Archive for May, 2013

Weather forecaster AccuWeather Inc. has joined other forecasters of tropical cyclone and hurricane activity in predicting a 2013 Atlantic hurricane season with above average levels of activity. Every forecaster that we have covered so far this year has called for levels of tropical storm and hurricane activity above the long-term average and now that we […]

The Armor Re Ltd. (Series 2013-1) catastrophe bond issuance for first-time cat bond sponsor American Coastal Insurance Company has now completed successfully. The one-year duration Armor Re cat bond provides American Coastal with a $183m source of fully-collateralized reinsurance capacity for named Florida storms using an indemnity trigger, so any tropical cyclone, storm or hurricane […]

Sirius International Group, Ltd., the Bermuda based reinsurance arm of the White Mountains Insurance Group, Ltd., is the latest reinsurer to announce the launch of an initiative seeking to capitalise on the convergence of reinsurance and capital markets. Sirius Group has formed a dedicated ILS team which will lead a strategic initiative in the insurance […]

Bermuda based reinsurer Tokio Millennium Re Ltd. (TMR) has today announced its plans to change domicile and move its country of incorporation from Bermuda to Switzerland. As part of the firms ongoing commitment to growth and expansion, as it continues to contribute to parent Tokio Marine Group’s globalisation ambitions, it has been decided that Tokio Millennium […]

At the recent April 1 reinsurance renewals the insurance-linked securities market and third-party reinsurance capital sources have had a marked impact on renewal rates in many regions of the world. Interestingly, the one region of the world which saw traditional reinsurers at their happiest with the renewal terms and conditions achieved seemed to be Japan […]

We now have more detailed information about the recently launched catastrophe bond transaction from U.S. primary insurer and military focused mutual insurer USAA. The $250m Residential Reinsurance 2013 Ltd. (Series 2013-1) is the 20th cat bond USAA has sponsored under the Residential Reinsurance banner, and once completed will take the total risk transferred via cat […]

Bermuda headquartered AQR Re, the reinsurance arm of Greenwich, CT investment management firm AQR Capital Management, has announced the hiring of two senior reinsurance industry executives to its senior management team, expanding its presence in Bermuda. The two executives are John M. Lummis, who has been hired to the role of Chief Executive Officer, and […]

The Prudential plc group of companies, which includes Prudential and M&G branded financial firms, has shown its appetite for investments in catastrophe risk and reinsurance by participating in the recently closed fundraising placement of new shares by the Montpelier Re backed Blue Capital Global Reinsurance Fund Limited. Prudential plc companies took an additional 10 million […]

Liquidity increased in the secondary market for catastrophe bond and insurance-linked securities notes in April, helped by continued strong primary cat bond issuance stimulating portfolio rebalancing among investors looking to accommodate new deals. This trend began in March, as we wrote a month ago here, but liquidity increased in April as the need to adjust […]

The capital markets and private cat bond specialist arm of professional services firm Towers Watson has completed the issuance and placement of its fourth privately placed catastrophe bond transaction, the $20m Sunshine Re Ltd. (Series 2013-1). Operating in multiple roles, Towers Watson Capital Markets (TWCM) has structured, arranged, acted as bookrunner and placed this cat […]