Archive for June, 2013

Munich Re, the world’s largest reinsurance company, is bringing another of its Queen Street catastrophe bond deals to market, according to our sources, in Queen Street VIII Re Limited.  The eighth Queen Street cat bond includes what is sure to be seen as a diversification opportunity of sorts for investors, some rare (to the cat […]

Lawfirm Kramer Levin Naftalis & Frankel LLP  has announced a new hire to its insurance Practice Group today who brings with him a signficant amount of experience in insurance-linked securities and catastrophe bond legal work. Daniel A. Rabinowitz joins the firm as a partner and will be based in Kramer Levin’s New York office.

The influx of capital into the reinsurance market from third-party, capital market investor sources, may be impacting property catastrophe rates but is not yet having an impact on U.S. commercial line insurance renewals, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Towers Watson.

French insurance and banking group Groupama is seeking to extend the cover it receives from the capital markets through catastrophe bond issuances with a new transaction, Green Fields II Capital Ltd. (Series 2013-1). The transaction will give the French insurer an expanded and extended source of French windstorm reinsurance coverage.

TigerRisk Partners, the  reinsurance broking, risk and capital management firm founded by Jim Stanard and Rod Fox, has appointed James F. Dowd, one of the founders of reinsurer Odyssey Re, to lead TigerRisk’s development of and expansion into international reinsurance markets.

Very interesting news has just come in that Tokio Solution Management Ltd., the collateralized reinsurance and insurance-linked securities arm of reinsurer Tokio Millennium Re, and GC Securities, the capital markets arm of broker Guy Carpenter, have teamed up to create and launch a private catastrophe bond platform called the Tokio Tensai™ Platform.

Amlin plc, an insurance and reinsurance group involved in non-life underwriting in the Lloyd’s market, Bermuda and Europe, is to sponsor its second catastrophe bond transaction with the launch of Tramline Re II Ltd. (Series 2013-1). The deal sees Amlin looking for a new source of multi-year, fully-collateralized reinsurance for U.S. and Canadian earthquake risks.

Zurich based independent provider of industry-wide European catastrophe insurance data and loss indices, PERILS AG, has released satellite-based flood footprints for the ongoing catastrophic flooding event in Central Europe. The floods which have affected Germany, Austria, the Czech Republic and Hungary are expected to result in billions of Euros of insured losses.

As forecast we saw the first named storm of the 2013 Atlantic hurricane season last week in tropical storm Andrea. As always, you can read every market news story and article here on the Artemis news blog, subscribe to our weekly email newsletter updates and for your convenience here are the ten most popular news […]

In the latest monthly managers update for the DCG Iris insurance-linked securities fund, the London Stock Exchange listed closed end ILS investment fund operated by Dexion Capital, it is revealed that Credit Suisse intends to move one of its funds out of catastrophe bonds in an attempt to find a better return for investors.