Archive for March, 2017

UK closed life and pension fund consolidator Phoenix Group has unwound its 2014 £900 million longevity swap transaction with the help of Aon Hewitt, shifting to an annuity arrangement which it received beneficial pricing on thanks to having the swap arranged in advance.

Artemis recently spoke with Megan McConnell, Active Underwriter at Lloyd’s of London ICAT Syndicates 4242 and 6123, following the successful issuance of its first 144A catastrophe bond, Buffalo Re Ltd. (Series 2017-1).

A new study from Conning found that reinsurance companies are under pressure from all angles alternative, with the capital markets, captives and government-sponsored entities all taking risk that was once their domain.

Specialist London headquartered insurance and reinsurance linked securities investment management firm Leadenhall Capital Partners has hired Adrian Mark as an Analyst within the ILS managers Non-Life Investments team.

The Blue Capital Global Reinsurance Fund, the London and Bermuda stock exchange listed reinsurance linked investment fund managed by the Endurance owned Blue Capital Management, has announced it is to redeem almost $13.14 million of shares from its investors.

Global reinsurance specialist Everest Re is returning to the catastrophe bond market seeking $600 million or more of retrocessional protection split between two series of Kilimanjaro II Re Limited cat bonds, in 2017-1 and 2017-2 issues.

The presence of institutional investor backed capacity from the capital markets, wielded by the world’s leading ILS fund managers is being felt in the U.S. primary commercial property insurance market, according to Standard & Poor’s.

Collateralized reinsurance markets and ILS funds have significantly increased their share of the insurer Heritage’s risk transfer program, with a number of new ILS managers featuring in the company’s latest reinsurance program disclosure.

The excess demand for investments in catastrophe bonds has begun taking its toll on the secondary market in 2017 already, beginning to push prices higher as issuance in the primary market fails to keep up with demand.

Pressure on reinsurance rates is unsustainable over the long-term, despite ceding companies desire to take advantage of soft market conditions A.M. Best believes, but the changes in buying and market dynamics are likely to result in a changed cycle.