Munich Re predicts “long-term” reinsurance market hardening

This morning, global reinsurer Munich Re said reinsurance is expected to see a “prolonged” market hardening, with rate hikes forecasted for the January 2022 renewals and European contracts considered particularly important as large losses and inflation point to increased pricing discipline.Doris Höpke, Member of the Board of Directors: “Rising prices for various assets and the … Read more

Sempra secures at least $180 million for SD Re wildfire cat bond

Electric utility Sempra Energy appears poised to secure its third installment of disaster-backed wildfire insurance protection for the minimum target issuance size of $180 million, while the price for its new SD Re Ltd. (Series 2021-1) transaction is on track to close midway through guidance.Sempra Enery returned to the catastrophe bond market earlier this month … Read more

Best of Artemis, week ending October 17, 2021

Here are the ten most popular news articles, week ending October 17, 2021, on catastrophe bonds, ILS, reinsurance capital, and related risk transfer topics. To make sure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.Ten most read articles on Artemis.bm, … Read more

Hannover Re expects rising catastrophe reinsurance prices in Germany

For the second year in a row, the German subsidiary of Hannover Re, E+S Rückversicherung AG, is forecasting rising reinsurance prices in Germany, but this year it is due to the significant catastrophic losses suffered.A year ago, the Hannover Re subsidiary said: German reinsurance rates would rise in January 2021 renewals, but that was seen … Read more

IGI adjusts annual accounts

International General Insurance Holdings (IGI) is restating its financial statements in response to a statement from the United States Securities and Exchange Commission (SEC) regarding the accounting treatment of warrant instruments issued by Special Purpose Acquisition Companies (SPACs). According to the specialist commercial (re)insurer, IGI’s consolidated financial statements for the year ended December 31, 2020 … Read more

Florida market ‘unsustainable’, reinsurance rates soar in 2022: Citizens CEO

The Florida homeowners insurance market is facing “unsustainable” conditions and the consistency of the loss in the market is considered “staggering,” according to CEO of Florida’s Citizens Property Insurance Corporation Barry Gilway.Speaking to a Florida House subcommittee on insurance and banking this week, Florida Citizens CEO Gilway said the first indications are that reinsurance rates … Read more

Vida Capital appoints new CEO

Vida Capital, Inc., the alternative investment manager with a focus on life insurance and insurance-related securities (ILS), has announced the appointment of a new president and CEO in Blair Wallace.Wallace was most recently a Partner and Portfolio Manager at Tenor Capital Management Company, LP and has a career in structured credit investing, complex solutions and … Read more

Cyber ​​Security 101 | Central Insurance

October is Cyber ​​Security Awareness Month, a national effort to raise awareness about the importance of cybersecurity and ensure Americans have access to the resources they need to be safer online. Whether you’re a small business engaged in online marketing or just using services like Instagram and Facebook in your personal life, cybersecurity is relevant … Read more

Financial interest coverage: an important component for companies with international exposures

“Over the past five to 10 years, financial interest coverage has been offered in the market more regularly,” said Elliott Foster (pictured), managing counsel at Travelers, which automatically includes financial interest coverage through the Global Companion Plus+ product for US companies with foreign exposures. “Coverage was created in response to a gap created by other … Read more

Florida market ‘unsustainable’, reinsurance rates soar in 2022: Citizens CEO

The Florida homeowners insurance market is facing “unsustainable” conditions and the consistency of the loss in the market is considered “staggering,” according to CEO of Florida’s Citizens Property Insurance Corporation Barry Gilway.Florida Citizens CEO Gilway spoke before a Florida House subcommittee on insurance and banking yesterday that the first indications are that reinsurance rates in … Read more

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