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Rapid growth of the cyber market suggests an increasing role for ILS, panellists said at Trading Risk Live.
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Q4 issuance will likely be robust owing to new investors and increased allocations, the CEO said. -
Assets with ESG attributes can be more profitable than their counterparts, said panellists at the Convergence 2020 conference.
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“Pass-through” tax status would help SPIs issue US-based ILS, Joanna Syroka said.
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The transaction, led by Markel Specialty, showcased a new Aon IP capital market solution.
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More seasoned trapped capital is likely to be suited to such deals.
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Schroders and Leadenhall Capital Partners have participated in a $31mn (A$43mn) fundraise for Australian life insurance provider Integrity Life.
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Clix index will provide insured loss data for all major nat cat events since 2000.
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Whiting had worked with the firm, which is planning further life ILS fundraising, since 2007.
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Aon’s former head of international catastrophe management will take up the position next September.
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All three fires are prompting evacuation orders in Napa and Sonoma counties.
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Climate variations will likely spur demand for ILS capital to help reinsurers manage peak US hurricane exposure, the manager said.
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Sally buffeted cities and town as it moved across Alabama at speeds as low as 2 mph, the modeller said.
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Year-to-date lite and private cat bond placements total $220mn, up 30% from last September.
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Collateralised capacity will retain an important role in the retro niche.
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The storm is churning at Category 4 strength in the Atlantic and could impact Bermuda after Paulette's recent strike on the island.
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July rains and typhoons Maysak and Haishen severely damaged Kyushu region, the body said.
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ILS veteran Kathleen Faries also advocated for an industry superhighway to transform the way risk is moved.
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Life-threatening storm surge is already occurring along the coastline from Alabama to the Florida Panhandle, including Pensacola Bay and southern portions of Mobile Bay.
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The insurer could have total gross losses of more than EUR500mn, according to a French publication.
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Magnani became vice president, based in London, in September.
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The pension decided to invest in ILS in 2018 allocating 1.5% of the £1.9bn fund to Securis.
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The executives also called for government-private sector partnerships to address future pandemics and other protection gaps such as cyber.
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The start-up will run three auctions on Tuesday ahead of Hurricane Sally reaching the US coast.
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The rule will allow cedants to transfer risk to a local reinsurer which will have the exclusive purpose of issuing insurance-linked securities.
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The US National Weather Service issued a critical fire weather warning for parts of Idaho, Montana, California, Nevada and Oregon on Monday.
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A much harder retro market is driving reinsurance price increases.
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Still some way off Category 1 intensity, Paulette is expected to reach the Leeward Islands on Thursday night.
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The carrier did not give a gross loss estimate, but has added $39.2mn of reinsurance cover for a second event.
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It made a 4.4% gain over the past year from its insurance holdings, and has made 7.9% per annum since inception.
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The transaction covers US wind for two seasons on a per occurrence basis.
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The online trading platform also said it had signed deals with leading brokers.
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The $59.1bn pension’s ILS allocation stands at 1.6% of the fund.
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Fund investment in ILS has dropped sharply since totalling $125.5mn in 2018.
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Covid-19 losses and other catastrophe events have exhausted the catastrophe budgets of many companies, the ratings agency said.
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Lawrence Po-Ba was hired by the firm to source capital solutions for Lloyd’s syndicates in May.
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EMEA cat rates have failed to reprice while US and Japan markets have been more reactive, the firm noted.
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The retro space is expected to move towards named peril covers as rates approach post-Hurricane Katrina levels.
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The market is also interested in more liquid cat bonds, the reinsurer said at a press conference on Monday.
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The ILS manager expects investments will have low correlation with the financial markets.
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Subrogation recoveries from 2017-18 Californian wildfire losses drive capital releases.
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A reluctance on the part of the market to innovate on the trapped issue might lead to more investment in rated vehicles.
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Karen Clark & Company models have helped revolutionise catastrophe risk management, laying the foundations for ILS capital to enter the market.
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The Swedish manager has wound up its small UCITS cat bond fund as it said institutional funds were a better regulatory fit for ILS.
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The company acts as reinsurer and shares the risk with the Natural Disaster Fund.
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The typhoon, which is expected to make landfall on the peninsula on Thursday, is being compared to the devastating Typhoon Maemi in 2003.
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The improved premium environment started to show up in returns, but Covid-19 losses are also emerging, ILS Advisers said.
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Louisiana will account for the brunt of insured losses from the Category 4 hurricane, which made landfall last month.
