Archive for January, 2014

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ACE prepared to shed more reinsurance business to maintain profit

Evan Greenberg, CEO of ACE Limited, one of the world’s largest multiline property casualty insurance and reinsurance groups, said the firm was prepared to shed business in order to maintain profit in the softening market.Greenberg made these comments in ACE's fourth quarter earning call and it's expected that other reinsurers read the full article →

Baillie Gifford takes 7% share in Blue Capital Reinsurance Holdings

Investment manager Baillie Gifford, who are headquartered in Edinburgh, Scotland, have once again demonstrated their appetite for reinsurance linked investments by taking just over 7% of the shares available in Blue Capital Reinsurance Holdings Ltd. (BCRH).Blue Capital Reinsurance Holdings Ltd. (BCRH), the NYSE exchange listed collateralized reinsurance subsidiary of Bermuda read the full article →

ILS market transformed into a driver of reinsurance rates in 2013

The insurance-linked securities (ILS) and catastrophe bond market transformed from an alternative source of reinsurance capacity into a driver of rates in 2013, according to the insurance and pension solutions team at Deutsche Bank.This is an insightful spot by the team at Deutsche Bank. ILS and catastrophe bonds have long read the full article →

Pension funds still only dipping their toes into ILS and reinsurance

Pension funds are still only dipping their toes into insurance-linked securities (ILS), reinsurance linked investments and catastrophe risks as an asset class, despite the amount of capital they contribute to the space being meaningful.Artemis has written before that it is still early days for pension funds as investors into ILS read the full article →

New Florida reinsurance demand could generate $300m of premium

The increased need for reinsurance coverage resulting from new initiatives aiming to put more of the risk in the private or ILS market will amount to around $318m of new premium income to be split between traditional reinsurers and third-party capital, say analysts.Analysts from the equities research team at Macquarie read the full article →

Mercury investible Catastrophe Risk Index returns 15.8% in 2013

The Mercury investible Catastrophe Risk Index, or MiCRIX for short, one of the indices that we play host to here on Artemis, has seen near record performance in 2013, returning 15.8% for the full year.The MiCRIX, an index established by Bermuda based insurance-linked securities and industry loss warranty investment manager Mercury read the full article →

More state & government backed catastrophe bonds expected: Fitch

We should expect to see more catastrophe bonds being issued by state and government backed insurance entities in the future, as investor demand remains high and costs of sponsoring a cat bond come down, according to Fitch Ratings.With the price declines on catastrophe bond rates, more options for cheaper ways read the full article →

Speed of ILS and cat bond rate decline slowed in Q4 2013

The speed of insurance-linked securities and catastrophe bond rate declines slowed in the fourth-quarter of 2013, but still rates dropped to their lowest level since before hurricane Katrina struck, according to data from ILS consultancy Lane Financial LLC.This measurement of ILS and cat bond market rates and their trajectory is read the full article →

2014 may be a pivotal year for catastrophe bonds and sidecars: Willis

The coming year of 2014 may prove to be a pivotal one for the catastrophe bond and sidecar market, as the shakeout between traditional and alternative reinsurance capital continues, according to Willis Capital Markets & Advisory.WCMA, the capital markets unit of global insurance and reinsurance broker Willis Group, has published read the full article →

Catastrophe loss modelling framework Oasis launches

The Oasis Loss Modelling Framework, a not-for-profit company backed by 21 insurers, reinsurers and brokers, including Lloyd’s and leading European and North American players, has launched and is now ready for use.The initiative was announced back in 2011 at the Monte Carlo Rendezvous and for the past two and a read the full article →