Catastrophe Risks
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
Crumbling Foundations Captive Finalizes Participation for 61 Homeowners
The so-called crumbling foundations captive said it recently finalized program participation agreements for 61 homeowners previously awaiting funds (since June 19) from the captive that would allow them to begin scheduling contractors to work on their homes. Read More
Reinsurers "Uncomfortable" with Understanding of Wildfire Risk
According to S&P, reinsurers were "caught by surprise" by the back-to-back California wildfires in 2017 and 2018, and challenges persist in understanding this type of peril. Read More