Archive for April, 2017

NMI Holdings, Inc. has announced today that it is to launch a new mortgage insurance-linked securities (ILS) transaction, as it looks to secure reinsurance by transferring some of the risks associated with a portfolio of mortgage insurance policies to the capital markets.

The insurance and reinsurance industry loss from global catastrophe events in the first-quarter of 2017 has increased further to $9.6 billion, and the final Q1 toll could creep higher in the coming weeks, according to reinsurance broker Aon Benfield.

The majority of the pricing marks for the $210 million Integrity Re Ltd. (Series 2017-1) catastrophe bond transaction are now fixed at the bottom of reduced guidance, as the deal sponsored by American Integrity Insurance Company of Florida, Inc. looks set to secure efficiently priced collateralized reinsurance capacity.

It now appears that the full $35 million of investor principal retained from the triggered Gator Re Ltd. catastrophe bond will be paid out to sponsoring insurer American Strategic Insurance Corp., as the latest estimate of qualifying losses has moved more than that amount above the attachment point now.

Nephila Capital, the largest reinsurance linked investment manager, is backing Alternus a new commercial property insurance facility underwritten by the Schinnerer Group and brokered by Marsh, bringing alternative reinsurance capacity to a retail solution for U.S. company property portfolios.

Here are the ten most popular news articles, week ending 23rd April 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.

The UK’s insurance-linked securities (ILS) regulations will have their publication delayed, after Prime Minister Theresa May announced a snap election this week which means Parliament will not be able to consider the regulations until a new Parliament is convened after the vote.

Broker Aon Benfield has said that it expects that ceding companies will be able to capitalise on the strong levels of capacity and competition in the reinsurance market to secure further improvements in pricing, terms and conditions at the upcoming mid-year 2017 renewal season.

Tropical storm Arlene formed yesterday in the Atlantic, bringing an early start to the 2017 Atlantic tropical storm and hurricane season and becoming only the second April named tropical storm in the Atlantic basin since tracking with satellites began.

The powerful magnitude 7.8 earthquake that struck Ecuador just over a year ago is now expected to result in an insurance industry loss of $575 million, with reinsurance markets having taken a share. However the overall economic impact to the country had been put at over $4 billion, reflecting the protection gap in Latin America.