Archive for December, 2013

ILS Bermuda, an organisation which brings together a number of key players based in, or with interests in, Bermuda and activities in the reinsurance convergence and insurance-linked securities (ILS) space, is planning its second event, Convergence 2014.

Goldman Sachs analysts have published a cautious outlook for the U.S. property & casualty insurance sector for 2014. The analysts say that momentum is slowing which, with catastrophe losses low and reserves high, shows a narrowing window for outperformance.

The risk that insurers and reinsurers fear the most is the outbreak of a global pandemic, according to the results of a survey undertaken by professional services firm Towers Watson recently.

Risk modelling firm AIR Worldwide has released an estimate of the insurance industry losses from last weeks European windstorm Xaver. AIR estimates an insured loss of €700m to €1.4 billion but only from Xaver’s wind impact, not including surge or flood.

Ratings agency A.M. Best said that it will keep the financial strength and issuer credit ratings of hedge fund backed reinsurer SAC Re under review with negative implications until the deal announced on Monday closes and the reinsurer becomes Hamilton Re.

Insurance-linked securities (ILS) and reinsurance-linked investment manager Credit Suisse has issued its first estimate for the insurance industry loss tally likely to stem from last week’s European windstorm Xaver.

Reinsurance firm Swiss Re is continuing to seek investment support for its Admin Re unit, with third-party capital providers an option it is open to, according to the reinsurers CEO Michel Liès.

You know a sector is gaining traction, experiencing growth, rising in profile and becoming more mainstream when the regulators express an interest. In 2013 it has been the turn of insurance-linked securities (ILS), catastrophe bonds and alternative reinsurance capital.

Yesterday saw the issuance of the final ruling developed by five U.S. government agencies to implement the Volcker Rule, which is section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Reinsurer Swiss Re is to utilise an early redemption clause on two more tranches of mortality catastrophe bond notes issued through Vita Capital IV Ltd. This will take the number of tranches redeemed to four out of the six issued under this mortality cat bond program.