Archive for July, 2017

Boat Oasis, the multi-peril catastrophe risk modelling platform that operates on the Oasis Loss Modelling Framework (LMF), has expanded the offerings supported on the platform with the addition of risk models for Australian perils from COMBUS and an integration with TigerEye.

Markel Corporation is set to acquire fronting and program service insurance specialist State National Companies, after the pair just announced an agreement that will see Markel acquiring all of the outstanding shares of State National for a total transaction value of approximately $919 million.

Sompo (previously Endurance) owned reinsurance and insurance-linked securities (ILS) investment manager Blue Capital Management is to continue redeeming shares from investors, as a way to provide its third-party investors with guaranteed liquidity opportunities.

In the second-quarter of 2017 Bermuda domiciled reinsurance firm RenaissanceRe (RenRe) resumed its pull-back on catastrophe reinsurance underwriting, with lower catastrophe and managed catastrophe premiums written, but profitability improved including for its third-party capitalised sidecar vehicle, DaVinciRe.

Risks to the electric grid due to severe weather, natural catastrophes and climate change can cause losses in the billions of dollars, and while threats make our energy future more uncertain there is a role for risk transfer and potentially the capital markets in helping to stave off economic disruption.

Insurance-linked securities (ILS), catastrophe bond and reinsurance linked investment specialist Fermat Capital Management, LLC has completed a €10 million private subordinated debt placement for Danish non-life insurer Gefion Insurance A/S.

The capital markets and fully-collateralized reinsurance capacity have helped reinsurer Everest Re achieve continued growth, by adding to its available capacity to help it underwrite more premiums across the group and at the same time increasing the firms net margins.

The latest catastrophe bond that will provide a source of reinsurance risk transfer for Mexico’s Fund for Natural Disasters (El Fondo de Desastres Naturales), the IBRD / FONDEN 2017 multi-peril cat bond, has secured its targeted $360 million size, while the pricing has now been fixed at the lowest end of reduced guidance.

In order for insurance-linked securities (ILS) and capital market investors to increase their prominence in Asia education remains a key issue, as too does the ability for the symbiotic relationship between traditional and alternative to be fostered in order to help regional cedents understand the relevance of ILS to their risk transfer needs.

Ratings agency Standard & Poor’s has upgraded one of the three tranches of notes issued in U.S. primary insurer Allstate’s $750 million Sanders Re Ltd. (Series 2014-1) catastrophe bond, as the tranche has now passed its final reset date without the expected loss having been increased.