Archive for March, 2013


Caelus Re 2013-2 catastrophe bond grows to $320m

The second Caelus Re 2013 catastrophe bond issuance from U.S. insurer Nationwide Mutual has grown in size to $320m before close, according to our sources. The transaction, Caelus Re 2013 Ltd. (Series 2013-2), has been marketed quickly for Nationwide Mutual, having only first come to light a week ago. The read the full article →

SPI registrations contribute to healthy 2012 for Bermuda re/insurance market

The year 2012 saw brisk activity in the registration of new insurers, reinsurers and captives in Bermuda. New insurer registrations totalled 53 for the year, according to the Bermuda Monetary Authority, with 27 of those being Special Purpose Insurers (SPI), the class of insurer in Bermuda which are largely used read the full article →

Another independent UK asset manager grows allocation to catastrophe reinsurance

Another of the UK's independent asset managers has followed a trend which is emerging where some independent investment houses increase their allocations to reinsurance and catastrophe risk through some of the ILS and reinsurance funds we cover here on Artemis. This time around the asset manager in question is Premier read the full article →

Swiss Re settles life retrocession dispute with Berkshire Hathaway

Reinsurer Swiss Re has announced that its dispute with Warren Buffett's Berkshire Hathaway regarding a 2010 life retrocession deal has now been settled. The settlement will see Swiss Re take back some of the life exposure included in the retro deal and the reinsurer will receive a payment of $610m read the full article →

2012 catastrophes & man-made disasters caused $77 billion insured losses

The latest sigma study from reinsurance company Swiss Re has been published today and it shows that natural catastrophes and man-made disasters in 2012 caused economic losses of $186 billion and insured losses of $77 billion. A number of large-scale weather events in the U.S. helped to push up the read the full article →

Lloyd’s: Third-party ILS capital is both a threat and opportunity

The Lloyd's of London specialist insurance and reinsurance market has announced a 2012 profit of £2.77 billion today, bouncing back from a loss it suffered in 2011 of £516m. The Lloyd's market managed to profit in 2012 despite incurring net claims of £10 billion, with £2.2 billion of that coming read the full article →

Bill Keogh, ex-President of EQECAT, joins TigerRisk

William (Bill) Keogh, who left his role as President of risk modelling firm EQECAT just last week, has emerged as a new hire at TigerRisk Partners, a reinsurance broking and risk and capital management firm founded by Jim Stanard and Rod Fox. Keogh resigned from EQECAT to pursue a new read the full article →

Insurance-linked securities (ILS) funds see best February return since 2010

2013 has continued on a positive note for investors and fund managers as the average return of insurance-linked securities (ILS) and reinsurance-linked investment funds in February reached 0.73% as measured by the Eurekahedge ILS Advisers Index. This is the best February performance recorded by the Index since 2010 and beats read the full article →

PartnerRe launches $75m Lorenz Re reinsurance sidecar facility

Bermuda based reinsurer PartnerRe Ltd. has become the latest to launch a third-party capital management play with the announcement late yesterday of a new reinsurance sidecar called Lorenz Re Ltd. The sidecar, or companion facility as PartnerRe has called it, is a Bermuda domiciled Special Purpose Insurer registered on the read the full article →

Stone Ridge Reinsurance ILS funds re-open to investors

Just last week we wrote about New York based investment manager Stone Ridge Asset Management's successful raising of initial capital targets for its two insurance-linked securities (ILS) and reinsurance-linked investment funds. U.S. Securities and Exchange Commission documents showed that the funds had raised around $350m and subsequently had been closed read the full article →