Archive for September, 2013

The DCG Iris insurance-linked securities (ILS) fund, marketed and operated by Dexion Capital with Credit Suisse providing ILS asset management services via its CS Iris Low Volatility Plus ILS fund, is targeting its next share placement for late October.

French reinsurer SCOR has suggested that the insurance industry loss from recent catastrophic hail storms in Germany could reach as much as EUR3 billion. That is significantly higher than earlier estimates from risk modellers who put the loss at up to EUR1.5 billion.

One of the points of discussion at the recent Monte Carlo reinsurance Rendezvous event was just how much capital might we see flow into the insurance and reinsurance market as insurance-linked securities and other fully collateralized instruments or vehicles from alternative and third-party investor sources.

Insurance-linked securities and reinsurance-linked investments manager Credit Suisse has now fully resolved the potential exposure its CS Iris Low Volatility Plus Fund Limited had to last years hurricane, or superstorm, Sandy event and has moved side-pocketed investments back into the main fund portfolio.

Five years on from one of the largest financial firm failures ever, the bankruptcy and collapse of investment bank Lehman Brothers, many global financial assets have struggled to provide attractive returns as the world’s economies struggled to recover, with some being hit by multiple recessions.

According to a report in the Times newspaper this morning, the UK’s Prudential Regulatory Authority, a City regulator tasked with regulation and supervision of financial services including insurance, is monitoring the influx of alternative capital into the reinsurance market.

Last week we wrote that commercial property policy owners in Louisiana were to begin to feel the benefits of cheaper property catastrophe reinsurance as Louisiana Citizens promised to pass on some of its reinsurance savings. Now a major Florida homeowners insurer is planning to do the same.

Here are the top ten articles as viewed by our readers week ending 15th September 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 […]

Tropical storm Ingrid, the ninth named storm of the 2013 Atlantic tropical storm and hurricane season, has formed in the far western Gulf of Mexico. Tropical storm Ingrid is expected to head for the Tampico area threatening Mexico with extreme rainfall as it moves forwards.

Barbican Group, an insurance and reinsurance firm with a Lloyd’s focus but headquartered in Guernsey and backed by private equity investors, has launched a new Guernsey domiciled reinsurer which will focus on underwriting specialty business on a collateralized basis and will raise third-party capital, according to the firms CEO.