Archive for April, 2016

U.S. military mutual insurer USAA is targeting an upsized $250m at lower and tightened pricing for its newest and 27th catastrophe bond, the three tranche, Residential Reinsurance 2016 Limited (Series 2016-1).

Mt. Logan Re, global reinsurance firm Everest Re’s fully collateralized reinsurance sidecar type vehicle and segregated accounts management unit, has announced a senior hire in the appointment of ex-AIG executive Michael Beck to Chief Operating Officer (COO).

Recent P&C market commentary from Credit Suisse highlights outsized catastrophe losses for insurers from Texas hailstorms in March, suggesting that the overall industry loss, and any reinsurance or ILS impact, from these events could be higher than estimates suggest.

Harrington Re Ltd., the start-up total return style reinsurance venture from re/insurer AXIS and alternative asset manager Blackstone, will have a flexible investment strategy, helping it to optimise both sides of the balance-sheet, after it completes a proposed capital raise of $850m.

Proposed revisions of A.M. Best’s Capital Adequacy Ratio (BCAR) has the potential to positively and negatively impact demand for reinsurance and insurance-linked securities (ILS) capacity, according to Willis Capital Markets & Advisory (WCMA).

Here are the ten most popular news articles, week ending 24th April 2016, 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.

Insurance and reinsurance group Aspen has shifted more of its property catastrophe reinsurance underwriting over to third-party capital managed in its alternative capital management and insurance-linked securities (ILS) unit, Aspen Capital Markets, according to executives at the firm.

Global reinsurance broker Guy Carpenter has announced that Peter Stubbings has been promoted to lead its Bermuda office retrocession and international treaty reinsurance practice as CEO, and that Richard Keegan has been hired as Senior Vice President.

Bermuda domiciled re/insurer Everest Re has stressed the importance of thinking outside the box to create opportunities in the marketplace, underlining the benefits of its collateralized reinsurance sidecar vehicle Mt. Logan Re Ltd., which helps the firm write business.

Alternative reinsurance capital growth outpaced traditional reinsurance in 2015, increasing 21% to reach $70 billion. A decline in traditional reinsurance capacity was offset by continued expansion of ILS, helping total reinsurance capital grow to $427 billion, according to Willis Re.