Archive for September, 2017

Specialty Lloyd’s of London managing general agent (MGA), Sciemus, has announced a new investment partnership with HSCM Bermuda, the ILS, reinsurance and transportation finance investment firm established by ex-Goldman Sachs structured finance head Michael Millette, and also secured a financial investment from HSCM Bermuda’s clients.

The talk of the morning is one of stabilising property reinsurance pricing following the impacts of hurricanes Harvey and Irma in the last fortnight, with some analysts even suggesting a little localised firming in specific pockets of the market.

PERILS AG, the provider of industry loss data and indices for use as risk transfer triggers, has reported healthy growth in the limits at risk using its services, expanding them 17% over the last year to reach $3.1 billion, with the growth attributed to expansion into Australia and Turkey.

Hurricane Irma slammed into Florida on Sunday as a Category 4 storm with 130 mph winds, hitting the Florida Keys first before making a second landfall on the southwest coast of the Peninsula. Coastal flooding from storm surge has been reported on both coastlines, including areas such as the Miami Brickell district.

At the Monte Carlo Reinsurance Rendez-vous event a working prototype of a blockchain powered reinsurance transaction platform was launched by the group of fifteen global insurers and reinsurers that make up the B3i (Blockchain Insurance Industry Initiative).

In an interview with Artemis, Directors of S&P Global Ratings’ reinsurance analytical team have discussed pricing in the global reinsurance sector as the January 1st, 2018 renewals season approaches. The prospects of insurance-linked securities (ILS) were debated, as well as other burning industry topics, such as new business lines, pressured markets, and the impact of […]

We should expect the insurance-linked securities (ILS) sector and its pool of alternative reinsurance capital to be larger post-major catastrophe events, than before it. As investors stand ready to launch new structures and deploy post-event capacity, according to Paul Schultz, CEO of Aon Securities.

HSCM Bermuda, the ILS, reinsurance and transportation finance investment firm established by ex-Goldman Sachs structured finance head Michael Millette, has announced that it both structured and executed a series of financings for Seeman Holtz Property & Casualty, Inc. (SHP&C).

GC Securities, the capital markets unit of reinsurance broker Guy Carpenter, and Marsh Captive Solutions have jointly launched Cerulean Re, a collateralized reinsurance platform designed to make it simpler and more efficient for cedents to access collaterlized capacity or issue private catastrophe bonds.

Risk modelling experts at RMS have estimated the industry loss from hurricane Harvey’s impacts to both private and public insurance and reinsurance interests at up to $35 billion, with an upper bound of $40 billion, and up to $10 billion expected to fall to the National Flood Insurance Program (NFIP).