Archive for June, 2015

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Swiss Re in first-of-its-kind index-based wind farm weather hedge

Swiss Re Corporate Solutions, a division of the global reinsurance firm, has provided Infigen Energy with a pioneering wind farm hedge, protecting it across areas of Southern Australia, New South Wales and Western Australia from low-wind weather cycles.Swiss Re described the new transaction as the first-of-its-kind, as unlike other, traditional read the full article →

London has to fight its corner on ILS: Michael Wade, Cabinet Office

The London insurance and reinsurance market has to fight its corner if it is to remain the leading center for risk and that includes fighting to attract ILS business to its shores, according to the UK's Crown Representative for Insurance Michael Wade.London needs to ensure it is part of the read the full article →

Stone Ridge ILS & reinsurance assets near $3.3bn, up 9.4%

Insurance-linked securities (ILS) and reinsurance linked assets under management at New York based Stone Ridge Asset Management, the beta and alternative risk focused mutual fund manager, have neared $3.3 billion, up 9.4% in three months.Stone Ridge's growth has slowed in recent months, perhaps a reflection of the softened reinsurance market read the full article →

Jared Madea joins TigerRisk Capital Markets & Advisory from Willis

TigerRisk Partners LLC has hired an insurance and reinsurance capital markets and investment banking executive from rival Willis, adding Jared Madea to the privately held risk/capital management and strategic advisory firm's TigerRisk Capital Markets & Advisory unit.In the new role Madea will advise insurance and reinsurance firms on mergers and read the full article →

PartnerRe unimpressed with EXOR’s expanded completion guarantee

Following on the heels of EXOR's announcement yesterday that it was "expanding its legally binding guarantee for the transaction", reinsurance firm PartnerRe responded saying that the modifications to its offer fail to address the risks.PartnerRe said that, despite the expanded guarantee of completing the acquisition,  it "continues to believe that EXOR’s offer poses significant read the full article →

Willis & Towers Watson to merge creating $18bn broking giant

Consolidation is once again in the news as it is announced that insurance and reinsurance broker Willis Group is to merge with global professional services firm Towers Watson, to create an $18 billion broking, advisory and professional services giant.The result will be an $18 billion firm named Willis Towers read the full article →

Collateralized note helps Aus / NZ insurer Youi access ILS investors

A new Australia and New Zealand focused insurer named Youi has tapped the ILS market for protection, thanks to the transformation of a collateralized reinsurance contract into note form, enabling Youi's risk to be broadly syndicated to ILS investors.Primary insurer Youi Pty Ltd, which operates as a homeowner and auto read the full article →

EXOR sweetens PartnerRe offer with completion guarantee

Italian investment holding company EXOR has announced that it is enhancing its all-cash offer for reinsurance firm PartnerRe by "expanding its legally binding guarantee for the transaction" which it says provides greater completion certainty.It's the first time EXOR has sought to provide additional comfort for PartnerRe shareholders by providing more read the full article →

Panda Re Ltd. 2015-1, the first cat bond covering Chinese perils

Another milestone has been reached for the catastrophe bond and insurance-linked securities (ILS) market, with the introduction of the first cat bond covering Chinese perils. The Panda Re Ltd. (Series 2015-1) deal covers Chinese quake risks on an indemnity basis.Details on the transaction are limited due to this being a read the full article →

Steve Hearn leaving Willis to be CEO at Cooper Gay Swett & Crawford

Steve Hearn, Deputy CEO at insurance and reinsurance broker Willis Group Holdings, is leaving the broker to move to competitor Cooper Gay Swett & Crawford to take up the Group CEO role in November of this year.It's the latest senior shake-up in the insurance and reinsurance broking sector this year read the full article →