Archive for September, 2016

Leadenhall Capital Partners, specialist London headquartered insurance and reinsurance linked investment management firm, has set up a U.S. operation which will be led by new hire Brian Weatherholtz, an ILS sector veteran.

Insurance or reinsurance sidecar vehicles will be put to work to enable investors to co-invest alongside insurers and reinsurers in the pension and longevity risk transfer market, predicts Prudential’s Amy Kessler.

Being able to successfully attract and deploy alternative reinsurance capital can provide reinsurers with some potentially invaluable cost reductions and broader market efficiencies, according to global reinsurance broker Aon Benfield.

Tullow Oil, the operator of the striken Kwame Nkrumah FPSO (floating production storage and offloading) on the Jubilee oil field, Ghana, has said that its insurers have confirmed that the firm has a recoverable claim to make under its business interruption policy.

Beta and alternative risk focused mutual fund manager Stone Ridge Asset Management has further increased its insurance and reinsurance linked assets under management, coming very close to the $5 billion mark, reporting $4.95 billion of ILS assets at July 31st 2016.

Hurricane Matthew has now intensified into a Category 4 storm, with sustained winds of 130mph (as at Monday morning) and higher gusts, as it continues its westward track through the Caribbean. A northward turn has targeted major hurricane Matthew towards Haiti, Jamaica, Cuba and the Bahamas.

According to risk modelling firm AIR Worldwide, typhoon Meranti’s impact on mainland China could have resulted in insurance and perhaps reinsurance industry losses of up to $1.15 billion, the firm estimates.

The gap between the supply and demand of reinsurance protection has narrowed in recent times and, at the same time, global reinsurance capital has increased to a record-breaking $585 billion, according to Aon Benfield.

AXA Investment Managers (AXA IM), the global asset management unit of AXA Group, has announced two new hires for its insurance-linked securities (ILS)  and reinsurance linked investment and fund management team, adding a portfolio manager and an analyst.

In the last reported quarter U.S. mutual fund manager Pioneer Investments has grown its interval style insurance-linked securities and reinsurance linked investment fund, the Pioneer ILS Interval Fund, by another 28% to reach almost $142m of ILS assets under management.