Systemic cyber risk is being discussed as a growing concern for insurers as technology advances and interconnectivity increases, but how is this risk defined? That may be one of its gray areas. “As you go through different owners of risk …
Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year – an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included the total of …
A hedge fund that last year delivered its best result ever thanks to catastrophe bonds is now scaling back its position, based on a bet that the market is headed for a rough patch. Tenax Capital, which has a €100 …
The United States and the Philippines are the countries hit hardest by climate-driven extreme weather, measured as a percentage of their economies, according to a report released Wednesday by global reinsurance giant Swiss Re. The US currently experiences the worst …
Swiss Re is among a growing list of reinsurers to drop its demand that a near $10 billion battle with aircraft leasing companies, seeking payouts for more than 200 jets stuck in Russia, should be heard in Moscow, court filings …
The insurance industry is grappling with a new kind of weather risk that’s increasingly driving its biggest loss category. While no single weather event caused more than $10 billion in losses for insurers last year, there were 37 thunderstorms that …
For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year. The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds managed by firms including Tenax Capital, …
Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, an improvement from 2023, a report by Swiss Re Institute projects both 2024 …
Swiss Re has purchased the cyber market’s first retrocession industry loss warranty (ILW), brokered by Gallagher Re and supported by a number of specialist reinsurers. Swiss Re secured $50 million of catastrophic US cyber insurance event protection, including cover against …
Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural catastrophe claims surpassing $100 billion, according to Swiss Re Institute in a new report. As the US is particularly prone …
