The largest insured losses of 2009 occurred in the U.S. and Europe, but the developing world continued to suffer billions in uninsured economic losses, according to a recently released
The final tally on Travelers Co.’s Longpoint Re catastrophe bond is $500 million, twice the initial estimate and the largest issuance of 2009. Longpoint is structured into two, $250
European insurers and reinsurers have survived the financial storm but poor investment returns and Solvency II will hound earnings growth for years to come, according to Standard & Poor’s.
PERILS AG’s use in two industry loss warrants (ILW) announced today is likely the first step to its broader adoption into catastrophe bonds, says an industry professional. “I think
Bermuda is publicizing its stock exchange as the ideal environment for creating new insurance-linked securities as it competes with the Cayman Islands for dominance in the catastrophe bond industry.
The annual ritual of renewing reinsurance treaties is in full swing and by all accounts reinsurers are attempting to hold the line on pricing. But for the world’s largest
Boston-based Karen Clark & Company is launching what it describes as new service that will review carriers use of catastrophe models. According to a press statement, the new service
A $850 million securitization sponsored by Reinsurance Group of America had its rating pulled last week in the latest round of Regulation XXX deals to meet a similar fate. South
PERILS AG announced today it has launched an Industry Loss Index Service for European windstorm events. Company CEO Dr. Luzi Hitz said in a press statement that the PERILS industry
As the cost of frequent but smaller storms becomes a larger part of insurance industry losses, both reinsurers and catastrophe modelers expect to expand their offerings. Last week, global reinsurer
U.S.-based P/C carrier Travelers is currently marketing a $250 million multi-year catastrophe bond dubbed Longpoint II to cover Northeast Hurricane and other risks, according to a
Growth in the use of catastrophe reinsurance continues to rise steadily despite cyclical price shocks, according to Swiss Re. Total expected catastrophe excess of loss (Cat XL) premium within the
