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 […]

ILW payouts on the cards after typhoon Jebi loss estimate rises


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 […]

ILW triggers on watch for typhoon Jebi, hurricane Michael & wildfire losses


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 […]

Jebi officially the largest Japan typhoon insured loss ever


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 […]