Prudential Retirement and Pension Insurance Corporation (PIC) have launched a new process to expedite longevity reinsurance transactions for smaller pension buy-ins and buy-outs.
Two tranches of Nationwide Mutual's Caelus cat bonds are expected to be nearly wiped out by 2017-18 losses, following an investor update which put the insurer's Winter Storm Riley claims at $90mn-$130mn, Trading Risk can reveal.
The Corporation of Lloyd's has denied claims that it was asked to reduce its level of cat risk by the Prudential Regulation Authority or ratings agencies, according to sister publication The Insurance Insider.
Confirmed Lassa fever deaths have risen from 72 to 95 in Nigeria, the World Health Organization (WHO) said, as the figure remains below the level required to trigger a payout under the World Bank's pandemic cat bond.
