Your weekly re/insurance round-up, ending June 9th 2023

With the 2023 Atlantic hurricane season now underway, nat cats and climate-related risks were in focus.?

This included?Guy Carpenter's launch of?a new re/insurance structure?designed to address climate risk at scale.

In an interview with Moody's RMS' Jeff Waters, the?state of the ENSO and?sea surface temperatures were discussed.

We also spoke with?Peter Lacovara of Floodbaseabout the flood insurance protection gap.?

Further,?Matt McMullin of Chubb?explained how the evolution of technology is key towards a net zero economy.

Gallagher Re?released a report on the wildfire risk across the U.S.,while?Lloyd's confirmed?that catastrophe loss exposure remains a key focus for the marketplace.?

Additionally,?AIG and Farmers?joined others in pulling back from climate and cat exposed property risks.

In light of the?Clop ransomware attack, cyber was also a hot topic this week.?Moody's highlighted?the important role reinsurance plays in this market, as?Beazley's?Paul Bantick?commented on the rise of ransomware attacks.?

In other news, it was reported that?Hamilton?is discussing its options?with potential advisers, including a private sale and an IPO.?

Elsewhere,?China launched?an international board for reinsurance trading in Shanghai.?

Howden Tiger's?David Flandro?noted early signs of recovery in the market, while?analysts reported?a positive turn of events for the Florida reinsurance market.

The RAA?reported that?a group of 17 U. S. P&C reinsurers wrote $27.3bn of net premiums during Q1.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!