Insurance Lines Services

PCS Pre–Monte Carlo Briefing

The unofficial start of the January 1, 2015, reinsurance renewal season is almost upon us. In a few days, the global reinsurance industry will descend upon Monte Carlo for the annual ritual of 30-minute meetings in...

First-Half 2014 U.S. Catastrophe Overview

First-half catastrophe losses reached their lowest level since 2010 in the first half of 2014. Property Claim Services ® (PCS ® ), a division of Verisk Analytics, revealed that U.S. catastrophe losses fell just shy of...

Cat Bond Lite Issuance Continues, 40 Percent Use PCS

Cat bond lite issuance has continued into the third quarter. The latest transaction, index-triggered Dodeka III, brings the year’s total to $242 million  according to Artemis.bm . Sponsors have completed ten cat bond...

Already Another Cat Bond Record

The first month of the second quarter just ended, and we’re already looking at record catastrophe bond issuance activity. If all the announced transactions close in May, issuance will reach approximately $4.4 billion,...

Index Triggers: Protect Your Competitive Advantage

Fueled by the abundance of capital in the insurance-linked securities (ILS) market, many sponsors have been able to secure favorable rates through indemnity triggers. As a result, sponsors can bypass the basis risk...

The Next Big Thing in Indemnity Triggers

As the first quarter comes to a close, it’s already clear that the 2014 catastrophe bond issuance year is starting off strong. It looks as though sponsors will complete around $1.2 billion in new transactions,...

Five Index Trigger Benefits for Catastrophe Bond Sponsors

In general, Property Claim Services® (PCS®) doesn’t have an opinion as to which catastrophe bond trigger is best. We believe sponsors should use the structures they feel align best with their risk and capital manageme...

PCS Catastrophe Designation in Indemnity-Triggered Catastrophe Bonds

Indemnity-triggered catastrophe bonds are increasing in popularity, but it’s clear that the insurance-linked securities (ILS) community wants some degree of third-party validation in them. The number of sponsors using...

PCS 2013 Year in Review: 5 Key Insights

Last year could have looked a lot different. Although catastrophe frequency in the United States was slightly above average, insured losses from those events fell just shy of $13 billion, putting the total well below...

PCS 2013 Catastrophe Bond Market Update: Trend Tracking

The growth and maturation of the catastrophe bond market in 2013 provide a sense of its direction in 2014. Rather than continued issuance increases for common risks (such as U.S. wind), it appears that the market has...