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New Premium News and Analysis

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Reinsurance

With Model Set, CCRIF Looks Towards the Capital Markets

The Caribbean risk pool will be open to new risk transfer solutions following the completion of an internal model project. Read More...

Reinsurers' Biggest Catastrophe May Be Lack of Catastrophes

A rush to the bottom may put the industry in a precarious financial spot. Read More...

Wall Street: Too Much Capital Draining P/C ROE

Return on equity is going one way: down. Read More...

"Chile is Chile"

Despite increasing claims, losses from the Chilean earthquake may not harden the broader market.
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"There May Not be Enough Capital to Go Around This Time"

Reports from Moody's and Aon say that the P/C reinsurance industry remains dangerously close the the precipice going into the hurricane season. Read More...

Guy Carp: Florida Renewals Down, Longer-Term Trends Remain Unclear

The Sunshine State may get a breather from reinsurance price increases but a state attempt at long-term stabilization falls short. Read More...

Paper Questions U.S. Coastal Property Insurance Sustainability

An academic view of coastal markets does not bode well. Read More...

Lack of Cat Losses Key to Reinsurers’ Flush of Capital

The absence of a major natural catastrophe in 2009 helped the reinsurance industry recover its capital base. This year may not be so kind.
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Windstorm Losses Hitting French Insurers Hard

Windstorm Xynthia will undermine an already weakened domestic P/C market in France.
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Billions in Cat Losses Have Yet To Find Their Way Into Rates

Willis Re says that reinsurers have experienced monumental quarterly losses but rates remain steady. Read More...

Japanese P/C Industry Faces Growth Challenges: Moody’s

The biggest firms want to expand internationally, but can’t. Read More...

Gulf of Mexico Wind Remains Energy Reinsurance Outlier

Willis argues that despite increased capacity in the broader energy market the Gulf of Mexico remains problematic. Buyers chafe a new underwriting standards.
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S&P: Cat Losses Could Force Reinsurers Into the Capital Markets

Some reinsurers have already burned through half of the catastrophe budgets. Read More...

Reinsurers Fail to React to Secondary Peril Threat

The industry continues to subsidize losses without charging adequate rates. Read More...

Examiner Questions Lehman Reinsurance Play

The defunct firm's stake in Wilton Re is only a footnote in the 2,220 page bankruptcy report, but the questions it raises could have broader implications for private equity investments in reinsurance.
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One Weekend’s Cat Losses Could Cost Partner Re $390 Million

Claims could rise even higher as damaged is assessed. Read More...

Academics Praise ILS Market Fundamentals but Raise Some Caution

Catastrophe bonds will become more important as reinsurance capital shrinks, but the market’s “underlying friction” remains. Life and longevity traders could be in store for a mortality spike. Read More...

Cat Risk Limits Key to New Validus Bond Rating

Following the acquisition of IPC, Validus will need close watch on its catastrophe exposure.
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The $8 Million Question: Haiti and the Relevance of Catastrophe Pools

Some see the Haitian tragedy as proof that catastrophes pools in cooperation with the capital markets work and should be expanded.
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Reserving, Yields Will Challenge P/C Earnings

Despite a banner 2009, reinsurance profitability may become a scarce commodity in the new year.
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Aon: Cat Bonds, Collateralized Re to Grow in 2010

Other alternative structures, such as side cars and exposure swaps, will not fair as well. Read More...

Despite Few ’09 Mega Cats, Data Shows Loss Trends Rising

Munich Re data shows that severe storm frequency is becoming a larger issue. Read More...

Aon Report: Biggest Cats Continue to Be Least Insured

Beyond the headline number of insured losses, developing countries suffered greatly in 2009.
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Cat Bond Market Interest or Reinsurance Market Cost

The upsizing of the Travelers issuance may say more about pricing of traditional reinsurance than investor interest in catastrophe bonds. Read More...

S&P Says Euro Insurance Struggles Will Continue Through 2012

Poor investment returns and Solvency II are muddying the outlook for the European insurance industry. Read More...

Renewal Season’s Three Pricing Rules: Location, Location and Location

Willis Re’s James Kent says pricing on U.S. risks will vary significantly based on geography. Read More...

Storm Frequency Becomes a Frequent Problem

Munich Re and RMS have rolled out products that target losses from local, but severe, convective storms. Read More...

Cat Reinsurance Continues Growth With Big Price Swings

Swiss Re expects even greater adoption of traditional P/C reinsurance. Cat bonds will continue on rebound Read More...

Moody’s Pulls Ratings on Over $2.5 Billion Genworth Life Structures

Several of Genworth Financial’s life securitizations had their ratings withdrawn last week in what may be the first of many for the life industry. Read More...

CEA Ups Reinsurance Over $200 Million, Taps Two New Firms

California’s state-sponsored earthquake insurer has increased capacity. Lagging cat model changes kept premiums high. Read More...

Cat Bonds May Favor Caymans

While Bermuda’s new supervisory scheme gains attention, Cayman’s cat bond track record will be difficult to overcome. Side cars may be a better bet for Bermuda.
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P/C Pros Defend Bermuda’s Domicile Dominance

Concern over the future of the insurance haven are misplaced. Professionals argue the island is well positioned despite well publicized tax flaps and defections. Read More...

Bermuda Insurers Expect a Limited Role for ILS

With balance sheets shorn up, the island’s reinsurance players will use catastrophe bonds and side cars as just another “tool.” Read More...

Captives Remain Market Choice for Terror Cover

As long as TRIA remains in tact, domestic captives are the vehicle of choice for terrorism cover. But NBCR remains elusive for many. Read More...

Tinderbox: California Wildfires and the Mortgage Meltdown

The housing market could fuel wildfire woes in California. Read More...

Morakot: A Major Test of Taiwan’s Developing Nat Cat Market

The storm may be the first time private reinsurers handle significant losses from Taiwan. Read More...

The Impact of Catastrophe Lines on Select Reinsurers for the Second Quarter of 2009

The second quarter was a mixed bag for the world’s largest catastrophe reinsurers. Read More...

Cat Risk at Center of Offshore Tax Debate

Changes in the deductibility of foreign affiliated reinsurance could alter the playing field in transferring U.S. catastrophe risk.
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U.S. Thunderstorm Losses Echo Across Industry

Insurers incurred over $6 billion so far this year; that’s $1 billion over the five year average. Read More...

State Lawmakers Move Ahead with Cat Finance Proposal

Industry reps argue the focus on historical losses is flawed. Plus, the public cat model bill pegged at $15 million. Read More...

Reinsurance Mergers, ILS Opportunity

As mergers drain capacity for property/casualty reinsurance, the door may be opening for ILS. Read More...

S&P 2009 Insurance Industry Conference: Reserve Releases Could Leave Commercial P/C Carriers Exposed

Commercial property/casualty carriers have been drawing down precious capital from reserve accounts, making them vulnerable to longer-tail claims that could haunt them for years to come. Read More...

S&P Insurance Conference: P/C Reinsurers Tout Discipline, but Concede Pricing Climate is a Cat Challenge

Property/casualty reinsurers need to be more aggressive about pricing climate change into catastrophe cover or they could face large underwriting losses on the business line. Read More...

TRIA Rollback Ups Industry Threat Level

The new U.S. federal budget calls for slashing the $100 billion government-provided backstop for terrorism insurance, surprising many in the property/casualty industry who thought the subsidy was safe from tinkering until 2014.
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It Ain’t Easy [Quantifying] Being Green

Green building practices will have an impact on rebuilding costs after a loss event, but how much remains in question for insurers.
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Connecticut Ponders Cat Fund

Another coastal state is pondering the future of insuring catastrophe risk. Read More...

SIFMA Conference: Cat Bond Secondary Market Ballooned with Sellers

Circumstances created a healthy secondary market for catastrophe bonds in 2008, even if it was mostly sellers. Read More...

SIFMA Conference: Collateral Remains King

The risks and rewards of Treasuries, LIBOR Indexes and tri-party repos are being debated by the cat bond industry. Read More...

SIFMA Conference: Catastrophe Bonds at an “Awkward Age”

Credit losses, illiquidity and sell offs have stunted the market’s growth. Participants look towards mid-year reinsurance renewals for signs of recovery. Read More...

Texas Looks to Broaden Cat Fund Into ILS

New legislation would free the board to consider capital markets options. Read More...

States Consider South Carolina Incentive-Based Disaster Model

Tax incentives, savings accounts may be pushed in coastal cat states. Read More...

New PERILS Program Underscores Exposure Risk

Getting exposure data correct is key to model worries. Read More...

Australian Bushfires May Force Rethink on Prevention

Local insurers will handle the losses but prevention practices may change. Read More...

New President, New Challenges for Risk Transfer

Inauguration day could be the start of major legislative and regulatory changes for U.S.-based alternative strategies. Read More...

P/C Reinsurers, Carriers Consider the Capital Markets Closed

Executives argue capital is scarce, expensive and everyone is doing just fine anyway. Read More...
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