Archive for February, 2013

One of the side-effects of Florida’s Citizens Property Insurance’s, the property insurer of last resort, plan to reduce the risk it holds through depopulation of some of its policies and increasing its own use of private market risk transfer will be an increase in the amount of Florida hurricane risk in the private reinsurance market. […]

Once again, the investment-side risk that comes with the hedge fund backed reinsurer strategy becomes apparent in a hedge fund reinsurance firms results announcement. This time it’s Greenlight Re, the Cayman Islands domiciled reinsurer backed by hedge fund manager David Einhorn, which has been hit by investment losses. The last time we wrote about Greenlight […]

Rating agency Standard & Poor’s have resolved the rating uncertainty on two aggregate tranches of catastrophe bond notes from USAA’s Residential Reinsurance 2011 Ltd. (Series 2011-1) and Residential Reinsurance 2012 Ltd. (Series 2012-1) transactions. Both tranches had been on CreditWatch since the 6th November due to the potential impact of hurricane Sandy on the cat […]

Another reinsurer commented on the influx of alternative capacity from capital markets and investor backed sources into the reinsurance market in its recent earnings conference call. Bermuda based Everest Re Group Ltd. recently took its first step into the alternative capacity arena with the launch of its Mt. Logan Re, Ltd. sidecar. Judging by the […]

Recent strong inflows of capital, from alternative and capital market sources, into the insurance-linked securities and collateralized reinsurance space have had an effect on pricing which even ILS fund managers are beginning to talk about. Typically it is the traditional reinsurance providers who bemoan the impact of capital inflows on the reinsurance premiums they can […]

Over the last two weeks the index we follow that tracks the price return of the outstanding catastrophe bond market has risen at a faster rate, after the start of the year began a little sluggishly. It’s time for another of our regular looks at the Swiss Re Cat Bond Performance Indices, to see what […]

The latest secondary market pricing indications from catastrophe bond trading desks show that the hurricane Sandy threatened Successor X Ltd. (Series 2011-3) Class V-F4 cat bond notes continue to be considered at risk by investors. Pricing indications are a good measure of investor sentiment and while the average price has risen slightly since the end of […]

As we wrote last Friday in this article on the subject, Florida’s Citizens Property Insurance plans to increase its spending on private market reinsurance and risk transfer in 2013, upping the amount of cover it will look to acquire by almost 17%. It has been expected that Citizens would look to the capital markets again […]

Bermuda based investment management firm ILS Capital Management, Ltd., which specialises in delivering its clients investment opportunities in collateralized reinsurance and insurance-linked securities, has announced two new hires to its team. The firm which was established in 2011 by reinsurance industry veteran Don Kramer has been focused on raising capital, and aims to launch its […]

The issuance market for catastrophe bonds continues to be quiet but, as we understand it, we hope to see some action before the end of the month as a number of deals are currently being firmed up prior to marketing. As always, you can read every market news story and article on the Artemis news […]