A new report published by rating agency Standard & Poor’s suggests that reinsurance firms may be looking at the state of the market with a sense of deja vu, as they realise they face another year of declining reinsurance rates.
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The price guidance for Bermuda-headquartered specialty insurance and reinsurance firm AXIS Capital Holdings Ltd’s Northshore Re II Ltd. (Series 2017-1) catastrophe bond transaction has been reduced again, reflecting the continuing strong investor appetite for new issues.
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Cartesian Re, the reinsurance and ILW focused investment management unit sponsored by global private equity investment firm Cartesian Capital Group, LLC, is expanding its access to investors using a multi-pronged approach including a new Luxembourg domiciled fund, a U.S. mutual fund and a Bermuda listed vehicle.
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Today we’re delighted to announce the full agenda for our upcoming ILS Asia 2017 conference, which is being held at the Marina Bay Sands complex in Singapore, on the 13th July. There are a few tickets still remaining, so please register to attend today.
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AXA Global Parametrics, the unit of insurer AXA that focuses on providing clients with parametric insurance underwriting and risk transfer solutions, is to begin offering its capacity as a protection seller through the Speedwell Weather owned parametric weather risk transfer platform weatherXchange.
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NFIP reform bills progress, including calls for flood cat bonds

June 22, 2017

A number of bills aimed at reforming the U.S. National Flood Insurance Program (NFIP), in order to make it a more sustainable system and to factor in more private market insurance and risk transfer, have been passed by the House Financial Services Committee and will now move onto the full House of Representatives for deliberation.

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PERILS industry loss triggers used in $14.2bn of risk transfer to-date

June 22, 2017

Industry loss triggers continue to play a vital role in risk transfer transactions, such as catastrophe bonds, industry loss warrants (ILW’s) and other private ILS or collateralized reinsurance arrangements, and now PERILS AG has reached $14.2 billion of limit placed using its triggers and data.

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Generali’s Lion II Re cat bond prices at bottom of reduced guidance

June 22, 2017

Another catastrophe bond has been priced at the bottom end of an already reduced spread range, as sponsor Assicurazioni Generali S.p.A. has secured its latest catastrophe bond, the Lion II Re DAC European flood exposed transaction, at a very competitive rate.

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AXIS’ Northshore Re II cat bond upsized to $350m, pricing tightens

June 22, 2017

The latest catastrophe bond transaction to be sponsored by Bermuda-headquartered specialty insurance and reinsurance firm AXIS Capital Holdings Ltd. is set to upsize by 40%, as its Northshore Re II Ltd. (Series 2017-1) transaction grows to $350 million, while the price guidance has tightened.

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ILS funds facing excess capacity after June renewal: TigerRisk

June 21, 2017

The ILS and collateralized reinsurance market is facing its own excess capacity issue currently, with a number of ILS fund managers still having capital to deploy even after the key June Florida renewals, according to TigerRisk Capital Markets & Advisory.

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Pricing falls below initial guidance on Generali’s Lion II Re cat bond

June 21, 2017

Generali’s latest EUR 200 million catastrophe bond, the Lion II Re DAC transaction that looks to secure reinsurance protection against European perils including flood risks, has seen its suggested coupon fall below the initial launch guidance, as ILS investors demonstrate their comfort with the first Euro flood indemnity triggered bond.

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Kaikoura quake claims hit NZ $1.84 billion

June 21, 2017

Insurance claims filed in both personal and commercial lines that will fall to private insurers after the 14th November Kaikoura earthquake have now risen to NZ $1.84 billion (approximately US $1.33 billion), according to the latest data from the Insurance Council of New Zealand.

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Tropical storm Cindy intensifies, threatens flash flooding

June 21, 2017

Tropical storm Cindy was named yesterday, as the third official storm of the 2017 Atlantic Tropical Storm & Hurricane Season, and has intensified to now carry 60mph sustained winds with torrential rainfall and flash flooding now a threat across areas of the U.S. Gulf Coast.

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Renewable energy risks an opportunity for parametric triggers: Swiss Re

June 21, 2017

Global reinsurance firm Swiss Re has identified a number of opportunities in the renewable energy production arena where demand for risk transfer is likely to increase considerably and parametric or index triggers are eminently suitable, an opportunity the ILS market is also targeting.

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CEO Tony Belisle extends contract with Markel CATCo Investment Management

June 21, 2017

Reinsurance and retrocession linked investment management specialist Markel CATCo Investment Management Ltd. has announced this morning that its Chief Executive Officer Tony Belisle is to extend his contract with the firm.

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