Catastrophe Risks
FEMA Places Reinsurance for Flood Risk 4th Consecutive Year
For the fourth consecutive year, the Federal Emergency Management Agency (FEMA) has completed placement of reinsurance coverage. Read More
Insured Global Catastrophe Losses Down at $56 Billion in 2019
In its latest sigma findings, Swiss Re said global insured losses are estimated to be around $56 billion, down from $93 billion in 2018 and below the annual average of the previous 10 years. Read More
Willis Re Securities Completes €120 Million ILS CAT Bond for Covéa
Willis Re Securities has structured and placed €120 million of insurance-linked securities (ILS) to provide reinsurance capacity for Covéa Mutual Insurance Group. Read More
Insurers Continue To Reexamine Wildfire Peril
With the proliferation of wildfire losses in California, insurers will continue to reexamine this peril and likely make adjustments to risk appetites, capital management strategies, and reinsurance partnerships. Furthermore, enterprise risk management practices and risk-scoring models used by catastrophe modeling firms will also likely need to become more sophisticated. Read More
Catastrophe Losses and US Tax Reform Continue To Affect Bermuda Financial Results
The 2018 financial statements of 22 Class 4 Bermuda-domiciled re/insurers revealed slight favorable results despite above-average catastrophe losses. Underwriting gains for the group in 2018 were $0.3 billion, with a combined ratio of 98.7 percent and a 3.4 percent net income return on equity, with both measures improving over 2017 results. Read More