leading analysts at Jefferies to forecast another difficult year for the global insurance industry. At more than $30 billion, YTD insured catastrophe losses also exceed the 10-year […]

June 11, 2021

Re/insurance broker Aon has reported that US re/insurers will likely face a multi-billion-dollar payout over a series of convective storms in May that resulted in extensive hail, tornado, wind and flood damage. Of note was a severe storm that swept […]

June 10, 2021

Insurer Nationwide has invested in an early-stage funding round for Certificial, an insurtech with a platform that issues real-time certificates of insurance and simplifies compliance management. Certificial’s $5.8 million Series A funding round also included lead investor IA Capital, a […]

June 10, 2021

With the G7 meeting in Cornwall, UK beginning tomorrow and the COP26 only five months away, CEO’s of major global corporations are calling on world leaders to scale up climate risk transfer as part of the financial response to climate […]

June 9, 2021

A new AM Best report has argued that prospects for the US cyber insurance market are “grim,” due to the significantly worsening risk hazard environment and issues such as ransomware, business interruption and aggregation. Analysts noted that cyber insurance, which […]

June 9, 2021

After a flurry of catastrophe bonds launched in recent days, it is now clear that issuance of new catastrophe bonds and other related insurance-linked securities (ILS) tracked here at Artemis will break the record for the second-quarter and also the […]

June 8, 2021

General Motors Co. plans to offer subscriptions for its Onstar Guardian security services to anyone in the United States or Canada who wants to download a smartphone app, expanding beyond owners of GM vehicles in a step to generate recurring […]

June 8, 2021

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has experienced strong demand in the run-up to the renewals, with more than $700 million of reinsurance capacity sought from its platform by clients in May […]

June 7, 2021

The volume of catastrophe bond notes traded on the secondary market rose again in May 2021, as insurance-linked securities (ILS) fund managers and cat bond investors adjusted their portfolios to accept the strong almost $3.3 billion of primary issuance seen […]

June 7, 2021

AM Best has reported that a group of property insurers in Florida have hit a five-year performance and surplus low in 2020, and given persisting and significant market hurdles, the rating agency believes companies will find sustaining current surplus levels […]

June 4, 2021

Analysts at Moody’s have noted that the 2021 Atlantic hurricane season activity looks set to be “well above long-term historical averages,” which could result in continued pressure on reinsurance rates. According to forecasters, the combination of warmer than average sea […]

June 3, 2021

The Mesoamerican Reef system which lies in the Caribbean Sea, touching the coasts of Mexico, Belize, Guatemala and Honduras, is set to benefit from an innovative parametric insurance program to protect the reef and communities that rely on it against […]

June 3, 2021

Aon has announced the sale of $1.4 billion of US retirement related operations, which it says is a divestment intended to address certain questions raised by the U.S. Department of Justice over its merger combination with Willis Towers Watson (WTW). […]

June 2, 2021

Parhelion, an energy and climate risk finance focused company specialising in non-traditional risk issues, is targeting a capital raise of $500 million as it seeks to become a “sustainable insurer” focused on ESG aligned underwriting and investment. Launching its capital […]

June 2, 2021

US property and casualty re/insurers are reportedly braced for large potential catastrophe losses as another above-average hurricane season approaches, according to a new Fitch Ratings report. Fitch notes how both P/C insurers and global reinsurers are largely well capitalised following […]

June 1, 2021

Risk-adjusted pricing for property catastrophe reinsurance was up by between 5% and 10% on average at the June 1st renewals, according to the latest data from HX, the data, analytics and advisory division of Howden Group Holdings. Rate momentum was […]

June 1, 2021

According to a new report from Bloomberg, the cumulative cost of COVID-19 claims for the largest life reinsurers hit $4.4 billion in the first quarter of the year as mortality rates spiked. The biggest costs for life reinsurers came from […]