Archive for August, 2013

In its second-quarter earnings and first-half financial report representatives of the world’s largest reinsurance company Munich Re made some comments related to the impact of third-party capital backed capacity on recent reinsurance renewals. Munich Re feels the impact of third-party capital but believes this capacity is restricted for the moment.

The Northshore Re Limited (Series 2013-1) catastrophe bond, which is the first cat bond to be sponsored by Bermuda based global insurance and reinsurance group AXIS Capital Holdings, has now been successfully completed, received its ratings and the notes have been listed in Bermuda.

Property Claims Services (PCS), a division of Verisk and the leading source of data on insured property losses from catastrophes in the U.S., has published an interesting report on indemnity catastrophe bonds today. The report highlights, what PCS considers, five key issues that investors in indemnity cat bonds need to be aware of.

Two of the forecasters we follow for their updates on the Atlantic tropical storm and hurricane season have reduced their predictions for the number of storms that will intensify to hurricane or severe hurricane status. Both of the forecasters continue to predict an above average 2013 Atlantic Hurricane Season.

Bermuda based global specialty insurance and reinsurance firm, AXIS Capital Holdings, has taken advantage of recent reductions in pricing of reinsurance and retrocessional protection with selected, largely non-traditional, opportunities which help it to hedge its own reinsurance portfolio.

Standard & Poor’s Ratings Services has been responsible for the rating of $3.55 billion worth of natural catastrophe bonds so far this year, more than it had rated in the first seven months of the previous three years. The same period in 2010, 2011, and 2012 saw S&P rate $2.1 billion, $1.6 billion, and $3.3 […]

Bermuda domiciled reinsurance firm Third Point Reinsurance Ltd., backed by Third Point LLC hedge fund owner Dan Loeb, has announced the details of its initial public offering (IPO) today. The reinsurer will offer 22,222,222 of its common shares at an expected offering price of between $12.50 and $14.50 each.

The growth and expansion of the insurance-linked securities market for risk transfer and reinsurance-linked investments is driving an increase in the formation of protected and incorporated cells in the domicile of Guernsey. In the first-half of 2013 the Guernsey Financial Services Commission (GFSC) has licensed 46 international insurance entities.

In its recent second-quarter earnings call the CEO of insurance, reinsurance and financial services group Allied World Assurance Company Holdings, AG, Scott Carmilani, said that the firm “love the relationship” it has built with reinsurance-linked asset manager Aeolus Capital Management Ltd.

We published 25 news stories in the last week, here are the ten most popular. 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 seven […]