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Pangaea Re sidecar sponsor TransRe is expected to take a roughly half share of Hurricane Matthew losses borne by its parent company Alleghany, which the company said should be less than $75mn.
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PCS has reduced its estimate of insured losses from the Fort McMurray wildfires to C$3.98bn ($2.96bn), from C$4.67bn in September, affirming the view that claims from the event are likely to be at the lower end of initial forecasts.
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The California Earthquake Authority (CEA) has increased the size for its latest Ursa Re cat bond up to as high as $500mn, despite pricing moving towards the upper end of its initial wide-ranging target, sources told Trading Risk.
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AM Best affirmed its A- rating on Kelvin Re as it said the Credit Suisse-managed carrier has written more than $150mn of gross premium during 2016.
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Swiss Re-backed Microinsurance Catastrophe Risk Organization (Micro) has launched a parametric catastrophe insurance policy in Guatemala designed for small businesses and farmers.
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The chancellor's Autumn Statement will make reference to progress on the initiatives to establish an insurance-linked securities centre in London, according to sources.
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AM Best has dropped plans to incorporate 1 in 500 year and 1 in 1000 year risk analysis into its model for assessing a reinsurer's Capital Adequacy Ratio (BCAR) score.
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CoreLogic said residential damages from a single powerful earthquake along California's San Andreas fault could cause as much as double previous estimates.
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Vietnamese officials considered how the country could set up financial strategies to respond to natural catastrophes at a World Bank workshop in Hanoi on Tuesday.
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The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hail last Friday in the country's Mildura agricultural area, with insured losses standing at more than $20mn.
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The African Risk Capacity (ARC) is to pay out $8.1mn to Malawi following a drought this year, after reworking its parametric policy to account for a change in farming practices.
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Senior adviser to the cabinet office Michael Wade urged Chinese officials to consider London as a destination to complete future cat bonds, while Guernsey is also targeting Asian business.
