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Here are the ten most popular news articles, week ending 7th October 2018, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Early Bird tickets are still on […]Best of Artemis, week ending 7th October 2018 was…
Specialty insurance and reinsurance group Lancashire Holdings Limited has pre-announced some expected third-quarter catastrophe and marine losses, which the firm expects will drive it to a negative return on equity for the quarter. Lancashire has broad exposure in the property and specialty reinsurance markets, hence the firm is always likely to suffer losses from any […]Lancashire hit by…
The government of the Philippines is once again discussing the issuance of catastrophe bonds with the support of the World Bank, as it looks to the capital markets to secure insurance and reinsurance capacity to provide contingent financing for recovery from major natural disasters. The Philippines has been involved in almost annual discussions on this […]Philippines government discussing…
Bitcoin and other cryptocurrencies are “wild west” assets that expose investors to a litany of risks and are in urgent need of regulation, MPs on the Treasury select committee have said.
China initiated a harsh crackdown on cryptocurrencies in early September, part of a broader toughening against financial risk and increased regulatory vigilance on new financial products. Initial Coin Offerings (ICOs) are now banned, a necessary action at present to protect investors from fraud and maintain financial stability in the short term.
Hurricane Michael has strengthened to a major Category 3 storm with 120 mph sustained winds and higher gusts and is forecast to make landfall in Florida on Wednesday with some additional strengthening expected and experts warning of a life threatening situation from winds and storm surge. Hurricane Michael has strengthened today over the warm Gulf […]Hurricane Michael reaches Cat 3 winds of…
Tropical storm Michael formed in the Caribbean yesterday and almost immediately meteorologists were warning of a hurricane Michael landfall in the Florida Panhandle area of the Gulf Coast around the middle of this week. Currently the National Hurricane Center’s forecast data has a landfall maximum intensity of 85 knots, so just below 100 mph, but […]Hurricane Michael forecast to…
Hurricane Michael has strengthened once again, becoming a major Category 4 storm with 155 mph sustained winds and higher gusts and is forecast to make landfall in Florida in the coming hours as an extremely dangerous storm, with experts warning of a life threatening situation from winds and storm surge. Hurricane Michael has strengthened further […]Hurricane Michael intensifies further…
The eventual insurance and reinsurance industry loss from last weeks hurricane Michael is not expected to trigger any of its catastrophe bond positions, according to specialist insurance-linked securities (ILS) investment manager Plenum. Zurich based specialist insurance-linked securities (ILS) and catastrophe bond investment manager Plenum Investments said that the hurricane would not cause…
U.S. primary insurance giant Chubb has today pre-announced an estimate of its third-quarter catastrophe losses, pegging them at $450 million before tax and net of reinsurance, which is below where some industry analysts had expected them to be. After tax Chubb said that its third-quarter 2018 catastrophe losses would amount to $372 million, again after […]Chubb’s $450m net of…
As the world watches another major natural catastrophe event unfolding, in major Category 4 hurricane Michael, it’s become clear that recent weeks have been very expensive and broker Aon says that September alone has resulted in “tens of billions” of economic losses around the globe. However, the events in September also served to highlight the […]September nat cats cause…
The precise location where hurricane Michael makes its expected Category 4 landfall today will have a significant bearing on the potential for ILS impacts, according to Twelve Capital, who also estimated on a stochastic basis that the eventual industry loss could be $5 billion to as much as $15 billion. Specialist ILS fund manager Twelve […]Hurricane Michael landfall site a key factor for…
For French reinsurance firm SCOR being the first company to sponsor a catastrophe bond using the new UK insurance-linked securities (ILS) regulatory regime was “not an easy process,” according to Victor Peignet. Peignet, CEO of SCOR Global P&C, was speaking at the Monte Carlo Rendez-vous at the reinsurers media briefing and discussed the challenges that […]SCOR’s…
Hiscox Re & ILS, the reinsurance and insurance-linked securities (ILS) division of global re/insurer Hiscox, has promoted Andrew Dolphin to the role of Chief Operating Officer, having previously worked in reinsurance buying and led the international business as Chair. Dolphin takes on the new role immediately and will join the Hiscox Re & ILS Executive […]Hiscox Re & ILS…
Analysis from the Bermuda Monetary Authority (BMA) shows that Bermuda’s position as the domicile of choice for the issuance of insurance-linked securities (ILS) transactions remains, with the island being home to the large majority of new issuance. This message was also reinforced at today’s ILS Bermuda Convergence 2018 conference on the island. The BMA has […]Bermuda still home to…
The performance of insurance-linked securities (ILS) funds in August 2018 was hit by a number of factors, leading to an average return for the market of 0.45% for the month, which is below the long-term average. The month of August saw impacts to both the catastrophe bond and private ILS, or collateralised reinsurance, focused funds […]ILS funds hit by Citrus cat bond loss creep &…
Blue Marble Microinsurance (Blue Marble) is working with coffee company Nespresso on a pilot program to deliver weather index insurance to smallholder coffee farmers in Colombia. The pair note that due to climate change producers of coffee are particularly exposed to weather variability and extremes, resulting in a need for risk transfer solutions to assist […]Blue Marble works with…