Archive for May, 2013

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Atlantic hurricane season starts tomorrow, tropics already ripe for development

The 2013 Atlantic Hurricane Season begins tomorrow and runs for six months, from June 1st until the end of November, and the tropics are already looking ripe for storm development according to a number of forecasting models. Forecasters predict an active season in 2013 and conditions look conducive to storm read the full article →

Growing number of capital markets investors accepting hurricane risk: Fitch

As the insurance and reinsurance industry fast approaches the 2013 Atlantic Hurricane Season, which technically begins tomorrow on the 1st June, ratings agency Fitch Ratings says that the U.S. insurance industry has the capacity to withstand potential losses from hurricane related perils, helped by the growing acceptance of hurricane risk read the full article →

Insurance-linked securities funds see best April since 2007

Positive returns continued for managers of and investors in insurance-linked securities (ILS) and reinsurance-linked investment funds in April. The average return of ILS funds in April reached 0.83% as measured by the Eurekahedge ILS Advisers Index. This is the best April performance recorded by the Index since 2007 and the read the full article →

Nicholas Ernst joins Choice Natural Gas as Director of Weather Markets

Nicholas Ernst, a high-profile figure in the weather risk management market, is joining Choice Natural Gas, a subsidiary of independent interdealer broker OTC Global Holdings, as its new Director of Weather Markets. Ernst spent ten years at weather broking focused Evolution Markets during which period he also served some time read the full article →

Aon Benfield Securities adds Triggs to capital markets team

Global reinsurance broker Aon Benfield's investment banking and capital markets division, Aon Benfield Securities, has added another senior strategic advisory executive to its London team. Nick Triggs joins Aon Benfield Securities from Keefe Bruyette & Woods Limited as a Managing Director reporting directly to Paul Schultz, Chief Executive Officer of read the full article →

EQECAT and RMS to share exposure data schemas

Risk modelling firm EQECAT has announced that it has agreed with Risk Management Solutions (RMS) an arrangement which will see the firms share exposure data schemas in an effort to help clients leverage a multi-model view of risk more simply. Currently it is time consuming to change models just to read the full article →

New hire at Third Point Re to boost capital raising and investor relations

Bermuda based hedge fund backed reinsurer Third Point Re has announced a new hire to its investment management arm, Third Point Reinsurance Investment Management Ltd. The new hire will be responsible for capital raising efforts and investor relations as the firm looks to build out its reinsurance capital management and read the full article →

Reinsurance and cat bonds help Florida Citizens into best financial shape ever

Florida’s Citizens Property Insurance Corporation will begin the 2013 Hurricane Season in the best financial shape ever, according to recent comments made by CEO Barry Gilway. The CEO, of the insurer of last resort for many of Florida's most hurricane exposed properties, cites the contribution that private reinsurance alongside the read the full article →

Southport Re makes the Cayman Islands its home

Private equity firm backed reinsurer Southport Re, which writes much of the reinsurance coverage it provides on a fully collateralized basis', has made the Cayman Islands into its home after taking advantage of recent changes to the jurisdiction's insurance laws and changing its company classification.Southport Re has migrated from a read the full article →

NZ Superannuation Fund appoints Leadenhall to $275m insurance-linked mandate

London based insurance-linked securities and reinsurance-linked investment manager Leadenhall Capital Partners has secured a major new $275m investment mandate from the New Zealand Superannuation Fund. It's not the NZ Superannuation Fund's first allocation to insurance-linked securities but it is the largest allocation to catastrophe and reinsurance linked assets the Fund has read the full article →