Archive for June, 2016

Around $3.2 billion of insurance claims for damage to dwellings from the earthquakes that struck the Kumamoto region of Kyushu, Japan in April, have now been paid, according to data from the GIAJ, as the insurance and reinsurance industry toll rises, but at a steadier pace.

Around twenty years into the convergence of reinsurance and capital markets there is a feeling that the trend is still in its infancy, with the direct connection of capital from institutional and increasingly more private investors to risk having a long future ahead.

The growth of mutual fund and insurance-linked investment manager Stone Ridge Asset Management’s insurance and reinsurance linked assets has slowed in the latest quarter, with the managers ILS assets under management rising by 7% to hit $4.76 billion at the end of April 2016.

Bermuda domiciled ILS asset manager New Ocean Capital Management Limited (New Ocean), gains increased perspective on operations across geographies and perils through its strategic alliance with XL Catlin, according to New Ocean’s CEO Chris McKeown.

Global non-life insurance and reinsurance premiums were up by 3.6% during 2015 to $2.02 trillion, driven by advanced market movements as emerging market performance showed divergent trends, according to global reinsurance giant Swiss Re.

Following the UK’s decision to leave the EU last week, U.S. domiciled law firm Drinker Biddle & Reath LLP has provided some thoughts on what a post-Brexit world may look like for the London and UK market, citing the possibility that it may not be negative for the plans to facilitate ILS business.

Global insurance and reinsurance giant Allianz has restructured the board of its Allianz Global Corporate & Specialty unit, citing the “increasing opportunities for collaboration” between its corporate risk transfer business and its alternative focused Allianz Risk Transfer (ART) unit.

The Pioneer ILS Interval Fund, U.S. mutual fund manager Pioneer Investments interval style insurance-linked securities and reinsurance linked investment fund, has seen its assets increase by 16% to reach $111 million and has returned 6% in the last half-year.

Fintech is, along with Insurtech, a darling of the venture capital world, as technologists and financiers turn their heads towards finance, investment, the insurance and reinsurance market with a vision of changing the status-quo, raising efficiency and replacing incumbents.

Bermuda based total return reinsurance firm Third Point Re has renewed its investment management agreements with Daniel Loeb’s Third Point LLC for a further five years, and added an agreement between the reinsurers U.S. arm and the hedge fund manager.