Emerging risks

Los Angeles-based modelling company Praedicat has announced it has raised $6mn to develop latency catastrophe models for emerging casualty risk..

AM Best said it would keep its negative outlook on the US reinsurance sector as it said pressure on property catastrophe rates remained.

RMS has hired ILS executive Pierre Wiart to be managing director of its new office in Sydney, it said in a statement today.

Hudson Structured Capital Management (HSCM) Bermuda has invested client funds with specialist managing general agency (MGA) Sciemus, which will be used to expand its Lloyd's underwriting platform.

GC Securities has established a new platform Cerulean Re to write and manage private collateralised reinsurance deals and cat bond lites.

Reinsurers are better placed to take on new risks than ILS capital, Leadenhall Capital chairman John Wells said during a panel on the future of ILS at the Global Insurance Forum yesterday.

ILS managers can differentiate themselves by offering cover for "non-cat catastrophe" risks, according to Aon Benfield's Jonathan Davies.

RMS has released a new class of "cyber-physical" risk model aimed at cyber-attack scenarios that could cause physical damage to property

London should leverage its specialist insurance expertise to focus on offering emerging risks such as cyber through its planned ILS framework, BNY Mellon said in a report released today (27 April)

Global uninsured losses from future natural disaster events could total $153bn annually, according to research released by Swiss Re's Sigma unit.

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Large natural catastrophes or "super nat cats" are one of four emerging risks that Swiss Re said could have the biggest impact on reinsurers, in a Sonar report released today (20 May).