Posts Tagged ‘Catastrophe’
Here we review the 2015 seasonal predictions for tropical cyclone activity in the Western North Pacific and Atlantic Basins.
Any hurricane can produce wind, surge and inland flood impacts. The severity and scope of impacts is not always consistent with rating on the Saffir-Simpson scale, particularly for surge as we have seen with Katrina (2005) and Sandy (2012).
Hurricane Betsy made landfall on Key Largo with estimated winds of 125 mph (Category 3 hurricane) before entering the Gulf of Mexico in 1965.
Hurricane Audrey made landfall as a Category 4 hurricane on the Saffir-Simpson Scale in 1957.
As with any season, a landfalling hurricane can be a serious threat regardless of seasonal outlooks for the Atlantic Basin at large.
Guy Carpenter today released its 2015 Mid-Year Report on the (re)insurance landscape. In addition to providing a brief recap of renewal activity highlighted in their release on July 9, the report assesses key industry trends, including a detailed assessment of mergers and acquisitions activity and highlights other notable themes such as cyber security risk, increased regulation and public-private partnerships.
GC Securities* Completes Catastrophe Bond Panda Re Ltd. Series 2015-1 Notes Benefiting China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Series 2015-1 Class A Principal At-Risk Variable Rate Notes due July 9, 2018, with notional principal of USD 50,000,000, through a newly formed catastrophe bond shelf program, Panda Re Ltd., to benefit the China Property & Casualty Reinsurance Company Ltd. and China Reinsurance (Group) Corporation (collectively “China Re”).
Guy Carpenter today released its July 1 Renewal Briefing that shows price declines have continued to moderate, predominantly on programs covering US wind. Overall pricing was down again at the July renewal across virtually all geographies and lines of business. However, additional limit placed over the past few months is partially responsible for the stabilization of price declines, particularly for US property. Increased demand for reinsurance and expansion of tailored coverage persisted through the July renewal period from previous seasons.
Here are the most recent CAT-i stories covering January through June of 2015.