Catastrophe Risks
Global Economic Losses $36 Billion So Far in 2018, over Half Insured
Swiss Re said its preliminary sigma estimates surrounding global economic losses from natural catastrophes and man-made disasters in the first half of 2018 were $36 billion. According to Swiss Re, this figure is well below the 10-year average of $125 billion in economic losses. Read More
2018 Natural Disaster Losses 64 Percent Lower Than 10-Year Average
The AON Reinsurance Solutions "Global Catastrophe Recap: First Half of 2018" report reveals that global economic losses from natural disasters for the first half of 2018 were estimated at $45 billion-64 percent lower than the 10-year average of $124 billion and 48 percent lower than the 18-year average of $87 billion. Read More
Competition Drives Down Some Property Catastrophe Reinsurance Pricing
According to the latest first view report from Willis Re, titled "1st View New Normal Emerges," momentum for rate increases on loss-free reinsurance accounts dissipated during the June and July property catastrophe renewals, and, in some cases, pricing declined. Read More
Swiss Re Structures and Places $350 Million Florida Catastrophe Bond
Swiss Re Capital Markets successfully structured and placed the issuance of $350 million of insurance-linked securities by Frontline Re Ltd. on behalf of Frontline Insurance ("Frontline"). The transaction is Frontline's debut catastrophe bond and covers named storms in Alabama, Florida, North Carolina, and South Carolina. Read More
FEMA Launches FloodSmart Re CAT Bond for NFIP Flood Risk
The Federal Emergency Management Agency (FEMA) will launch a CAT bond to transfer risk from the National Flood Insurance Program (NFIP) to the capital markets through FloodSmart Re, Ltd., a Bermuda-domiciled special purpose vehicle. Read More