Archive for February, 2017

Arcus 1856, the Lloyd’s of London syndicate backed with capital from funds under management by the Credit Suisse insurance and reinsurance linked investment strategies team, has appointed Gary Delaney as syndicate manager.

Jay Nichols has resigned from his position as CEO of AXIS Re, the reinsurance division of AXIS Capital Holdings Limited, a role that has seen him develop third-party capital strategies at the firm as it adapted to the changing market.

Risk modelling and risk analytics firm RMS has hired Mike Pritula, a former McKinsey alumni, as its President, strengthening the executive bench at the company.

A significant volume of alternative reinsurance capacity is waiting on the sidelines, ready to flood the specialist Lloyd’s of London insurance and reinsurance marketplace after the next major loss, according to analysts at Peel Hunt.

Insurance industry losses due to bushfires in the New South Wales region of Australia are expected to rise above an initial AU$20 million estimate, as the Insurance Council of Australia declares a catastrophe for the event.

Total return reinsurance vehicle Watford Re, part-owned and operated by re/insurer Arch Capital Group with asset management provided by Highbridge Principal Strategies, delivered a positive total return in the fourth-quarter of 2016 thanks to its investment performance.

Taking advantage of the interest to allocate capital to generate reinsurance underwriting returns shown by third-party capital investors could be a key driver of success for re/insurers, at a time when underwriting ability is increasingly important, says A.M. Best.

By the end of 2016, ILS and alternative reinsurance capital rose to a record estimated $78 billion, but this growing pool of capital needs to find opportunities to be put to work in insurance and reinsurance risks and one area of opportunity could be in providing pandemic coverage.

Insurance and reinsurance industry losses from convective storms in the U.S. appear to be accelerating in 2017, with Aon Benfield’s Impact Forecasting unit expecting losses will “well exceed” $100 million from events in the past week, on top of a very active January.

Insurance-linked securities (ILS) and catastrophe bond investors will be able to take advantage of a robust primary and secondary market in 2017, driven by the expectation of an active start to the year, says Aon Securities.