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RMS Estimates that Total Insured Losses from the 2020 Western U.S. Wildfires Will Be Between US$7bn – US$13bn Sponsored Content By Newswire | December 17, 2020
Latest RMS estimate includes loss from new fires that started and spread following the previous RMS loss estimate in September
Newark, CA – December 15, 2020 – RMS, the world’s leading catastrophe risk solutions company, estimates insured losses from the record-breaking western U.S. wildfires this season will be between US$7.0 and US$13.0 billion. These losses reflect estimates as of December 1, 2020 and represent an update from the previously estimated losses from fires up to September 20, 2020. The ignition of the highly damaging Glass Fire and additional spread of the CZU and LNU Complex Fires represent the most notable activity in California since September 20.
RMS Collaborates with Willis Re and Securian Financial on Launching the First Indemnity-Based Mortality Catastrophe Bond Sponsored Content By Newswire | December 15, 2020
London, UK – 23 Nov, 2020 – RMS, the world’s leading catastrophe risk modeling company, collaborated with Willis Re Securities and Securian Financial to launch the new La Vie Re Limited (Series 2020-1) mortality catastrophe bond providing US$100m of reinsurance protection for Minnesota Life Insurance Company, a Securian Financial affiliate.
RMS acted as the modeling agent on the cat bond transaction, providing a view of the risk covered by the bond to investors. RMS used its suite of excess mortality and morbidity models, covering infectious disease pandemics, terrorism, earthquakes, and other perils, including a contribution to the expected loss from the COVID-19 pandemic. Covering the U.S., this is the first indemnity 144A excess mortality bond that mod