Archive for January, 2016

The second in this series of articles, featuring the thoughts of leading figures in insurance-linked securities (ILS) and reinsurance on the market as we move into 2016, features Michael Stahel, Partner at LGT ILS Partners Ltd.

According to China’s government Ministry of Civil Affairs, natural catastrophes and severe weather events cost the country a huge $41 billion of economic losses in 2015, a number that is far above the total covered by insurance and reinsurance.

As the global threat of terror attacks remains heightened following a series of high-profile events in 2015, PCS has been working closely with sister company Verisk Maplecroft to establish a parametric-style trigger for terror ILWs, the firm said.

While the generally accepted view is that insurance-linked securities (ILS) capacity and alternative capital are largely restricted to the well-modelled U.S. and other peak peril zones, evidence from the January renewals shows that the ILS market is expanding its reach.

Global reinsurance company Munich Re has now listed the second privately placed $284.422 million tranche of Series 2016-1 Class B Section 4(a)(2) notes from its recent Eden Re II Ltd. collateralised reinsurance sidecar issue on the Bermuda Stock Exchange (BSX).

Insurance and reinsurance linked investment manager Twelve Capital continues to provide investors with access to insurance-linked returns across the balance-sheet, announcing a new private debt investment today.

2015’s catastrophe, natural disaster and severe weather events around the globe resulted in insurance and reinsurance industry losses of $35 billion, which is 31% below the 15 year average of $51 billion and the lowest annual insured loss since 2009.

French reinsurance company SCOR said that the $300 million size of its recently completed Atlas IX Capital DAC (Series 2016-1) catastrophe bond, which replaced a $60 million tranche of a matured cat bond, reflects the firms increased presence in the U.S. catastrophe risk market.

Brit, the global specialty insurance and reinsurance firm with a large presence at Lloyd’s, has renewed its fully collateralised reinsurance sidecar SPI Versutus Ltd. for the 2016 underwriting year, at a 10% increased size of $82.5 million.

AlphaCat Managers Ltd., Bermuda based insurance and reinsurance group Validus’ ILS and third-party capital manager, has grown its assets under management to $2.4 billion at 1st January 2016, representing over 71% growth year-on-year and strong fund-raising towards year-end.