Archive for May, 2017

The California Earthquake Authority’s (CEA) target for its latest catastrophe bond transaction, Ursa Re Ltd. (Series 2017-1), has been lifted significantly with the insurer now aiming for as much as $900 million of capital market backed reinsurance coverage from the deal.

Insurance and reinsurance entrepreneur and Brit co-founder Neil Eckert has been revealed as Chairman of a new venture called IncubEx that will target new product and service development opportunities in partnership with financial service and financial technology firms.

Data from the Bermuda Monetary Authority (BMA) reveals that the total assets of special purpose insurers (SPI’s) licensed in the region increased to roughly $34.34 billion as at December 31st 2015, while capital & surplus also increased when compared with the previous year, to approximately $4.5 billion.

Randall & Quilter, Bermuda based specialist non-life insurance and reinsurance investor, legacy or run-off transaction service provider and underwriting manager (among other things) is targeting growing its program business, through which it can provide reinsurance capital providers with efficient access to re/insurance risk.

Markel CATCo Investment Management Ltd., the retrocessional and reinsurance focused investment manager and part of the Markel group of companies, has announced two underwriting promotions within its executive team.

Here are the ten most popular news articles, week ending 7th May 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 United States has experienced another week where severe convective and thunderstorm weather, as well as flooding is estimated to have caused more than a billion dollars of economic impact, with the insurance and reinsurance industry loss likely another significant to the 2017 toll.

Insurance, reinsurance and financial services group Alleghany Corporation and its reinsurer TransRe’s ownership stake and investment in specialist ILS manager Pillar Capital and its ILS funds delivered an increased contribution to its quarterly results in Q1 2017.

NMI Holdings has successfully completed its first securitization of mortgage insurance risks, with the issuance of the $211.32 million of Oaktown Re Ltd. (Series 2017-1) insurance-linked notes that have secured it a source of reinsurance from the capital markets that also helped free up underwriting capital, according to the CEO.

Financial services and insurance group Markel Corporation said that investment management fees generated by its reinsurance and retrocession linked investment manager, Markel CATCo Investment Management, rose by 30% in the first quarter of 2017.