Reinsurance News
pandemic risk
Extreme pandemic could exhaust 12% of US life capital: S&P
17th February 2020
Analysts at S&P Global Ratings have estimated that an extreme pandemic event could result in $52 billion of excess net mortality claims for US life re/insurers, or about 12% of aggregate industry capital. This hypothetical stress test was conducted against the backdrop of the coronavirus outbreak, which has infected 71,442 people ... Read the full article
Coronavirus a “wakeup call for insurers”, says Aon’s Dutkiewicz
11th February 2020
Colin Dutkiewicz, Head of Life at Aon’s Reinsurance Solutions business, has said that the ongoing coronavirus outbreak should serve as a “wakeup call for insurers” to further analyse their exposure to epidemics and pandemics. With analysts now suggesting that the coronavirus could represent a significant risk for re/insurers across the globe, ... Read the full article
Hannover Re exposure to coronavirus not significant, says CEO
5th February 2020
Hannover Re does not anticipate any significant exposure to losses that could stem from the ongoing coronavirus outbreak, according to its Chief Executive Officer (CEO), Jean-Jacques Henchoz. While it remains too early to assess losses, Hannover Re’s management is confident that the company has limited exposure to pandemic risk in Asia, ... Read the full article
Coronavirus poses limited threat to Chinese insurers: Moody’s
4th February 2020
Analysts at Moody’s Investors Service believe that the ongoing coronavirus outbreak poses only a limited threat to the Chinese insurance sector, with disruption likely to stem mostly from broader economic impacts. The firm noted that Hubei, the province at the centre of the outbreak, only accounted for around 4% of domestic ... Read the full article
Coronavirus risk highest for mortality-focused US life insurers: Fitch
3rd February 2020
Life insurers with high exposure to mortality risk could face the most potential credit risk if the spread of the coronavirus in the US continues to accelerate, according to Fitch Ratings. However, the impact on life insurers would vary based on product mix, use of reinsurance and potential geographic concentrations, Fitch ... Read the full article
Reinsurers face highest risks from coronavirus, says A.M. Best
31st January 2020
Analysts at AM Best believe that reinsurers could face higher levels of risk related to the ongoing Coronavirus outbreak than their primary life & health counterparts. The rating agency noted that reinsurers typically have higher exposures to mortality and morbidity risks, and may have as much as 40% or more of ... Read the full article
Coronavirus a low-risk threat for AIG, says Credit Suisse
29th January 2020
The potential impact of the Coronavirus on insurer AIG appears to be fairly low despite the company’s considerable exposure to pandemic risk and its high share in the Chinese P&C market, according to Credit Suisse. However, analysts cautioned that they were “not highly confident” in their assessment, given AIG’s evolving global ... Read the full article
Too early to understand China coronavirus threat, Swiss Re CEO explains
24th January 2020
The emerging outbreak of a previously unknown coronavirus in China is still in its early stages and data remains scarce making it challenging to understand how large a threat the virus could be, Swiss Re CEO Christian Mumenthaler explained recently. Speaking during an interview with Bloomberg TV at the World Economic ... Read the full article
Top reinsurers’ exposure to Wuhan coronavirus, Asia pandemic analysed
23rd January 2020
With official numbers of the Wuhan coronavirus currently standing at 585 confirmed infected and 17 dead, Morgan Stanley analysts have detailed the extent to which the top four European global reinsurers are exposed to pandemic risk in Asia. As of 2018, Munich Re wrote €2.3 billion in premiums in Asia via ... Read the full article
World Bank eyes updated pandemic risk transfer facility for 2020
10th April 2019
The World Bank Group has reached out to catastrophe risk modelling firms as it prepares to begin development on the next phase of its Pandemic Emergency Financing Facility, PEF 2.0. In response to the high financial, social and economic loss driven by outbreaks of infectious disease, such as the 2014 Ebola ... Read the full article
Munich Re and Marsh collaborate on pandemic risk solution
18th May 2018
Munich Re and re/insurance broker Marsh have collaborated on a new pandemic risk insurance solution in conjunction with health analytics firm Metabiota, which aims to protect U.S-based businesses from outbreaks of infectious disease. The new solution, called PathogenRX, will use triggers like Metabiota’s new Pathogen Sentiment Index to help businesses more ... Read the full article
Investment risks and pandemics are the biggest threats to Swiss Re: CEO
15th January 2018
Investment related risks are the biggest threat to reinsurance firm Swiss Re's profitability, closely followed by the risks posed by major pandemic outbreaks, according to Christian Mumenthaler, Chief Executive Officer. In a recent interview with NZZ am Sonntag, the CEO of reinsurance giant Swiss Re explained that the ... Read the full article
ARC looks to expand remit with launch of outbreak & epidemic cover
22nd September 2017
The African Risk Capacity (ARC) has announced the launch of an outbreak & epidemic (O&E) solution for African governments, in an effort to finance the protection against, and control of, diseases. ARC provides parametric sovereign disaster risk insurance and other support to African nations, and is looking to expand its offerings ... Read the full article
Reinsurance industry helps World Bank secure $500m pandemic facility backing
29th June 2017
The global reinsurance industry has collaborated with and assisted the World Bank's launch of specialist bonds to support the $500 million Pandemic Emergency Financing Facility (PEF), which is designed to rapidly disburse funds to eligible countries facing a major disease outbreak. In response to the high financial, social and economic loss driven ... Read the full article
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