third-party reinsurance capital

A developing situation in the corporate bond market has the potential to drive a significant increase in interest in insurance-linked securities (ILS) and has the potential to drive more inflows to the catastrophe bond market, analysts at Jefferies have suggested.

It is hard to see anything other than further small price improvements for reinsurance cedents given the strong state of both traditional and alternative reinsurance markets at this time, Tom Wakefield, CEO of broker Gallagher Re has said.

Aspen Capital Markets, the third-party and alternative reinsurance capital management unit of global re/insurer Aspen, continued to expand its funding for third-party capital and insurance-linked securities (ILS) vehicles, as total capital sourced reached $1.7 billion by the end of 2023.

2023 saw strong growth for insurance and reinsurance linked investment manager Nephila Capital’s specialty lines focused Syndicate 2358 at Lloyd’s, which more than doubled both its gross written premium and its profit for the year.

The insurance industry loss from the collapse of the Francis Scott Key Bridge in the US city of Baltimore after container ship Dali struck one of its support columns is estimated to be above the $1.5 billion of the Costa Concordia disaster, with as much as $4 billion in industry losses anticipated.

The reinsurance market is expected to bear the brunt of losses from the collapse of the Francis Scott Key Bridge in the US city of Baltimore after container ship Dali struck one of its support columns, which rating agency AM Best said will add to the increasing challenges of reinsurance availability.

After a hearing held on Friday in the Supreme Court of Bermuda, an order has been filed that sanctions the settlement agreements that had been proposed under the Vesttoo Chapter 11 bankruptcy and approval was given for the joint provisional liquidators (JPL’s) to Aon’s White Rock to remove their objections to the plan.

This video features an expert panel discussing trends in insurance-linked securities (ILS) investor sentiment and appetites at our Artemis ILS NYC 2024 conference, held in New York on February 9th 2024.

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, has announced the promotion of Kyle Freeman to the role of Head of ILS, as the company elevates him to oversee all third-party capital activities.

The Supreme Court of Bermuda will hold a hearing in relation to the Vesttoo bankruptcy case this week, as the focus for creditors and cedents turns to receiving approval to proceed with the proposed settlement agreements under the Chapter 11 bankruptcy plan.