Синоптики предупредили москвичей об аномально холодной погоде

ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ

В конце февраля москвичей ожидает погода, близкая к аномальной для такого времени года. Этой зимой температура воздуха еще не опускалась ниже минус 20 градусов

На следующей неделе погода в Москве приблизится к «аномально холодной», сообщила РБК главный специалист Гидрометцентра Марина Макарова.

Mexico 7.2 quake rattles new World Bank cat bond

ORIGINAL PUBLICATION HERE

A magnitude 7.2 earthquake that struck southwest Mexico in the Oaxaca region, causing buildings to sway in the capital Mexico City over 200 miles away, has hit directly within the parametric trigger zones for the recently issued World Bank supported IBRD CAR 118-119 catastrophe bond, but the magnitude is unlikely to be high enough to trigger the bonds.

It looks like the new Mexico earthquake cat bond has had a near miss, as this 7.2 magnitude quake appears unlikely to be strong enough to activate the parametric trigger for the notes (this is based on our preliminary analysis, not an official determination).

Argo strategically shifting to originate risk for third-parties: CEO

ORIGINAL PUBLICATION HERE

Argo Group is making a strategic shift to originate more risks for investors, as the company finds increasing interest from third-parties in accessing the returns of the re/insurers underwriting performance, according to CEO Mark E. Watson III.

It’s a sign of the continuing development of Argo’s strategy, as its specialty insurance and reinsurance platform has expanded with the acquisition of Ariel Re just over a year ago, as well as a reflection of developing business practices in the reinsurance space.

Putting your underwriting abilities to work, leveraging your intellectual capital or risk expertise, in order to share returns of portfolios of underwritten risks with third-parties that often have a lower cost-of-capital to your own, is becoming a core strategic mandate for many re/insurers.

AXIS CEO: Third party capital means an ‘opportunity’ to offer cheaper reinsurance

ORIGINAL PUBLICATION HERE

Third party capital can help reinsurers lower the cost of capital and therefore coverage and this should be seen as an attractive business opportunity, according to AXIS Capital CEO Albert Benchimol.

Third party capital is here to stay, it has an appetite for risk and it wants to participate in the risk transfer universe, Benchimol said at a Feb. 15 presentation at the Bank of America Merrill Lynch Insurance Conference.

Brit’s Sussex Capital raised $102.5m for collateralised reinsurance in 2018

ORIGINAL PUBLICATION HERE

Global specialty insurance and reinsurance company Brit Ltd’s new open-ended collateralised reinsurance fund vehicle raised $102.5 million from investors for the 2018 underwriting year, which the firm called “the next step in Brit’s strategy to build long term relationships with the capital markets.”

Sussex Capital, an open-ended ILS fund that will underwrite its collateralised reinsurance business through special purpose insurance vehicle Sussex Re, will both write third-party business as well as take a share of risks that Brit underwrites already.

XL uses New Ocean & new quota share in alternative capital expansion

ORIGINAL PUBLICATION HERE

As insurance and reinsurance specialist XL Group increased its use of alternative capital to $3 billion around the renewals, it did so by leveraging its ILS fund manager New Ocean Capital Management, as well as through the addition of a new property quota share deal with third-party capital partners.

That wasn’t all that XL Group, parent to the XL Catlin insurance and reinsurance brand, did in the fourth-quarter and at the renewals, to increase its use of alternative reinsurance capital.

As we wrote recently here, XL’s increased use of alternative capital has been part of a strategy to use the most efficient reinsurance capital on the back-end of its business model, to support expansion of the front-end insurance and reinsurance underwriting business.

Cyber risk management not keeping up with threat

ORIGINAL PUBLICATION HERE

Despite seeing cybersecurity as a top risk management priority, a survey finds out that only few senior executives believe in their organization’s ability to mitigate and respond to a cyber event.

In a global survey of more than 1,300 senior executives, two-thirds ranked cybersecurity among their organizations’ top five risk management priorities – approximately double the response to a similar question asked in 2016.

Argo seeks control of Italy’s Ariscom for EUR 20mn

ORIGINAL PUBLICATION HERE

Argo Group has received regulatory approval to take control of Rome-based insurer Ariscom Compagnia di Assicurazioni SpA out of state administration for EUR20mn ($24.8mn).

Italian industry regulator Ivass announced the approval today in Rome, following a 9 February shareholders’ meeting that backed the acquisition. Ivass indicated that it is moving to end its control of the multi-line insurance carrier, which began in July.

Hackers stole $6 million from Russian bank via SWIFT system: central bank

ORIGINAL PUBLICATION HERE

MAGNITOGORSK, Russia (Reuters) – Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday.

The disclosure, buried at the bottom of a central bank report on digital thefts in the Russian banking sector, is the latest in a string of attempted and successful cyber heists using fraudulent wire-transfer requests.

The central bank said it had been sent information about “one successful attack on the work place of a SWIFT system operator.”

What Global Insurance Giants Are Searching for in Israel

ORIGINAL PUBLICATION HERE

Insurers are scrambling to reinvent themselves with help from Israeli start-ups in the insurtech market, that has tripled over the past four years.

Large insurance companies from around the world are increasingly popping up as visitors to the Israeli tech ecosystem. Aviva plc, a huge UK-based insurer recently brought a delegation of top executives to meet with local insurtech, fintech, and cybersecurity startups. AmTrust Financial Services, a Nasdaq listed multinational property and casualty insurer ($2.5B market cap) earlier in February sent its COO, CIO, and CMO to sign agreements with three Israeli startups that could help it integrate AI into its services. Last November Japanese insurance giant Sompo (founded in 1887) opened an innovation hub in Tel Aviv.