Archive for December, 2012

A number of new estimates for losses caused by hurricane Sandy have been published by insurers and reinsurers. We’re only really following estimates from those with cat bonds or where they involve the top insurers in the region and so offer a rough approximation tool for estimating where the industry loss from this event may […]

The Bermuda Stock Exchange approved the secondary listing of the 100,100,000 Ordinary Shares of Blue Capital Global Reinsurance Fund Limited to their exchange on 6th December. The primary listing for the shares is on the London Stock Exchange’s Specialist Fund Market, as we wrote last week. The shares represent the first offering from Bermuda reinsurer […]

The Cayman Islands has new legislation in place which it hopes will help it to grow its share of the global catastrophe bond and reinsurance market. Two new classes of reinsurer have been created, and amendments made to the Cayman’s immigration policies, as it seeks to attract more of the new capital entering the reinsurance […]

The international insurance and reinsurance think-tank The Geneva Association has been one of the more vocal organisations on the topic of systemic riskiness of global insurers and reinsurers. Back in August they voiced concerns about the International Association of Insurance Supervisors (IAIS) work to identify ‘globally systemically important insurers’ saying that when assessing systemic risk […]

Independent catastrophe risk management and modelling firm Karen Clark & Company (KCC) has published an interesting report looking at U.S. insured property exposures using up to date exposure data in their RiskInsight platform for catastrophe risk management. The report shows that insured building values in the U.S. now totals over $40 trillion, including residential, commercial […]

Investment manager Baillie Gifford, who are headquartered in Edinburgh, Scotland, are one of the many asset managers who have allocated capital to the reinsurance-linked investment space. Demonstrating that reinsurance and catastrophe risk is currently an attractive addition to their broad portfolios, Baillie Gifford have taken 10% of the shares from the initial offering made last […]

The slow recovery of many secondary market catastrophe bond prices continues in the wake of hurricane Sandy. Most of the impacted bonds which are now understood to be safe have recovered the mark-to-market losses they had seen, a number of others remain priced below par as their fate is still uncertain. Other cat bonds continue […]

Pillar Capital Holdings Limited, the Bermuda-based reinsurance-linked investment manager which was formerly Juniperus Capital has announced that Transatlantic Holdings, Inc. (TransRe) has become a strategic partner in Pillar. This is interesting as TransRe sold an investment in Pillar last year before it was rebranded from Juniperus. Pillar Capital is an asset manager focused on collateralized reinsurance and […]

American International Group, Inc., AIG for short, announced their first estimate of the losses they will suffer from hurricane Sandy claims late on Friday. The insurer waited until after the stock markets had closed before making the announcement, perhaps a sensible move given the size of their first estimate. AIG’s preliminary estimate is for a […]

Reinsurer Swiss Re has announced the completion of an £800m ($1.3 billion) longevity insurance transaction with UK insurer LV=. The transaction see’s Swiss Re providing longevity insurance for over 5,000 members of the LV= pension fund and includes the longevity exposures associated with 1,000 members who are yet to retire. Swiss Re said that this […]