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Hurricanes - PowerPoint PPT Presentation

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Hurricanes, Earthquakes, Wind, Rain, Catastrophe Risk Trends in reinsurance, insurance and finance.

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Presentation Transcript
recent catastrophe risk trends

Recent Catastrophe Risk Trends

Presentation by

Claude Penland, Associate of the Casualty Actuarial Society

trends we ll cover
Trends We’ll Cover
  • Government
  • Investment
  • Insurance Linked Securities Issuance
  • Regulation
  • Partnerships
  • New and Updated Models
  • Wrap Up
governments looking at catastrophe risk
Governments looking at Catastrophe Risk
  • Brazil creates Cat Fund
  • India may be considering catastrophe bonds
  • Ethiopia installing more weather stations
  • China
  • Crop insurance in China
  • Public Sector Catastrophe Risk Management
governments continued
Governments, continued
  • NY cat pool thoughts
  • CA tsunami risk
  • CA gas line risk
  • Mozambique weather risk mgmt
  • Asia underinsured for cat risk
catastrophe risk as an investment vehicle
Catastrophe Risk as an Investment Vehicle
  • Cayman Islands leading issuer
  • Atropos has a new European ILS Fund
  • Catco Investment Mgmt formed
  • Horton Point ILS Fund
  • Secquaero Advisors, ILS inv mgr, enters Australia
  • Cat Finance emerging discipline
  • Hurricane Land Risk Options
  • Growing in Middle East
  • May grow in Canada
  • Growing Worldwide
  • Mere thunderstorms now considered in cat bonds
what should be considered when issuing ils
What should be considered when issuing ILS?
  • Identify risk concentrations
  • Quantify the loss
  • Design structure
  • Engage a placement agent or investment banker
  • Engage a risk modeling firm
  • Decide on loss denomination
  • Choose investment vehicle location
  • Review
  • Execute
new cat risk underwriters
New Cat Risk Underwriters
  • Liberty Syndicates
  • Indian Weather Risk Management market expected to rapidly grow
catastrophe risk considered in solvency ii regulations
Catastrophe Risk considered in Solvency II regulations
  • Solv II expects insurers to be prepared for a $50 Billion cat
  • Aon Benfield says II doesn’t acknowledge gains in measurement
  • Mega Broker says Solvency II could actually be catastrophic for the European insurance industry
new cat partnerships
New Cat Partnerships
  • Institute of Cat Risk Mgmt, Nanyang Tech in Singapore and Aon Benfield have a research partnership
  • Global Earthquake Model and OpenGEO partnership
  • Data sharing considered
new or updated models
New or Updated Models
  • Latin American Flood
  • Asian Risk Model
  • Asian Typhoon Model
  • European Cyclone
  • European Wind Risk Model
  • Earthquake hot spots
  • Largest US earthquake simulator planned
  • UK sea level risk
  • US pandemic risk
  • Philippines
additional catastrophe risk background
Additional Catastrophe Risk Background
  • An introduction to Volcanoes and Earthquakes
  • Academic Weather Risk papers
  • Cat Modeling tech
  • Amateur hurricane tracking
final thoughts
Final Thoughts
  • US Government could hurt the ILS market with calls for increased regulation and documentation
  • Should you hire an in-house meteorologist?
  • covers daily catastrophe risk news and trends
  • Thank you!