ORIGINAL PUBLICATION HERE. PDF VERSION HERE Excellent management of cyclone Fani by the eastern Indian state of Odisha has become a text book example of how to manage natural catastrophes although the government is now faced with the task of post-disaster reconstruction. With low insurance penetration, the question of using capital markets as a means […]

FULL ORIGINAL PUBLICATION HERE The decision as to whether Peru’s earthquake exposed IBRD CAR 120 catastrophe bond will payout a portion of the investor principal is expected within 20 days of the magnitude 8.0 earthquake that struck Peru on Sunday 26th May, according to the country’s Finance Minister. Carlos Oliva, the Minister for Finance and the Economy […]

FULL ORIGINAL PUBLICATION HERE A magnitude 8.0 earthquake that struck Peru yesterday, Sunday 26th May, could trigger the IBRD CAR 120 catastrophe bond, which was part of the Pacific Alliance issuance, with the available data suggesting that a 30% loss of principal should be expected by investors in the cat bond. The magnitude 8.0 earthquake struck Peru […]

ORIGINAL PUBLICATION HERE Mitsui Sumitomo Insurance has raised its estimate of losses from Japanese typhoons that struck in 2018, which has driven the qualifying aggregate loss amount under the terms of its $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1) over the exhaustion point. As a result, it’s now expected that the $200 million of Akibare […]

ORIGINAL PUBLICATION HERE Typhoon Jebi has already become the loss creep story of 2019 so far, but it’s set to become an even higher profile case as a rising industry loss estimate for the storm means it’s now expected that a number of industry loss warranty (ILW) contracts will payout. We understand that one of […]

ORIGINAL PUBLICATION HERE The industry loss warranty (ILW) market is waiting nervously for confirmed estimates of industry losses to emerge for a number of recent catastrophe events around the globe, with certain trigger points on-watch and further ILW losses possible in the coming weeks. The ILW market, which largely provides retrocessional forms of reinsurance that trigger […]

ORIGINAL PUBLICATION HERE Typhoon Jebi has now officially become the largest Japan typhoon related insurance and reinsurance market loss on record, as the amount of insured claims paid for the storm have now reached almost $5.2 billion. The latest data from the General Insurance Association of Japan (GIAJ) shows that typhoon Jebi has now resulted […]

ORIGINAL PUBLICATION HERE A number of industry-loss warranty (ILW) contracts providing retrocessional reinsurance are set to pay out after the latest updates to third-party data providers estimates of insurance industry losses caused by last year’s hurricane Irma. At the beginning of July the industry loss estimate for hurricane Irma passed another key ILW trigger point […]

ORIGINAL PUBLICATION HERE Insurance claims due to the impact of hurricane Irma are rising above $10.2 billion, with the total reported by the regulator in Florida having now neared $8 billion, while a French insurance association reports claims in the Caribbean are now expected to reach $2.26 billion. Other industry estimates of insurance and reinsurance […]

ORIGINAL PUBLICATION HERE (Reuters) — Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record for insurance losses from natural disasters is nonetheless clearing a […]