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Category: Content
Type: Blog Article

Generated 6 days ago

New blog articles detected

  • World Bank rep calls for supervision of index-insurance

    Index-based, or parametric structured insurance solutions, while beneficial and expanding across the world, require greater supervision, according to Lead Insurance Specialist at the World Bank, Craig Thorburn. Insurance industry supervisors, policymakers and insurers from the Asia Pacific region met in Singapore at the 9th Consultative Forum in March, 2017, and debated the challenges of and […]Wo...

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Category: Content
Type: Blog Article

Generated 6 days ago

New blog articles detected

  • Everglades Re II termination notice filed

    An optional termination notice was issued by the Everglades Re II Ltd. (Series 2015-1) catastrophe bond vehicle to its investors this week, confirming that Florida’s Citizens Property Insurance Corporation is redeeming the bond early. Artemis has seen documentation explaining that Florida Citizens has used the approval it received from its Board recently to make an […]Everglades Re II termination ...

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Category: Content
Type: Blog Article

Generated 6 days ago

New blog articles detected

  • Are heads still in the sand on reinsurance pricing?

    Among traditional reinsurance players there still seems to be a tendency to believe that reinsurance pricing will bounce back just as soon as losses normalise, a view held by some of the largest reinsurers. Is this Ostrich syndrome, or wishful thinking? Look back over the last few years and repeatedly companies have stated an expectation […]Are heads still in the sand on reinsurance pricing? was p...

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Category: Content
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Generated 6 days ago

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  • Weather derivatives mooted for Thai futures exchange

    The Stock Exchange of Thailand (SET) is assessing launching weather futures and perhaps other weather derivatives in order to provide weather risk management tools in an exchange traded environment for farmers. According to the Bangkok Post, the Thailand Futures Exchange (TFEX) would be the eventual home of the tradable weather risk contracts. An index based […]Weather derivatives mooted for Thai ...

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Category: Content
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Generated 6 days ago

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  • Chubb’s reinsurance ceded to ABR Re jumps 144% to $280m in 2016

    Primary insurance and reinsurance group Chubb Ltd. dramatically increased its cessions of reinsurance premiums to total-return vehicle ABR Reinsurance Ltd. by 144% in 2016, ceding $288 million during the full-year. ABR Reinsurance Ltd. is Chubb’s captive or self-reinsurance vehicle, which it established in 2015 after an $800 million capital raise as a third-party investor backed, […]Chubb’s reinsu...

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Category: Content
Type: Blog Article

Generated 6 days ago

New blog articles detected

  • Aon Hewitt helps Phoenix unwind its longevity swap

    UK closed life and pension fund consolidator Phoenix Group has unwound its 2014 £900 million longevity swap transaction with the help of Aon Hewitt, shifting to an annuity arrangement which it received beneficial pricing on thanks to having the swap arranged in advance. Aon Hewitt said this is the first unwinding of a longevity swap, which […]Aon Hewitt helps Phoenix unwind its longevity swap was ...

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Generated 6 days ago

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  • ILS market response to Buffalo Re cat bond impressive: McConnell, ICAT

    Artemis recently spoke with Megan McConnell, Active Underwriter at Lloyd’s of London ICAT Syndicates 4242 and 6123, following the successful issuance of its first 144A catastrophe bond, Buffalo Re Ltd. (Series 2017-1). The deal was well received by both existing and new insurance-linked securities (ILS) investors, and enabled the Lloyd’s participant to strengthen relationships and […]ILS market re...

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Category: Content
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Generated 6 days ago

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  • Reinsurers lose 20% of market share to alternatives: Conning

    A new study from Conning found that reinsurance companies are under pressure from all angles alternative, with the capital markets, captives and government-sponsored entities all taking risk that was once their domain. The study looks at how buying trends have shifted in the soft reinsurance market and discusses the dynamics of the last decade. Much […]Reinsurers lose 20% of market share to altern...

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Generated 6 days ago

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  • Leadenhall hires Adrian Mark from RMS as non-life analyst

    Specialist London headquartered insurance and reinsurance linked securities investment management firm Leadenhall Capital Partners has hired Adrian Mark as an Analyst within the ILS managers Non-Life Investments team. Mark has been in the insurance and reinsurance industry since 2008, most recently working as a Product Manager within the risk model development team at RMS. Prior […]Leadenhall hire...

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Category: Content
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Generated 6 days ago

New blog articles detected

  • Blue Capital listed fund to redeem shares, providing liquidity certainty

    The Blue Capital Global Reinsurance Fund, the London and Bermuda stock exchange listed reinsurance linked investment fund managed by the Endurance owned Blue Capital Management, has announced it is to redeem almost $13.14 million of shares from its investors. The board of the Blue Capital Global Reinsurance Fund announced last year that it was set […]Blue Capital listed fund to redeem shares, prov...

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Category: Content
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Generated 1 week ago

New blog articles detected

  • Legal & General targets U.S. longevity risk transfer growth

    UK headquartered insurance group Legal & General is looking to expand its activity in longevity risk transfer, through insurance, reinsurance and longevity swaps, to the United States as it sees an opportunity to grow the business there. Legal & General has been active in the pension fund de-risking and pension risk transfer business for some […]Legal & General targets U.S. longevity risk transfer...

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Generated 1 week ago

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  • CEA ups reinsurance & risk transfer by 15% to $6.33bn at 1/1

    As of the 1st January 2017 the California Earthquake Authority (CEA) increased the amount of reinsurance and risk transfer that it benefits from by another 15% to reach a record high of just under $6.33 billion. The California Earthquake Authority (CEA) has been steadily utilising increasing amounts of risk transfer capacity from both the traditional […]CEA ups reinsurance & risk transfer by 15% t...

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Generated 1 week ago

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  • Aozora Re cat bond grows again to $480m for Sompo

    The Aozora Re Ltd. (Series 2017-1) catastrophe bond issuance, sponsored by Sompo Japan Nipponkoa (SJNK), has increased in size again with the target raised to $480 million and at the same time the pricing lowered to the bottom of already reduced guidance. The 2017 Aozora Re cat bond issue was first marketed to ILS investors […]Aozora Re cat bond grows again to $480m for Sompo was published by: www...

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Generated 1 week ago

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  • Securis the first ILS manager to license RMS Exposure Manager

    Securis Investment Partners has become the first insurance-linked securities (ILS) focused investment manager to license the RMS Exposure Manager solution, the firms have announced. The ILS and reinsurance-linked investment manager has licensed the RMS Exposure Manager, the first solution on the RMS(one) platform, in an effort to streamline and strengthen its portfolio management capabilities. The...

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Generated 1 week ago

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  • Nephila’s Lloyd’s syndicate picks up State National program risks

    Nephila Capital’s syndicate 2357 at Lloyd’s of London began to pick up risks through the State National program business arrangement in 2016, as the largest manager of reinsurance linked assets switched away from one of its collateralised vehicles as the program grew. Before 2016, the world’s largest insurance-linked securities (ILS) fund manager, Nephila Capital, had […]Nephila’s Lloyd’s syndicat...

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Category: Content
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Generated 1 week ago

New blog articles detected

  • Early call for Everglades Re II cat bond approved by Citizens board

    The Board of Florida’s Citizens Property Insurance Corporation has approved the proposal to allow it to call (or redeem) its $300 million Everglades Re II Ltd. (Series 2015-1) catastrophe bond transaction early, so it can return to the market with a clear view of its risk transfer opportunities. A meeting to make the decision on […]Early call for Everglades Re II cat bond approved by Citizens boar...

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Category: Content
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Generated 1 week ago

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  • Allstate’s Sanders Re 2017 cat bond grows to $375m, price drops

    Given catastrophe bond investors strong appetite for new issuance currently it’s no surprise to learn that U.S. primary insurance company Allstate’s new Sanders Re Ltd. (Series 2017-1) catastrophe bond has upsized to $375 million, while the price guidance has been lowered. Every cat bond issued so far this year has resulted in very attractive pricing […]Allstate’s Sanders Re 2017 cat bond grows to...

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Generated 1 week ago

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  • Plenum lifts cat bond fund beyond $150m

    Independent Zurich based insurance-linked securities (ILS) and catastrophe bond fund manager Plenum Investments Ltd. has announced that its flagship fund, the Plenum CAT Bond Fund, has now grown its assets to beyond the $150 million level. While that may not sound like the most assets, in a market characterised by billions these days, Plenum’s cat […]Plenum lifts cat bond fund beyond $150m was pub...

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Generated 1 week ago

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  • Aeolus distributions to Allied World up again in 2016

    Allied World Assurance Company’s (AWAC) relationship with Aeolus Capital Management Ltd. helped the firm offset a decline in operational cash flows in 2016; with distributions from Aeolus increasing to $406 million while the re/insurer’s commitment to the partnership remained relatively flat. Distributions from AWAC’s relationship with reinsurance linked investment and insurance-linked securities ...

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Generated 1 week ago

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  • ADB examines disaster risk financing options for the Philippines

    The Philippines has long been the focus of disaster risk financing and insurance discussions, given its exposure to typhoons, earthquakes, fires, rainfall, floods and drought, and now the Asian Development Bank (ADB) is examining options for disaster insurance facilities. The World Bank has been discussing catastrophe bonds in the Philippines for years now, but with […]ADB examines disaster risk f...

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Generated 3 weeks ago

New blog articles detected

  • Investors seek diversification within alternatives, positive for ILS

    Large and institutional investors, such as pension funds, insurers, family offices and endowments, have increased their allocations to alternatives in 2016 and are seeking diversification within alternatives, which should be positive for insurance-linked securities (ILS) funds. Every report we read these days on investment trends among institutions and the larger investors, points towards an incre...

  • Meteo Protect seeks rapid global weather risk expansion

    Weather risk management, risk transfer, data, pricing, broking and structuring firm Meteo Protect, has launched a new corporate headquarters in Paris to facilitate broad expansion plans across the globe. The broker offers a range of parametric and index-based weather insurance solutions that are underwritten by insurance and reinsurance firms, and likely attractive to ILS funds, […]Meteo Protect s...

  • Brit grows Versutus sidecar to $150m with inclusion of binder risks

    Global specialty insurance and reinsurance firm Brit Ltd. has increased the size of its reinsurance sidecar vehicle Versutus Ltd. to $150 million in order to accommodate coverage for its U.S. property binder insurance risks. Brit renewed Versutus earlier this year at $110 million in size, as its typical quota share reinsurance arrangement with the collateralised […]Brit grows Versutus sidecar to $...

  • AXA expands parametric risk focus. Touffut named CEO of new unit

    Global insurance giant AXA has launched a new unit focused on expanding its development and sales of parametric insurance and risk transfer products, and has named Tanguy Touffut as the units CEO. AXA has named its new parametric insurance unit AXA Global Parametrics, which could cause some confusion with the Global Parametrics venture that is […]AXA expands parametric risk focus. Touffut named CE...

  • Hannover Re generates “attractive margins” from ILS & collateralised

    Global reinsurance firm Hannover Re continued to generate revenues from its activities in the insurance-linked securities (ILS) and collateralised reinsurance market, as its premium volume from that business remained relatively stable in 2016. Hannover Re reports that it generated “attractive margins” from facilitating ILS and collateralised reinsurance in 2016, with its gross premiums written und...

  • Securis special purpose syndicate drives E&S growth for Novae

    Announcing its results today, Novae Group plc explains that its special purpose Lloyd’s of London syndicate 6129, which it launched in partnership with ILS investment manager Securis Investment Partners, has driven significant growth. Novae has now started to term 6129 an SPA (special purpose arrangement), rather than an SPS (special purpose syndicate), which is likely […]Securis special purpose s...

  • Re/insurance to pay $1bn+ severe weather losses in February: Aon

    Insurance and reinsurance markets face over $1 billion of losses due to severe weather around the globe in February 2017, according to the latest monthly update from Aon Benfield’s risk modelling unit Impact Forecasting. As ever, with the continued expansion of insurance-linked securities (ILS) funds into reinsurance and also primary catastrophe exposed insurance markets, the […]Re/insurance to pa...

  • Hurricane Matthew Florida loss hits $1.182 billion, further to rise

    Total insurance claims paid in the state of Florida, due to damage caused by hurricane Matthew, have risen again at the latest calculation, reaching $1.182 billion, and the data suggests there is some way to go before all claims are settled. The Florida Office of Insurance Regulation has provided updates on the volume of claims […]Hurricane Matthew Florida loss hits $1.182 billion, further to rise...

  • Bermuda reinsurance market profitability nears cost-of-capital: Fitch

    The Bermuda reinsurance market has seen its margins drop again, as prices and investment yields remain pressured with profitability now approaching cost-of-capital, according to Fitch Ratings. Reflecting the importance of capital efficiency, and increasing the likelihood that Bermudian re/insurers will become ever more reliant on lower-cost, third-party capital sources, the gap between returns on ...

  • Track record & returns of ILS managers key to investors, says survey

    Responses to a recent survey of investors in the insurance-linked securities (ILS) sector highlight the importance of track record and manager performance when selecting an alternative investment manager, although size and AuM are not deemed as important as you might think. A recent survey that canvassed mostly asset managers, foundations/endowments and pensions funds, but also […]Track record & r...

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Category: Content
Type: Blog Article

Generated 4 weeks ago

New blog articles detected

  • U.S. hurricane tail risk could be greater than averages suggest: JLT Re

    Climate scenarios of the future suggest that Northeast U.S. hurricane tail risk could be higher than the historical averages suggest, according to reinsurance broker JLT Re. The international reinsurance broker says that its research shows that recent landfalling hurricanes in the U.S., and also in Japan, have deviated from historical norms, which magnifies the damage […]U.S. hurricane tail risk c...

  • Winston & Strawn hires ILS experienced lawyer Angus Duncan

    Angus Duncan, an insurance-linked securities (ILS) experienced lawyer, has joined the London office of Winston & Strawn LLP as a partner, bringing experience in catastrophe bonds, reinsurance sidecars and other ILS structures to the firm. Duncan was previously a partner at Cadwalader in the law firms Capital Markets Group, where he had a focus on […]Winston & Strawn hires ILS experienced lawyer An...

  • Lutece Holdings Ltd. ILS fund vehicle to be launched by Erik Manning

    A new insurance-linked securities (ILS) and reinsurance linked investment fund vehicle, named Lutece Holdings Ltd., is being set up and prepared for launch by experienced ILS structuring and broking specialist Erik Manning, Artemis understands. Lutece Holdings Ltd. is a Bermuda based holding company that we’re told will become the fund manager behind a new ILS venture, […]Lutece Holdings Ltd. ILS ...

  • ILS diversification offers real value to investors: Anger, GC Securities

    The diversification benefits of the insurance-linked securities (ILS) space offer real value to the asset classes growing investor base, says GC Securities’ Cory Anger. Speaking to A.M. BestTV at the Artemis ILS NYC 2017 conference held recently in midtown Manhattan, U.S., Cory Anger, Managing Director and Head of ILS Structuring at GC Securities, highlighted the […]ILS diversification offers real...

  • Citrus Re 2017-1 cat bond price guidance drops on investor demand

    Coupon price guidance for the recently launched $125 million Citrus Re Ltd. (Series 2017-1) catastrophe bond has been lowered significantly, as investor demand for cat bond investments looks set to offer sponsors very attractive conditions. Heritage Property & Casualty Insurance Company is sponsoring its fifth Citrus Re named catastrophe bond issuance with this deal that […]Citrus Re 2017-1 cat bo...

  • Board changes at Markel CATCo reinsurance funds

    Reinsurance and retrocession linked investment manager Markel CATCo Investment Management has announced some changes to its Boards, with Nigel Barton set to become Chairman of its main investment fund and segregated accounts vehicle. Nigel Barton had been the Chairman and non-executive director of Markel CATCo’s flagship London and Bermuda-listed retrocessional reinsurance investment fund, the CAT...

  • Man Group benefits from Nephila Capital stake in 2016

    Man Group benefited from its 18.75% stake in the world’s largest insurance-linked securities (ILS) investment manager Nephila Capital in 2016, reporting a slightly higher valuation for its investment at the end of the year and attractive commission income. Man Group, a global independent alternative investment manager with $80.9 billion of funds under management, acquired a 25% […]Man Group benefi...

  • 2016 U.S. catastrophe frequency the highest since 1980: PCS

    2016 was the most active catastrophe year since 1980 in the U.S. as 43 PCS-designated cat events incurred insured damages of around $21 billion, according to the PCS full-year 2016 Catastrophe Review. In North America it was a fairly busy year in terms of catastrophe events, with PCS designating 43 events in the U.S. and […]2016 U.S. catastrophe frequency the highest since 1980: PCS was published ...

  • Hiscox Re ILS joins Hedge Fund Standards Board as signatory

    Hiscox Re Insurance Linked Strategies Ltd. has become the latest ILS investment fund manager to sign up to the Hedge Fund Standards Board, an organisation that brings hedge fund managers and investors together to set standards for the industry, as a signatory. Hiscox Re Insurance Linked Strategies, which recently grew its ILS assets under management […]Hiscox Re ILS joins Hedge Fund Standards Boar...

  • ILS can add loss-absorbing capacity for cyber risks: Swiss Re

    The development of innovative insurance-linked securities (ILS) vehicles could enable the capital markets to assume some of the world’s growing cyber exposure, according to the first Sigma report from the Swiss Re Institute. The Swiss Re Institute officially launched on March 1st, 2017, with the release of its first Sigma report that explores the complexities […]ILS can add loss-absorbing capacity...

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Generated 1 month ago

New blog articles detected

  • Third Point Re CEO John Berger to step down

    John Berger is to step down from the Chief Executive Officer role at Bermuda based hedge fund backed reinsurance firm Third Point Re from March, with Robert Bredahl the current President and Chief Operating Officer set to succeed him. Third Point Re launched in early 2012 with $750 million of capital and backed by Daniel […]Third Point Re CEO John Berger to step down was published by: www.Artemis....

  • New Ocean delivers increased value to XL & investors as assets rise

    Bermuda domiciled insurance-linked securities (ILS) and reinsurance linked investment manager New Ocean Capital Management Limited (New Ocean) has delivered increased value to its stakeholders and third-party investors over the course of 2016. New Ocean is part owned by global insurance and reinsurance group XL Group Ltd., private equity specialist Stone Point Capital (SPC) and Japanese […]New Oce...

  • Swiss Re binds less renewals as prices decline, business model adjusts

    Reinsurance firm Swiss Re underwrote 18% less renewal business at the 1st January 2017, renewing $8.5 billion of a possible $10.3 billion, as it continues to navigate softening reinsurance markets and looks to protect its profitability. The reinsurer cites “disciplined underwriting” and a reduction in capacity across almost all of its market segments in January, […]Swiss Re binds less renewals as ...

  • Pillar Capital investment value up for Alleghany in Q4, but return drops

    The carrying value of insurance, reinsurance and financial services group Alleghany Corporation and its reinsurer TransRe’s ownership stake and investments in specialist ILS manager Pillar Capital and its ILS funds increased in the last quarter of the year. The value of Alleghany and reinsurance subsidiary TransRe’s investments in ILS manager Pillar Capital and its stake […]Pillar Capital investme...

  • Windstorm Egon insurance industry loss initially put at EUR212m

    European windstorm Egon, which struck France and Germany on the 12th and 13th January 2017 as a severe extra-tropical cyclone, is estimated to have caused an insurance and reinsurance industry loss of EUR 212 million, according to PERILS AG. Windstorm Egon developed as a secondary low, forming out of a large depression named Dieter and […]Windstorm Egon insurance industry loss initially put at EUR...

  • Swiss Re misses Q4 consensus, losses & pricing impact full-year result

    Global reinsurance firm Swiss Re reported its fourth-quarter and full-year 2016 results this morning and impacts from large catastrophe losses, man-made losses and the continued pressure from soft market pricing, all impacted the figures. For Q4 2016 Swiss Re experienced a loss in its Corporate Solutions, due to man-made losses and pricing pressure, and Life […]Swiss Re misses Q4 consensus, losses...

  • Aon and SS&C launch one-stop insurance-linked securities platform

    Aon Insurance Managers, part of global insurance and reinsurance brokerage Aon plc, and SS&C Technologies, the world’s largest fund administrator, have announced the launch of a one-stop platform for the insurance-linked securities (ILS) market. The collaboration sees two of the biggest service providers in the industry teaming up to offer a combined ILS servicing offering […]Aon and SS&C launch o...

  • APEC needs disaster risk financing, ILS should play a role

    The 21 member economies of the Asia-Pacific Economic Cooperation (APEC) are once again meeting this week and disaster risk financing, insurance and reinsurance are hot on the agenda, as leaders in the region recognise the importance of increasing protection. In 2017, APEC countries agreed to put greater emphasis on accelerating solutions to mitigate the impact […]APEC needs disaster risk financing...

  • Nephila & Greenlight Re provide United quota-share reinsurance

    The largest insurance-linked securities (ILS) investment fund manager Nephila Capital participated in a new 20% quota-share reinsurance arrangement for Florida-focused United Insurance Holdings, as the company seeks to reduce its exposure to catastrophe loss events. John Forney, President & CEO of UPC Insurance, explained, during the firms earnings call this week that the new quota-share […]Nephil...

  • IAG claims $106m on aggregate reinsurance, cat budget shrinks for H2

    Losses suffered by Australian insurance group IAG from the recent Sydney area hailstorm event are assumed to be within its catastrophe budget and reinsurance coverage, according to the firm, but already it is running over-budget and has claimed AU$106 million from its aggregate coverage In announcing its results today, IAG said that the hailstorm event […]IAG claims $106m on aggregate reinsurance,...

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Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Excess capacity is driving down insurance rates: Marsh

    Global, average insurance rates during the final quarter of last year continued to decline, driven largely by the presence of an abundance of traditional and alternative re/insurance capacity, according to Marsh. Despite a notable slowdown in recent times the entry of alternative reinsurance capital into the global insurance and reinsurance market continued in the fourth-quarter […]Excess capacity...

  • ILS diversification up in 2016, U.S. wind share reduced: Munich Re

    Insurance-linked securities (ILS) and catastrophe bond issuance diversification was evident throughout 2016, a year that saw the percentage of U.S. wind issuance reduce substantially from the previous year, according to Munich Re. According to reinsurance giant Munich Re’s data ILS issuance in 2016 totalled $6.7 billion, and was driven in part by increased investor and […]ILS diversification up in...

  • Gator Re loss a $29.5m reinsurance recovery for American Strategic

    The recovery and payout made under the triggered Gator Re Ltd. catastrophe bond has been pegged at $29.5 million by the parent company of sponsoring insurer American Strategic Insurance Corp., an increase on its earlier expectations. American Strategic, which is a subsidiary of Progressive, has benefited from a reinsurance recovery under the Gator Re catastrophe […]Gator Re loss a $29.5m reinsuran...

  • Lancashire gets consistent Kinesis contribution, bulks up on reinsurance

    Specialist London and Bermuda insurance and reinsurance underwriters Lancashire Holdings have benefited again from the contribution that third-party reinsurance capital management unit Kinesis Capital Management provided in 2016. Lancashire saw a consistent contribution to its full-year 2016 return on equity (RoE) from Kinesis Capital Management, which added the same amount as last year. In fact [...

  • Spinnaker sources more coastal risk with Orchid deal

    Specialist excess & surplus (E&S) insurer, Orchid Underwriters, LLC is to roll out new admitted coastal residential homeowners’ solutions via a new partnership with program and fronting specialist, Spinnaker Insurance Company. A managing general agent (MGA), Orchid specialises in underwriting E&S insurance focusing on coastal properties, and recently announced the launch of a new set […]Spinnaker ...

  • ILS can and will do so much more, say ILS NYC 2017 speakers

    The influence of the insurance-linked securities (ILS) market and capital market reinsurance capacity on risk transfer market development is set to increase, according to speakers and attendees at Artemis’ first conference in New York recently. When we decided to hold an insurance-linked securities (ILS) market event in New York City, with a focus on specific […]ILS can and will do so much more, s...

  • Fairly active secondary market in Jan 2017, demand overhang remains

    The secondary market for trading in insurance-linked securities (ILS) and catastrophe bonds got off to a relatively active start in January 2017, but appetite remains strong and the demand overhang persists, according to market participants. Secondary cat bond market liquidity has been picking up in recent years, as the number of investors in the space […]Fairly active secondary market in Jan 2017...

  • World Bank & Africa Re to cap weather index-insurance loss ratios

    The World Bank’s Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have teamed up to provide a facility that will help to cap insurers loss ratios on weather index-insurance schemes in Africa. Index-insurance, or index based insurance, typically involves protecting policyholders from weather and climate impacts, using indices based on observed and […]World Bank...

  • Credit Suisse ILS team’s Arcus 1856 adds syndicate manager

    Arcus 1856, the Lloyd’s of London syndicate backed with capital from funds under management by the Credit Suisse insurance and reinsurance linked investment strategies team, has appointed Gary Delaney as syndicate manager. Delaney, who has worked alongside the Lloyd’s of London Performance Management Directorate (PMD) since 2008, joins Arcus Syndicate 1856 immediately and will support […]Credit Su...

  • Jay Nichols to depart AXIS, Ekberg to head reinsurance on interim basis

    Jay Nichols has resigned from his position as CEO of AXIS Re, the reinsurance division of AXIS Capital Holdings Limited, a role that has seen him develop third-party capital strategies at the firm as it adapted to the changing market. Nichols will remain with AXIS in a transitional role until the 31st March, and Jan […]Jay Nichols to depart AXIS, Ekberg to head reinsurance on interim basis was pub...

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Generated 1 month ago

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  • Swiss Re plans parametric quake cover using USGS ShakeMap data

    Global reinsurance giant Swiss Re is planning to launch a new parametric earthquake re/insurance product soon. The new product, dubbed Swiss Re QUAKE, will utilise USGS ShakeMap data to structure triggers that payout rapidly. Parametric insurance and reinsurance protection is becoming increasingly available, with efforts to sell the product seemingly ramping up and new products […]Swiss Re plans p...

  • Canterbury NZ quake loss costs continue to “develop”

    We’ve written before about the lengthening tail on the Canterbury New Zealand earthquake loss from 2010/11, as the event demonstrates that quakes are not always a short-tail catastrophe loss. Latest commentary from local insurers suggests this tail continues to lengthen. The total insurance claims loss neared $19 billion at the end of September 2016, as […]Canterbury NZ quake loss costs continue t...

  • Slower third-party capital growth in reinsurance is healthy: A.M. Best

    The slowdown in growth of third-party or ILS capital in reinsurance is “a healthy response” to the continued pressure faced in the global reinsurance market, according to rating agency A.M. Best. The global reinsurance market continues to face its challenges, with both market and macro-economic forces at work and expected to “mold the landscape” over […]Slower third-party capital growth in reinsur...

  • Billion-dollar insured losses from severe U.S. weather in January: Aon

    Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has said that severe weather and flooding in the U.S. in January is expected to result in an insurance and reinsurance industry loss in the billions of dollars. Impact Forecasting’s latest Global Catastrophe Recap Report (which you can download here) highlights a number […]Billion-dollar insured losses from...

  • Exchange traded weather derivatives still struggling to gain traction

    Exchange traded weather derivatives are still struggling to make headway across Europe, as demand for bourses’ contracts remains limited, suggesting a need for further sector education and innovation. Speaking at a conference as part of Germany’s E-World trade fair, weather risk transfer experts discussed the persistent challenges and struggles facing a successful European energy market […]Exchang...

  • AlphaCat’s contribution to Validus grows again in 2016

    AlphaCat Managers Ltd., the insurance-linked securities (ILS) and third-party capital management arm of Validus Holdings, increased its income contribution to its parent in 2016, despite greater catastrophe losses towards the end of the year. The Bermuda domiciled reinsurer noted a challenging operating landscape in 2016 as competition remained and an abundance of capacity and benign […]AlphaCat’s...

  • Stop waiting for a cyber cat bond: Johansmeyer & Welsh

    It’s time to stop waiting for a cyber catastrophe bond to magically appear in the ILS market and work to make this happen, according to Tom Johansmeyer, Assistant Vice President, PCS Strategy & Development at ISO and Rick Welsh, Chief Executive Officer (CEO) of Sciemus. The pair believe that cyber risk modelling techniques and our understanding […]Stop waiting for a cyber cat bond: Johansmeyer & W...

  • New Head of Broking Strategies to help Aon match capital to client needs

    Aon Benfield, reinsurance broking and capital advisory arm of Aon plc, has appointed Jeremy Goodman as Global Head of Broking Strategies, a role that will see him working to ensure that Aon client needs are matched with the right form of capital. The importance of being a capital advisor, as well as broker, for the […]New Head of Broking Strategies to help Aon match capital to client needs was pub...

  • Blue Capital sees more stable reinsurance pricing at recent renewal

    The Blue Capital Global Reinsurance Fund has revealed more stable reinsurance pricing despite continued market pressures in their January renewals as the company reported on its underwritten portfolio for 2017. The London and Bermuda stock exchange listed reinsurance and insurance linked securities (ILS) investment fund, which is managed by Blue Capital Management the third-party capital […]Blue C...

  • Mt. Logan Re swells 9% in 2016, cat losses reduce Everest’s profit share

    Mt. Logan Re, the third-party capital backed collateralised reinsurance sidecar vehicle operated by Bermudian re/insurer Everest Re, has grown by approximately 9% during 2016, emerging for the 1st January 2017 renewals with $867 million of assets under management. The size of reinsurance vehicle Mt. Logan Re fluctuates both from year to year, and also throughout […]Mt. Logan Re swells 9% in 2016, ...

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Category: Content
Type: Blog Article

Generated 1 month ago

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  • Hannover Re increases sidecar use at 1/1, secures additional retro cover

    At the key January 1st 2017 reinsurance renewals Hannover Re increased its use of third-party retrocession capacity via its K-Cessions sidecar vehicle, purchased additional catastrophe retrocession protection, and also reported growth in its structured reinsurance business as demand spiked. The reinsurance giant announced today that it has increased its 2017 profit guidance to more than […]Hannove...

  • Galilei cat bonds help XL reduce PML’s and required capital

    Issuing its latest catastrophe bonds has significantly bulked up XL Group’s protection against peak U.S. hurricane events, with the companies probable maximum loss for U.S. wind dropping by 20% to 30%. At the same time the addition of the $1.275 billion of new catastrophe bond retrocessional reinsurance protection, in two chunks transacted at the end […]Galilei cat bonds help XL reduce PML’s and r...

  • Strategic capital activities at AXIS, including Harrington Re, pay off

    AXIS Capital has reported an increase in fee income earned through its strategic capital partners activity, which includes its alternative reinsurance capital strategy and the total-return reinsurer Harrington Re. AXIS Capital partnered with investment group Blackstone to launch Harrington Re this year with $600 million of capital raised, as it sought entry into the alternative […]Strategic capita...

  • Hawaii seeks parametric disaster insurance program for hurricane risk

    Proposed legislation in the U.S. state of Hawaii aims to establish a parametric disaster insurance pilot program to transfer its growing hurricane risk to the private insurance and reinsurance markets, which could include capital markets-backed capacity. The bill explains that Hawaii is extremely exposed to natural disaster events such as hurricanes, of which its investment […]Hawaii seeks paramet...

  • Blue Capital Re beats, underwrites higher rate-on-line portfolio for 2017

    New York  stock exchange listed fully-collateralised reinsurance company Blue Capital Reinsurance Holdings Ltd. has beaten analysts estimates in the fourth-quarter and reported today that its business underwritten for 2017 should produce a higher net rate-on-line for the portfolio. Blue Capital Re, which is an Endurance subsidiary operated by the reinsurers third-party capital management unit Blue...

  • Aon’s White Rock vehicle readies private ILS program in Bermuda

    Aon Insurance Managers appears to be readying a new private catastrophe bond and private ILS vehicle in Bermuda, with the listing of an ILS program through its White Rock segregated account transformer vehicle. Of course Aon already facilitates private ILS and collateralised reinsurance through its White Rock transformer or segregated accounts vehicles in Bermuda and […]Aon’s White Rock vehicle re...

  • Ontario Teachers’ appoints new MD for insurance-linked securities

    The Ontario Teachers’ Pension Plan (OTPP), the largest private pension fund in Canada with around $171.4 billion of assets under management, has announced a promotion to Managing Director for the person responsible for OTPP’s insurance and reinsurance linked investment team. Ontario Teachers’ has been investing in insurance linked securities (ILS) for a number of years, […]Ontario Teachers’ appoin...

  • Written managed catastrophe premiums decline further for RenRe

    Bermudian reinsurer RenaissanceRe (RenRe) has reported a reduction in managed catastrophe premiums during the fourth-quarter and full-year, 2016, and also revealed that it took in more capital for its Upsilon funds in the period. According to its recent financial results release, RenRe’s managed catastrophe premiums fell by roughly 47% in the fourth-quarter and by more […]Written managed catastrop...

  • Kaikoura NZ quake commercial insurance claims reach $900m

    Insurance industry losses from the 14th November magnitude 7.8 earthquake in Kaikoura, new Zealand are starting to be counted, with the Insurance Council of New Zealand revealing that over NZ$900 million of commercial claims have already been filed. The number only accounts for businesses that have filed claims with local domestic insurance companies, so does […]Kaikoura NZ quake commercial insura...

  • Expect to see more innovative ILS structures in 2017: BNY Mellon

    Investment management and investments services banking group BNY Mellon recently explored the prospects for global reinsurers in 2017, and the impact market dynamics could have on the insurance-linked securities (ILS) space in the coming months. In an interview with Artemis, Harold Fudali, head of US corporate and insurance sales and relationship management at BNY Mellon […]Expect to see more inno...

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  • Innovation, expansion, diversification key to ILS growth: Industry leaders

    In order for the insurance-linked securities (ILS) market to continue to grow at the pace it’s been accustomed to, it will need to expand and diversify into new peril regions via innovation, according to industry leaders. The ILS market’s focus on property catastrophe business is likely to continue expanding the sector, but at a pace […]Innovation, expansion, diversification key to ILS growth: Ind...

  • Too early to say hedge fund reinsurance model is a failure: A.M. Best

    Adverse economic conditions and reinsurance market turmoil has challenged industry participants throughout 2015 and into 2016, with hedge fund reinsurers being no exception, but it’s still too early to call this approach a failure, according to A.M. Best. The global reinsurance industry continues to evolve, leading market participants both old and new to adopt varied […]Too early to say hedge fund...

  • Phoenix takes Abbey Life from Deutsche Bank for £935m

    Phoenix Life Holdings Limited, a subsidiary of life insurance and reinsurance consolidator Phoenix Group Holdings Limited, has agreed to acquire the Abbey Life business from Deutsche Bank, a deal that will provide the troubled bank with £935m ($1.215 billion) in cash. Abbey Life is company that regularly features in the longevity risk transfer, longevity swap […]Phoenix takes Abbey Life from Deuts...

  • ILS investment fund returns hit 0.86% in August 2016

    Insurance-linked securities (ILS), pure catastrophe bond and reinsurance linked investment funds reported their highest single monthly return of the year in August 2016, with the sector recording an impressive and above average 0.86% for the month. Premium allocation due to being in the peak of the U.S. hurricane season and ongoing strong demand for catastrophe […]ILS investment fund returns hit 0...

  • CEA policy uptake rises, more risk transfer will be required: Pomeroy

    The California Earthquake Association (CEA), the non-profit provider of over 76% of residential earthquake insurance policies in California, has reported a significant increase in policy uptake in 2016, which the CEO told Artemis will mean more risk transfer will likely be required. California, as one of the most earthquake prone regions of an advanced economy, […]CEA policy uptake rises, more ris...

  • Alternative capital “an innovative force within insurance” – Aon

    While alternative capital has tested the marketplace, fundamentally changing the risk transfer business and been said to have disrupted the risk-to-capital value-chain in recent times, Aon says it’s important to remember that it’s provided an innovative force within insurance. According to Aon Securities, a subsidiary of Aon, alternative reinsurance capital now stands at an estimated […]Alternativ...

  • No sign increasingly disciplined pool of alt capital will shrink: Peel Hunt

    Despite a slowdown in the growth of alternative reinsurance capital in more recent times there’s no sign of the pool shrinking, and with a wealth of capacity waiting to enter post-event it’s unlikely a large event will turn the market, according to a recent note from Peel Hunt. It’s clear that the growth alternative reinsurance […]No sign increasingly disciplined pool of alt capital will shrink: P...

  • E&S market to come under pressure, as reinsurers hunt returns: Fitch

    The U.S. excess and surplus (E&S) lines insurance market may come under increasing pressure as reinsurance firms and others with the ability to underwrite E&S risks target the sector to offset lower pricing in other areas of reinsurance, according to Fitch Ratings. Large, specialist reinsurance underwriting firms have been increasingly stepping out of their traditional […]E&S market to come under ...

  • Sompo Japan trials blockchain for catastrophe & weather derivatives

    Japanese and global property & casualty insurance group Sompo Japan Nipponkoa Holdings Inc., is the latest to embrace use of blockchain technology for risk transfer as it trials the technology for catastrophe and weather linked derivative transactions. Blockchain, the distributed ledger technology which was originally developed for cryptocurrency bitcoin but has now been seen to […]Sompo Japan tri...

  • Why ILS managers are staying firm on rates: Michael Stahel, LGT

    Michael Stahel, Partner and Portfolio Manager at LGT ILS Partners describes how tearing down the wall between the reinsurance and capital markets has fundamentally altered the reinsurance cycle. Speaking to Artemis following the 2016 Rendez-Vous de Septembre in Monte Carlo, he also explained why Solvency II would encourage cedants to buy more collateralised protection. How […]Why ILS managers are ...

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Category: Content
Type: Blog Article

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  • Insurance more interconnected with capital markets than before: UK PRA

    To a greater extent than historically, insurance and reinsurance is more “interconnected with wider capital markets” than before, which alongside the inflow of institutional investor capital has helped to drive expected returns down, according to the UK’s Prudential Regulation Authority (PRA). In a speech this morning to the audience of the General Insurance Research Organisation […]Insurance more...

  • Evolving investor needs could hike ILS investment in Asia: Execs

    With insurance penetration across Asia poised for growth, the evolution of the sector and Asian investors’ increasing search for yield, uncorrelated returns, and a transition to investing in a portfolio context, will increase ILS investment, according to industry executives. For a number of reasons that includes a lack of awareness and education, limited catastrophe modelling […]Evolving investor ...

  • Moody’s updates catastrophe bond rating methodology

    Rating agency Moody’s Investors Service has published an updated version of its rating methodology for catastrophe bonds, clarifying the firms approach to monitoring in-force cat bonds and mortality bonds, while making editorial changes to the methodologies text for clarity. Currently, Moody’s does not rate any outstanding catastrophe bonds, but the rating agency would like to […]Moody’s updates c...

  • Alternative capital helps reinsurance serve broader set of goals: Swiss Re

    The utilisation of reinsurance protection is transitioning to serve a wider range of goals, and the integration of efficient, alternative reinsurance capital is helping the market achieve this, according to Swiss Re. The continued evolution of the insurance and reinsurance industry has resulted in a more mature and sophisticated approach to buying reinsurance protection, where […]Alternative capit...

  • Hunt for profitable business to drive reinsurance M&A: A.M. Best

    As reinsurance firms continue to shape their responses to the challenging and competitive market environment, searching for profitable business remains a key necessity and the desire for this relevance could drive more mergers & acquisitions, says A.M. Best. While reinsurers have been reporting decent profits in recent quarters, they are becoming increasingly hard to find […]Hunt for profitable bu...

  • Unwillingness to pay “one of the big myths” of the ILS market: Craig Wenzel, XL Catlin

    Craig Wenzel, Head of Alternative Capital at XL Catlin, does not understand why there is any concern amongst cedants that alternative reinsurance or ILS structures could fail to payout in the event of a major loss. In comparison to the frequent claims disputes in the traditional reinsurance market, the collateralised reinsurance and ILS market has […]Unwillingness to pay “one of the big myths” of ...

  • Catastrophe bonds & ILS not a reinsurance disruptor: Dennis Kessler

    The rise of catastrophe bonds and insurance-linked securities (ILS) issuance in the global reinsurance marketplace is not a market disruptor, but supportive and supplementary to the global reinsurance market, according to SCOR’s Dennis Kessler. With so many headwinds continuing to test the global reinsurance market, including excess capacity, the benign loss experience, low interest rates […]Catas...

  • PERILS in Australia enables new risk trading possibilities: Luzi Hitz, CEO

    PERILS AG, the provider of industry-wide catastrophe exposure, industry loss data and indices, recently announced its expansion into Australia, a move that Chief Executive Officer (CEO), Luzi Hitz, says will open up new trading possibilities and that has received strong market support. Speaking to Artemis around the 2016 Monte Carlo Reinsurance Rendezvous, Luzi Hitz of […]PERILS in Australia enabl...

  • Despite falling returns equity investors unlikely to exit reinsurance: S&P

    The majority of reinsurance equity investors are likely to remain in the sector despite persistent rate declines as returns continue to be more favourable than other industry sectors, according to Standard & Poor’s (S&P). Rates have declined in the global reinsurance industry for some time, and despite a moderation of reductions in some business lines […]Despite falling returns equity investors un...

  • Hurricane Hermine insured losses expected below $400m: RMS

    According to risk modelling firm RMS the insurance and reinsurance industry is not expected to face any more than $400m in industry losses as a result of hurricane Hermine’s recent landfall in Florida and the subsequent wind and coastal flooding caused by the storm. Hurricane Hermine struck Florida at the start of September, breaking the […]Hurricane Hermine insured losses expected below $400m: RM...

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