Archive for September, 2016

The CATCo Reinsurance Opportunities Fund Ltd. has reported the establishment of a specific loss reserve, or side pocket, for potential business interruption, joint hull and machinery claims due to the Jubilee oil field, Ghana, FPSO industry loss event.

Markus Schmutz has joined boutique insurance and reinsurance-linked securities (ILS) structuring and distribution firm Rewire Securities LLC as a Partner, bringing significant experience from his time at Swiss Re Capital Markets.

Demonstrating the appetite for catastrophe bond investments, the latest transaction to come to market from regular catastrophe bond sponsor Zenkyoren, Nakama Re Ltd. (Series 2016-1), has more than doubled in size to hit $700m during marketing.

Here are the ten most popular news articles, week ending 18th September 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.

The influence of alternative capacity on the peaks and troughs of the underwriting cycle have been over exaggerated, according to Jean-Louis Monnier, Co-Head of ILS at Swiss Re Capital Markets and global head of ILS structuring.

The adoption of distributed ledger technology such as the blockchain could improve the efficiency of risk capital, in insurance, reinsurance and ILS markets, by reducing frictional costs, Bermuda Business Development Agency (BDA) CEO Ross Webber said.

As expected, primary insurance giant AIG has sold its interest in Ascot Underwriting Holdings Ltd. and its syndicate-financing subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB).

ILS fund managers will experience ongoing growth and become increasingly influential in the global reinsurance market, rating agency A.M. Best expects, with more collateralised reinsurance placements for non-peak risks likely to be ceded to the capital markets and ongoing growth elsewhere in ILS.

A recent report from Willis Towers Watson shows that companies that can be seen to outperform the market are making use of reinsurance and insurance-linked securities (ILS) to improve their capital management.

One again the secondary market for catastrophe bonds remained characterised by very strong demand in August, with more buying interest than selling driving prices again. However some sellers were seen providing fund managers and investors with opportunities to diversify.