Archive for September, 2013

As alternative capital, sourced from institutional and other third-party investors, continues to flow into the reinsurance market at pace thoughts at the Monte Carlo Rendezvous event turn to how this will change the structural landscape for reinsurers. One possible end result could be a displacement of traditional equity reinsurance capital, according to broker Willis Re.

Lloyd’s chairman John Nelson had the chance to expand on his thoughts on alternative capital in reinsurance at the Monte Carlo reinsurance Rendezvous this morning when he spoke at PwC’s breakfast briefing. Nelson said that new forms of capital can help the commercial insurance market grow from $600bn to $2tn by 2025.

AQR Re Ltd, the Bermuda based reinsurance firm which operates as an affiliate of global investment-management firm AQR Capital Management, has hired a senior retrocessional reinsurance specialist, Martin Vezina, who will take on the role of Chief Underwriting Officer.

French reinsurer SCOR has successfully completed its latest catastrophe bond issuance, a mortality linked deal issued through Irish limited company Atlas IX Capital Limited The transaction provides SCOR with a multi-year source of fully-collateralized retrocessional reinsurance for extreme mortality events such as pandemics.

The insurance-linked securities market is calling for innovators and ‘fast followers’ to drive the sector’s growth forwards, according to a new report from PwC. Innovators will seek out new opportunities for ILS in order to grow the market and the alternative reinsurance capacity it provides.

Here are the top ten articles as viewed by our readers week ending 8th 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 […]

In what could prove to be one of the most important developments in the catastrophe reinsurance market in some time, Property Claim Services (PCS) has announced that it is working with the Cayman Islands Stock Exchange (CSX) on an initiative to launch exchange traded catastrophe derivatives on the CSX.

The catastrophe bond market, currently providing somewhere between $16 billion and $18 billion+ of protection dependent on who you ask, could see rapid growth over the next three years. GC Securities, the ILS and capital markets arm of broker Guy Carpenter, projects that it could reach as much as $23 billion by the end of […]

Competition from third-party and alternative capital in reinsurance is of similar significance to the sector as the emergence of Bermuda as a reinsurance hub and the entrance of its companies over the past two decades, according to Standard & Poor’s in a paper on the global reinsurance sector.

Zurich based PERILS AG, the independent provider of industry-wide European catastrophe insurance data and loss indices, has announced that the total limits at risk which use PERILS industry loss data as at the 1st September 2013 reached $4.3 billion.