Property catastrophe

Future state-backed nat cat pools must better harness free market solutions: Enoizi

The viability of state pooling schemes for losses resulting from large natural catastrophe events is broadly dependent on creating an environment that allows the free market to manage the risk, Guy Carpenter’s Julian Enoizi has said.

IGI’s Loucaides: Don’t “go off a cliff” with property rates amid lower H2 cat activity

Reinsurers should not “go off a cliff” with property rates at 1.1, IGI’s Andreas Loucaides has argued, with the executive underlining that a relatively benign Atlantic hurricane season to date should not lead to a significant reduction in prices.

Disrupting the flow of earnings risk losses

Maurizio Savina, senior director – product management, insurance solutions at Moody’s, on how modelling can help insurers get on top of earnings perils.

Favourable property market to continue amid flight to quality

Everest’s global head of property and deputy chief underwriting officer for the reinsurance division Sharry Tibbitt explains the company’s outlook on property renewals.

Atlantic storm lull ends as Francine forms

Tropical Storm Francine has been named as the sixth storm of the 2024 Atlantic hurricane season, with current forecasts suggesting a Category 1 Gulf Coast landfall later this week.

Reducing friction in reinsurance recoveries with satellite data

Rapid access to accurate hazard and damage data is essential to a smooth recovery process, believes ICEYE’s Rupert Bidwell.

Munich Re’s Golling: (Re)insurers have tolerated soft casualty market for too long

Munich Re management board member Stefan Golling issued a call to action on casualty pricing as he addressed the media at this year’s Rendez-Vous in Monte Carlo, warning that rate increases to date have failed to keep pace with loss trends.

Aon partners with ICEYE to access global flood and US wildfire data

Aon and ICEYE have expanded their partnership with the broking giant licensing the satellite data firm’s global flood insights and US wildfire data.

Reinsurers may give up rate for retentions in cat but buyers face casualty challenges

This year’s Rendez-Vous de Septembre will see a focus on both core reinsurance lines amid softening pressures in property cat – especially if the hurricane season continues to defy predictions – and mounting concerns in casualty.

What happens at 1.1 if the wind doesn’t blow?

There is a degree of journalistic licence in our headline above – the wind has already blown, of course, with Hurricane Beryl becoming the earliest calendar year Category 5 Atlantic hurricane on record.

Reinsurers increase appetite for structured solutions amid growth phase

Reinsurers are showing an increasing willingness to offer structured multi-year, multi-peril solutions to preferred clients as they seek to grow during the positive phase of the cycle, according to Guy Carpenter’s CEO of EMEA and global capital solutions, Laurent Rousseau.

Public-private partnerships in the European insurance industry

Guy Carpenter’s Europe CEO Julian Enoizi examines the increasing importance of public-private partnerships in the region.

Why Europe still needs to get a grip on secondary perils

The cost of European secondary perils is still not fully reflected in reinsurance pricing, says Chris Killourhy, managing director of QBE Reinsurance. Here, he takes a look at what this means for the market and what QBE Re is doing to respond to the situation.

Extreme weather and cyber on (re)insurers’ radar in summer 2024

Moody’s Ratings’ Helena Kingsley-Tomkins on the need to respond to recent loss events.

Scor’s Brohmi: Non-peak perils are driving global insurance losses

Maria Brohmi, head of P&C for Western Europe, Middle East and Africa at Scor, answers questions on how modelling of non-peak perils needs to evolve.

David Howden warns reinsurers on irrelevance danger following the radical 2023-24 cat loss shift

Howden Group CEO and co-founder David Howden has warned the dramatic shift in cat loss burden away from global reinsurers to its clients which began in 2023 may result in the sector losing its relevance.

Industry should now expect average annual cat losses of $151bn: Verisk

Rapid exposure growth and inflationary pressures mean insurers should now expect average annual catastrophe losses of $151bn, according to the latest Verisk Extreme Event Solutions study.

S&P: Global reinsurers to deploy more capital to nat cat amid strong expected returns

S&P Global Ratings expects global reinsurers to “seize the opportunity” to deploy more capital to nat cat risk over the next two years – albeit within strict limits – after most of the top 19 players took on more exposure in 2023 and 2024 following the market shift on pricing, terms and conditions.

Shanshan tracks towards northeast Japan as tropical depression

Typhoon Shanshan continued to track northeast across Japan over the weekend, reducing in strength after wreaking significant damage in southern parts of the country last week.

iA Financial Group facing Quebec flood losses of less than C$10mn

Canadian carrier iA Financial Group has told investors it expects the heavy rainfalls that occurred on 9 and 10 August in Quebec will impact its Q3 2024 results by less than C$10mn ($7mn) after tax and net of reinsurance.

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