Archive for February, 2017

While Kinesis, the third-party reinsurance capital vehicle of specialist London and Bermuda insurance and reinsurance underwriters Lancashire Holdings, remains relatively flat in terms of growth, it is primed and ready should there be an opportunity to raise more capital.

An index-based livestock insurance program in Kenya, which was launched with the backing of the World Bank and with reinsurance from Swiss Re, has been triggered and will pay out $2 million to farmers hit by drought.

Florida’s United Insurance Holdings has reported a loss for the fourth-quarter of 2016 and a much reduced profit for the full-year after catastrophe losses took the firm to an underwriting loss, but its reinsurance providers, including ILS fund managers, who will take a significant share.

The Cayman Islands has made some changes to its regulatory framework for catastrophe bonds, with a new fast-track license approval process that aims to streamline the issuance of cat bonds registered in the domicile.

Fees charged, the education of stakeholders and understanding the risks are key challenges investors in today’s sophisticated insurance-linked securities (ILS) market are faced with when allocating to the space, according to a report by Clear Path Analysis.

At a recent meeting in the Philippines, the ASEAN group of countries agreed further cooperation on disaster risk and insurance in the region, with a regional risk pool one of the stated goals to help access to reinsurance markets be made more efficient.

A severe summer hailstorm that struck Sydney and parts of New South Wales Australia on Friday and Saturday already has an insurance industry loss estimate of AU$42 million pegged against it, while losses from bushfires in NSW have also risen.

Keane Driscoll, Chief Executive Officer (CEO) of Validus Re, the reinsurance arm of Validus Group, expects to see an uptick in catastrophe bond issuance in the coming months as the appetite for insurance-linked securities (ILS) investment persists.

Here are the ten most popular news articles, week ending 19th February 2017, 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.

Global specialty insurance and reinsurance firm Brit Ltd. has increased its use of quota share reinsurance, increasing its expenditure on cover by $62.6 million as it seeks to take advantage of still declining rates to better manage its net position.