Archive for November, 2013

Bermuda based Equinoxe Alternative Investment Services Ltd., a provider of administration services to investment funds, is expanding its footprint around the world with new offices and has grown its insurance-linked securities assets under administration to $2.1 billion.

The DCG Iris insurance-linked securities fund, marketed and operated by Dexion Capital with Credit Suisse providing ILS asset management and listed on the London Stock Exchange, is now just under £7.7m larger after the completion of its latest share placement.

U.S. primary insurer and military focused mutual insurer USAA is returning to the catastrophe bond market once again with a dual-tranche Residential Reinsurance 2013 Ltd. (Series 2013-2), offering investors both high and low yield opportunities.

As we approach the last weeks of a relatively benign Atlantic hurricane season, which officially ends 30th November, we shift our thoughts across the world to the potential devastation that may be caused by Super Typhoon Haiyan in the coming hours.

Risk modelling firm AIR Worldwide has become the first of the risk modellers to provide an estimate for insured losses resulting from the recent European windstorm Christian. AIR gives an estimated range of insured losses of €1.5 billion to €2.3 billion.

We could soon see the launch of the first Scandinavian based insurance-linked securities and catastrophe bond fund manager, if the efforts of a Swedish manager and his team are successful.

Bermudian reinsurer RenaissanceRe is working to expand its activities in the retrocession space through the renewal and expansion of its Upsilon Reinsurance sidecar series, as it attempts to capture what it sees as attractive opportunities in the retro reinsurance market.

Bermuda headquartered insurance and reinsurance group AXIS Capital Holdings Limited will take its time expanding into the third-party capital management and insurance-linked securities space, preferring to see its efforts as a long-term play, according to CEO Albert Benchimol.

As the world’s largest reinsurers announce third-quarter results, which saw both Munich Re and Swiss Re’s Q3 net profits fall, the two global reinsurers stated that the impact of insurance-linked securities (ILS) on their business was ‘only moderate’ and ‘not fundamental’.

With its Kinesis Capital Management unit, and its Kinesis Re collateralized reinsurance vehicle, Lancashire Holdings aims to offer a niche product which has unique features within the alternative reinsurance capital, collateralized reinsurance and ILS space.