Archive for December, 2016

The January 1st 2017 reinsurance renewals are taking longer to come to market and to close, resulting in a more delayed renewal than seen in recent years but with the market remaining orderly, according to analysts at KBW.

The London insurance and reinsurance market will see continued price softening in 2017, albeit at a reducing pace, according to PwC, which the consultancy believes will result in around a third of the market experiencing an underwriting loss next year.

Failure from the London marketplace to create a competitive insurance-linked securities (ILS) regime will be a “massively missed opportunity” that will most likely see another jurisdiction fill the void, according to Des Potter, Head of GC Securities, EMEA.

Investment banking group J.P. Morgan has sold off its entire portfolio of catastrophe bonds and other insurance-linked securities (ILS), citing its opinion of “value in the space” as the reason. Artemis understands portfolio manager Kyle Freeman is moving on from the company at the end of this year.

Bart Hedges is leaving hedge fund backed reinsurance firm Greenlight Re, stepping down from his Chief Executive Officer position as of March 31st 2017 and also from his Board position at the reinsurer.

Reinsurance giant Munich Re has sponsored and listed another tranche of participating notes from its Eden Re II Ltd. collateralised sidecar vehicle, with $101.4 million of Series 2017-1 Class A notes admitted to the Bermuda Stock Exchange (BSX).

Prem Watsa’s Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited is set to acquire Allied World Assurance Company Holdings, AG for $4.9 billion after the pair entered into a merger agreement.

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

Assicurazioni Generali will secure an upsized €255 million (approx US$266m) of fully collateralised reinsurance cover for motor third-party liability loss ratio deterioration, after its innovative Horse Capital I DAC ILS or catastrophe bond like transaction grew by 42% at pricing.

Analysis and accompanying reports from ClimateWise stress the need for the insurance industry to do more to close the $100 billion annual climate risk protection gap, which, presents an opportunity for the insurance, reinsurance, and insurance-linked securities (ILS) space to improve protection and resilience.