Archive for October, 2013

Sirius Capital Markets LLC, the newly formed insurance-linked securities (ILS) and third-party reinsurance capital asset management arm of White Mountains Insurance Group, Ltd., is preparing to launch its first ILS fund later this year and to raise capital from external investors.

The AlphaCat third-party reinsurance capital management unit of Bermuda domiciled insurance and reinsurance group Validus Holdings grew investor contributions slightly during the third-quarter bringing its AlphaCat third-party assets under management to just shy of a billion at $995m.

Scott Carmilani, the CEO of insurance, reinsurance and financial services group Allied World Assurance Company (AWAC) said recently that the ILS and third-party capital manager Aeolus, that AWAC bought a stake in last December is having an extremely good year in 2013.

Zurich based PERILS AG, the independent provider of industry-wide European catastrophe insurance loss data and indices, told Artemis this morning that it will assess the potential for European windstorm Christian to cause a sufficient market-wide insured loss to qualify for full reporting.

The Royal Bank of Scotland (RBS) Group pension fund has demonstrated its appreciation of reinsurance and insurance-linked securities as an alternative asset class by increasing its allocation to ILS fund managers by 36% during the pension funds last financial year.

Here are the top ten articles as viewed by our readers week ending 27th October 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 […]

A European windstorm which formed in the mid-Atlantic from remnants of tropical storm Lorenzo which merged with a weather front that moved offshore of Canada has been named Christian and now threatens the UK and northern Europe with damaging winds gusting to 80 mph or more.

According to the results of a survey released today more life insurance companies are buying reinsurance protection, with Solvency II suspected a key driver of sales, but it has not yet resulted in increased issuance of life insurance-linked securities (ILS) or mortality catastrophe bonds.

The contribution made to Bermuda domiciled insurance, reinsurance and third-party reinsurance capital management group Validus Holdings, by its AlphaCat third-party capital management segment has increased dramatically over the first nine-months of 2013.

Bermuda based reinsurance firm Everest Re continues to approach capital markets investors to raise funds for its Mt. Logan Re sidecar and expects to meet, or possibly even exceed, its initial target of raising $250m of third-party capital by the end of 2013.