Archive for January, 2014

The world’s largest reinsurer Munich Re has launched a fully-collateralized reinsurance sidecar, Artemis has learned. The sidecar, named Eden Re Ltd., is $63m in capacity and provides Munich Re with collateralized capacity to support its property catastrophe business.

The regional breakdown of global insured natural catastrophe losses in 2013 was vastly different to that experienced in 2012, as Europe saw significant losses from extreme weather events and the U.S. experienced a benign hurricane season, shows data from Munich Re.

The outlook for the global reinsurance sector in 2014 remains stable, according to ratings agency A.M. Best, despite the overcapacity in the market created by well-capitalised traditional players and the influence of alternative capital.

Blue Capital Reinsurance Holdings Ltd. (BCRH), the New York Stock Exchange listed collateralized reinsurance subsidiary of Bermuda reinsurer Montpelier Re, has established a retrocession agreement giving it access to selected reinsurance business from within the group.

ACE Limited, one of the world’s largest multiline property casualty insurance and reinsurance groups, has announced the launch of its second Altair branded fully-collateralized reinsurance sidecar, named Altair Re II.

International specialty insurance and reinsurance company Argo Group International Holdings has renewed its fully-collateralized reinsurance sidecar, Harambee Re, for the 2014 underwriting year, according to an announcement from the firm.

By the end of 2013 the Bermuda Stock Exchange (BSX) saw the total volume of insurance-linked listings, including catastrophe bonds, insurance-linked securities and reinsurance-linked investment funds, on the exchange hit $9.713 billion, another high.

The influence of the capital markets and alternative reinsurance capital grew in 2013, with new inflows of third-party reinsurance capital during the year at approximately $10 billion, according to data released today by reinsurance broker Guy Carpenter.

French reinsurer SCOR has now issued a press release on its recently launched Atlas Reinsurance X Ltd. fully collateralized reinsurance sidecar, which Artemis covered last week. The reinsurer says the successful launch of the sidecar further demonstrates its access to capital.

Bermuda-based insurance and reinsurance group Arch Capital is set to launch an interesting new, third-party capital backed venture named Watford Re alongside hedge fund and equity investment management firm Highbridge Capital.