Hong Kong floods may impact reinsurance renewals  – Insurance News

Hong Kong flooding that’s been described as a 1-in-500-year event may have implications for the upcoming reinsurance renewals, AM Best says.  Remnants of Typhoon Haikui bought torrential rain to Hong Kong and the Pearl River Delta area including China’s Guangdong Province and Macau earlier this month.  Hong Kong’s weather station at the observatory headquarters recorded … Read more

‘No lasting impact’: cyber events don’t dictate stock market  – Insurance News

Insurance-linked securities (ILS) are a key source of potential new cyber reinsurance capacity, and issuers should put aside concern over a “perceived correlation” between cyber events and stock market performance, Guy Carpenter says.  A hurdle to attracting new cyber market capacity has been the belief that cyber risk correlates to financial market risk, yet the … Read more