Trading Risk October 2017
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Property Claims Service (PCS) will include National Flood Insurance Program (NFIP) information in its insured loss estimates disclosures for the first time
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Falling cat bond prices in the wake of hurricanes Harvey, Irma and Maria have already pushed ILS yields up by 15-25 percent, according to the Lane rate-on-line index.
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Twelve Capital confirmed that it has hired former Barbican underwriter Aaron Coates as an executive director in its London-based sourcing team, a move first reported by Trading Risk
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AIG has appointed Charlie Fry, the former CFO of Novae Group, as head of reinsurance buying, operations and transformation
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Carsten Thienel has left Ed and will join JLT Re Asia Pacific, based in Singapore. Thienel has experience in multiple asset classes, including ILS and retro. He will be reporting to Stuart Beatty, CEO of Asia Pacific, as well as Bradley Maltese, deputy CEO of UK and Europe
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RMS has hired Pete Dailey as vice president to lead flood model development in its California headquarters
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Lloyd's has appointed Kirsten Mitchell-Wallace as head of risk aggregation to replace David Clouston when he steps down at the end of the year
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Willis Re senior vice president Paul Knutson has been signed up by BMS Re US as an executive vice president in its Minneapolis office
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Willis Re has hired former Third Point Re executive Tom Wafer as chairman for its North American operations alongside vice-chairman Jeffrey Livingston, a former Willis employee who rejoins the company from Marsh
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Simon Gander, one of the most senior staff at Aon Benfield in London, will leave the reinsurance broker at the end of the year, The Insurance Insider reported
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Risk management start-up Global Parametrics has added two members of staff to its new London office
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Willis Re has hired Adam Schwebach from rival Guy Carpenter, where he was a senior vice president, sister title The Insurance Insider revealed
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Marco Silva has become senior underwriter and head of UK and London market property at Scor after leaving the carrier's retro team in May
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Hurricanes Harvey, Irma and Maria (HIM) have put 2017 on course to become one of the insurance industry's most expensive years ever, with a high share of claims going to the reinsurance market
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Soft market conditions may have set the scene for longer potential collateral lock-ups after hurricanes Harvey, Irma and Maria, but early negotiations on settlements are still likely, market observers said
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Puerto Rico insured losses are likely to fall to a somewhat concentrated group of reinsurers including Lloyd's syndicates and Munich Re, according to regulatory filings analysed by sister publication The Insurance Insider
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The 2017 catastrophe losses may have come at a time when reinsurers' margins are suffering after years of rate cuts, but the industry's capital position is stronger than at any time since the 1970s, says JLT Re's global head of analytics David Flandro.
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Asian countries have expressed interest in establishing a multinational risk pool to protect against natural disasters, according to RMS research commissioned by the UK government.
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Global Parametrics is poised to conclude its first transaction - a $10mn risk transfer deal benefiting Vision Fund International, an NGO microfinance provider in the developing world
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Reinsurance rates may shift at 1 January if a reasonable percentage of the ILS industry's $80bn capital is trapped, according to Rob Procter, CEO of Securis Investment Partners
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The Blockchain Insurance Industry Initiative (B3i) has begun market testing its smart contract management prototype for property cat excess-of-loss (XoL) contracts this month, as 23 new members join the collaboration
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The price of longevity swaps has dropped this year, partly due to reinsurers adjusting their rates to reflect the slowdown in life expectancy improvement, sources told Trading Risk
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CRC facility launch; QBE exhausts agg; HSCM partnerships...
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Departing Willis Re global CEO John Cavanagh has linked up with ex-Ariel CEO Tom Milligan at start-up Beat Capital, which will provide funding for MGA launches, sister publication The Insurance Insider reported