Archive for June, 2015

Pension Insurance Corporation (PIC) has entered into a £1.6 billion longevity reinsurance transaction with the Prudential Insurance Company of America (PICA), the second transaction between the two in recent months.

The scheduled second estimate for insurance industry losses from European windstorms Mike & Niklas has released this morning at €895m by PERILS AG, an increase of 5% since the first loss estimate from back in May.

Here are the ten most popular news articles, week ending 28th June 2015, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

The insurance and reinsurance industry face more disruption over the coming five years than any other commercial sector, according to CEO’s surveyed by PwC in a recent report, which will result in both threats and opportunities.

The $250m Everglades Re Ltd. (Series 2013-1) catastrophe bond, sponsored by Florida’s Citizens Property Insurance Corporation in March 2014, has had its rating upgraded as it has now passed its final reset and there are no more chances to adjust the risk-level.

Legislation has been introduced by Oregon Senator Ron Wyden stipulating rules under which a hedge fund or hybrid investment / underwriting reinsurance firm would have to ensure a certain percentage of its assets were allocated to underwriting at all times.

Dutch insurance, pensions and investments firm Delta Lloyd and Reinsurance Group of America (RGA) have entered into their second index-based longevity swap transaction, which again covers underlying longevity reserves of around €12 billion.

The introduction of the impending Solvency II insurance and reinsurance regulatory environment is likely to be a “major development” for the insurance-linked securities (ILS) market, according to a representative of EIOPA.

The steep decline in rates and pricing for Florida wind property catastrophe reinsurance coverage can be plainly seen in information published by the states Citizens Property Insurance Corporation. Also published are the extent of the savings the insurer made in 2015.

Capital in the international reinsurance industry is more portable and efficient than ever before, thanks to growing interest from investors to access the sector via ILS and other means, according to speakers at a Standard & Poor’s event in London this week.