Archive for August, 2013

Yesterday we wrote about the launch of a new private catastrophe bond issuance platform by global independent insurance manager Kane and the issuance of the first series of private cat bond notes on it. The first series of just over $9.5m of notes feature underlying risk ceded from the Texas Windstorm Insurance Association (TWIA).

As we wrote a few weeks ago, the DCG Iris Limited insurance-linked security (ILS) and reinsurance-linked investment fund will hold a continuation vote and offer its shareholders a chance to redeem their share capital because it has not hit its £150m fund-raising target yet.

The influx of third-party capital into the global reinsurance market via instruments like catastrophe bonds, insurance-linked securities, funds and other vehicles is affecting reinsurance pricing, but ILS pricing is now stabilising, according to comments made by senior Swiss Re executives.

RenaissanceRe, the Bermudian reinsurance firm, has a long history of bringing third-party capital from institutional investors and joint-venture partners into its underwriting business. The reinsurer believes that its ability to play between a rated balance sheet and third-party capital is the optimal structure for most scenarios.

Kane, the global independent insurance manager, has launched a private catastrophe bond issuance platform and a first series of notes has been issued. The private catastrophe bond notes have been issued through the Kane SAC Limited Note Program, a platform Kane has established to assist private ILS sponsors.

Leadenhall Capital Partners LLP, the London based non-life and life insurance-linked securities and collateralized reinsurance asset manager, has expanded its reinsurance-linked investments team with the hire of an experienced property reinsurance underwriter.

The insurance-linked security (ILS) and reinsurance-linked investment market increasingly shows an interest in adopting the use of crop insurance risk models, as the sector looks to find new avenues to deploy capital into for premium income return. The ILS and collateralized reinsurance market sees crop as a potential new peril.

ATLANTICLUX, the Luxembourg based life insurer which is an an affiliate of the Munich based FWU Group, has brought to market another novel securitization of in-force life insurance policies and this time it’s wrapping the life insurance-linked securities within an Islamic bond, or Sukuk, called Salam III Limited.

Here are the top ten articles as viewed by our readers week ending 11th August 2013. 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 articles from the last […]

Recent proposals from the U.S. Securities & Exchange Commission (SEC), regarding tightening of money market fund (MMF) regulations, could impact the catastrophe bond and insurance-linked securities market. Most cat bonds, ILS and many collateralized reinsurance transactions utilise money market funds as collateral assets.