Archive for March, 2016

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Maturity helps ILS go beyond reinsurance renewal cycle: Cory Anger

The evolution of the insurance-linked securities (ILS) space has seen its sponsors and investors reach an improved level of maturity; understanding that capital markets capacity is available throughout the year and not just around key renewals, according to GC Securities Cory Anger.Speaking with A.M. Best at the 2016 SIFMA IRLS read the full article →

Rate tipping point slows ILS growth, but S&P wary on reinsurer discipline

In a recent report on the global reinsurance sector, rating agency Standard & Poor's discusses the slowdown in the growth of ILS capital, which it said is "not due to lack of interest from investors" but rather indicates a pricing tipping point, in some peril regions.Reinsurance pricing has continued to read the full article →

Pioneer ILS Interval Fund grows assets 27% to hit $96m

U.S. mutual fund manager Pioneer Investments has grown the assets managed within its interval style insurance-linked securities and reinsurance linked investment fund, the Pioneer ILS Interval Fund, by another 27% to reach $96 million in the last quarter.Pioneer Investments, a manager of mutual funds with around $244 billion of assets read the full article →

Florida cat fund (FHCF) to test market for $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) is set to revisit the private reinsurance market in 2016, to test appetite and pricing for a potential renewal of its program which will likely repeat the $1 billion of placement of last year.At a Florida Cabinet meeting on the 29th March 2016, Executive read the full article →

Climate change raises questions about Flood Re funding: Fitch

Uncertainty surrounding climate change and its influence on increased frequency and severity of extreme weather events raises questions about the funding adequacy of the UK’s government-backed reinsurance scheme Flood Re, according to Fitch Ratings.Flood Re remains scheduled for launch in April 2016, in what’s an effort from the UK government read the full article →

Winston & Strawn hires ILS experienced lawyer Andruschak

Experienced financial services attorney and former Mayer Brown partner, Keith Andruschak, has joined the Winston & Strawn Corporate Practice as a partner in New York, an appointment that will enhance the firm’s insurance-linked securities (ILS) and reinsurance capabilities.Andruschak brings more than 20 years of insurance industry advisory and complex transactional read the full article →

Tianjin explosions property insurance loss could reach $3.5bn: Swiss Re

Global reinsurance firm Swiss Re said today that its estimate for the insured property losses resulting from the Tianjin, China port explosions last summer could be as high as $3.5 billion, saying that significant uncertainty remains in the estimates, perhaps suggesting it could creep even higher.The Tianjin port blasts were read the full article →

Alternative reinsurance capital to grow influence in Europe: Berenberg

Analysts at Berenberg have discussed the growing presence of alternative reinsurance capital in European markets, noting a rise in non-insurance entities transferring risk via the capital markets. A trend that could pose a threat to some reinsurers, says Berenberg.With the exception of Eastern Europe the rest of the region continues read the full article →

Record loss frequency in 2015, but only $37bn insured: Swiss Re

In 2015 only $37 billion or 40% of global catastrophe and man-made disaster losses were covered by insurance and reinsurance, according to Swiss Re, representing a coverage gap of 60% and presenting an opportunity to the industry.2015's global insured losses from natural catastrophe and man-made disaster events were significantly below read the full article →

Texas hail insured losses reach $1.1 billion from recent events

Insurance and perhaps reinsurance industry losses from recent hail storm damage in Texas, suffered during outbreaks of severe convective weather in the last two weeks, has reached at least $1.1 billion, according to the Insurance Council.Losses started to mount in March almost a fortnight ago, when hail storms caused by read the full article →