Archive for August, 2014

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Golden State Re II workers comp earthquake cat bond launched

A new catastrophe bond transaction, Golden State Re II Ltd., has launched on behalf of the California State Compensation Insurance Fund (SCIF) as it looks to secure more capital market protection for workers compensation claims caused by earthquakes.The SCIF sponsored its first catastrophe bond in December 2011. The $200m read the full article →

A leaderboard of catastrophe bond and ILS issuance banks & brokers

Key activities during issuance of a catastrophe bond or insurance-linked security (ILS) fall to the capital markets divisions of global reinsurance brokers, reinsurers and specialist investment bank units in arranging, structuring and marketing ILS deals.These roles are sometimes shared, with multiple intermediaries or bankers acting as 'joint structuring agents' or read the full article →

Alternative reinsurance capital to fuel M&A deal-making: Fitch

Mergers and acquisitions seem firmly in the reinsurance markets future with excess capital, growing competition and the increasing availability of alternative reinsurance capital seen as a source of fuel for the M&A deal-making fire, according to Fitch Ratings.In its latest report on the reinsurance sector the ratings agency highlights the read the full article →

Blue Capital Global Reinsurance Fund reports NAV up 1.0% in H1 2014

London Stock Exchange listed, Montpelier Re operated, reinsurance linked Blue Capital Global Reinsurance Fund, has reported an increase in its net asset value for the first-half of 2014 of approximately 1.0%, after the impact of dividends declared.The fund, which is managed by Blue Capital Management, the third-party capital and reinsurance-linked investment read the full article →

Asia-Pacific regional reinsurers better positioned to withstand pressure: S&P

Regional reinsurance firms in Asia-Pacific are expected to be able to withstand global competitive pressures, such as increasing reinsurance capacity and pricing pressure, better than peers in Central and Eastern Europe, the Middle East, and Africa (CEEMEA).Ratings agency Standard & Poor's says that it believes that regional reinsurers located in read the full article →

ILS funds return average 0.40% in July, private ILS led the way

The average return of the insurance-linked securities (ILS), reinsurance linked investment and pure catastrophe bond fund market was slightly improved in July, at 0.40%, but the gap between pure cat bond and funds investing in private ILS is widening.The latest data from the Eurekahedge ILS Advisers Index shows that the read the full article →

Hedge fund reinsurers ‘not a new business model’, says A.M. Best

The hedge fund backed reinsurance mode which seeks to leverage premium inflows as investment capital in hedge fund strategies in an attempt to outperform on the asset-side, is not treated as a new business model by rating agency A.M. Best.The hedge fund reinsurer, typically formed by or in cooperation with read the full article →

Weather derivatives trading unit complements Munich Re: S&P

The world’s largest reinsurance firm Munich Re's U.S. weather derivatives and energy commodities trading unit Munich Re Trading LLC complements the reinsurers core operations and is highly strategic to its parent, according to S&P.Munich Re purchased the weather and weather-related energy risk management unit of Bermuda reinsurer RenaissanceRe, RenRe Energy read the full article →

Napa quake insured loss estimated at $1.5B by Credit Suisse ILS team

Insurance linked securities (ILS) investment manager Credit Suisse Asset Management has estimated that the insured loss from Sunday's Napa, California earthquake will come in around the $1.5 billion mark.At this level of insurance industry loss, the ILS manager said that it does not expect any impact to its CS Iris read the full article →

Reinsurance opportunity in sovereign catastrophe risk financing: S&P

Ratings agency Standard & Poor's highlights the opportunity for insurance, reinsurance and the insurance-linked securities (ILS) market to work with governments to provide and support sovereign catastrophe and disaster risk financing tools.The provision of financial tools to help governments manage or transfer their exposure to catastrophe and disaster risks is read the full article →