Keyword
Puerto Rico
Karen Clark & Company estimates insured losses from Hurricane Maria at US$30 billion
September 29, 2017 by Canadian UnderwriterInsured losses from Hurricane Maria will total almost US$30 billion, according to a flash estimate from catastrophe risk management firm Karen Clark & Company (KCC). The majority of losses – US$28.35 billion – will be from Puerto Rico, KCC said…
Hurricane relief around-the-clock: U.S. Department of Defense
September 26, 2017 THE ASSOCIATED PRESSThe U.S. Defense Department was working around the clock to deliver humanitarian assistance to Puerto Rico and the U.S. Virgin Islands, even as the death toll climbed further across the Caribbean after Hurricane Maria. By Monday afternoon, the confirmed toll…
Maria could ‘severely test’ Caribbean insurers’ financial strength: A.M. Best
September 20, 2017 by Canadian UnderwriterHurricane Maria – which was producing winds of about 200 kilometres per hour Wednesday morning on Puerto Rico and predicted to cause about 600 mm of rain in some places – “could result in material insured losses” for Caribbean and…
Global reinsurers’ first-half 2017 results reflect pricing pressure, consolidation expected: Fitch
August 21, 2017 by Canadian UnderwriterGlobal reinsurers’ first half 2017 results provide further evidence of continuing pressure on pricing and earnings, Fitch Ratings said in a report released on Monday. “Intense competition among global reinsurers and the abundance of capital invested in the sector mean…
Cat bond issuance in Q2 reaches US$6.38 billion across 20 transactions, easily surpassing Q2 2014 record of US$4.49 billion: Aon Securities
August 4, 2017 by Canadian UnderwriterCatastrophe bond issuance during the second quarter of 2017 totalled US$6.38 billion across 20 transactions, a new record for quarterly issuance that easily surpassed the previous record of US$4.49 billion set in Q2 2014, Aon Securities said in a new…
Record breaking US$6.3 billion of non-life property cat issuance in Q2 sees ILS reach “critical juncture:” Willis Towers Watson Securities
July 28, 2017 by Canadian UnderwriterNon-life insurance-linked securities (ILS) issuance reached a record breaking US$6.3 billion in Q2 2017, continuing the trend from the first quarter of the year, Willis Towers Watson Securities’ said in its latest ILS Market Update, released on Friday. ILS assets…
Cat bonds with coverage for Canada in the first half of 2017 totalled $2.7 billion: PCS
July 5, 2017 by Canadian UnderwriterSponsors completed six catastrophe bonds with coverage for Canada in the first half of 2017, raising $2.7 billion through transactions that included Canada, Property Claim Services (PCS) said in its PCS H1 2017 Catastrophe Bond Report. The first cat bond,…
The Bitfury Group and Risk Cooperative partner to pioneer blockchain applications in insurance intermediation market
June 19, 2017 by Canadian UnderwriterBlockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in…