Risk losses

Everest Re said it could bear a net fourth quarter loss of between $75mn and $200mn from Hurricane Matthew, based on a modelled industry loss of $3bn-$9bn, which it could absorb within quarterly earnings

Australian (re)insurer QBE recouped $131mn of catastrophe and large risk loss claims under its aggregate reinsurance cover in the first half of 2016, down from $213mn in the first half of 2015.

A pilot disaster insurance scheme in the Pacific will be continued and rolled into a broader Pacific Resilience Program (PREP), the World Bank said today (22 June).

Heritage Insurance Holdings has appointed Steven Martindale as chief financial officer (CFO) to replace Stephen Rohde, who retires next month.

Catastrophe data specialist Perils has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, the firm announced today (28 April).

Credit Suisse is making progress with its plans to issue an operational risk insurance securitisation after a major single investor said it would take at least CHF100mn ($105mn) of the transaction, Trading Risk understands.

Global non-marine retro prices experienced year-on-year catastrophe reductions of around 10 percent at 1 April, in line with the January renewals, according to Willis Re

Amlin earned £16.5mn ($23.5mn) of fee income from Leadenhall Capital Partners in 2015, up from £2.4mn in the prior year before it had consolidated the asset manager onto its balance sheet

Insurance industry thinktank the Geneva Association said that last year's COP21 Paris Climate Conference has opened the doors for innovative insurance solutions covering climate risk in both developed and developing nations.

The US government has committed $30mn to support insurance risk pools in the Pacific, Caribbean and Africa at the COP21 Paris Climate Conference this week.

Amlin recorded £7.6mn in fee income during the first half of 2015 from funds managed by Leadenhall Capital Partners, which became a subsidiary of the group last October.

The ILS market has become increasingly open to participating on deals that transfer catastrophe risk from developing countries at a governmental level.