Reinsurance News
climate risk
Climate risk related insurance and reinsurance news and analysis.
The impacts of climate related risks are a key topic for the insurance and reinsurance industry, while providing risk transfer solutions to hedge against and protect from climate risk related losses is an important area of innovation for the market.
Monetary Authority of Singapore promotes sustainability and technology in re/insurance
23rd March 2018
In a recent speech at the General Insurance Association of Singapore Annual General Meeting Luncheon, Daniel Wang, Executive Director of the Monetary Authority of Singapore (MAS) suggested that MAS will be working closely with re/insurers to promote sustainability and technological innovation in the industry. According to Wang, MAS will encourage re/insurers ... Read the full article
Climate change has a net negative credit impact on P&C industry: Moody’s
16th March 2018
Climate change creates significant challenges for the property and casualty (P&C) re/insurance industry, posing risk management and financial risks which account for a net negative credit impact on the sector, according to a recent Moody's report. "The effects of climate change on the frequency and severity of catastrophic events are difficult ... Read the full article
Willis launches re/insurance industry’s first Global Ecosystem Resilience Facility
9th March 2018
Willis Towers Watson has launched its newly developed Global Ecosystem Resilience Facility (GERF), the first global insurance facility to support the resilience of ecosystems with innovative finance and risk management solutions. Launched by Chief Executive Officer (CEO) John Haley at the Economist’s World Ocean Summit in Mexico, the GERF will provide ... Read the full article
Nephila looks to expand weather risk business with Nephila Climate launch
30th January 2018
Nephila Holdings Ltd, the parent company of the world's largest insurance and reinsurance-linked fund manager, Nephila Capital Ltd, has expanded its weather and ESG-driven operations with the launch of Nephila Climate (NCx), a new specialty unit dedicated to weather risk transfer and climate resilience solutions. Nephila has announced that head of its ... Read the full article
2017 was the costliest and warmest year on record for U.S. climate risk
9th January 2018
With 16 climate disasters each with losses at over $1 billion, total economic losses for U.S. climate disasters reached $306 billion, making 2017 both the costliest and warmest year on U.S. records, according to the U.S. Department of Commerce National Oceanic and Atmospheric Administration end of year recap. The western U.S. ... Read the full article
CFAN predicts 80% chance of above average 2018 hurricane season
20th December 2017
Scientists at Climate Forecast Applications Network (CFAN) have forecast an 80% probability of an above normal 2018 Atlantic hurricane season after claiming to have made a breakthrough in understanding the long-range impact of global climate dynamics on Atlantic hurricane activity. Their new model predicts a total Accumulated Cyclone Energy (ACE) of 132 ... Read the full article
InsuResilience Global Partnership launches at 2017 UN Climate Conference
16th November 2017
An international initiative with the goal to provide insurance to 400 more million poor and vulnerable people by 2020, the InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions, was launched today at the 2017 UN Climate Conference in Bonn. Germany launched the Global Partnership with the Ethiopian Chair of ... Read the full article
Cedent & Nephila Capital target climate risk transfer
1st November 2017
Cedent Ltd., a global insurance industry-focused investment management firm, has launched a corporate finance advisory entity with a focus on climate risk that's backed with $500 million of capacity from Nephila Capital Ltd., the world's largest insurance-linked securities (ILS) manager. The new corporate finance advisory joint-venture, Resilience Economics Ltd., will use ... Read the full article
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