Archive for September, 2017

ILS and reinsurance linked investment manager Twelve Capital has said that there could be private ILS transactions, usually collateralized reinsurance arrangements, which are potentially exposed to last Friday’s magnitude 8.1 earthquake that struck off the coast of Mexico.

HSCM Bermuda (Hudson Structured Capital Management), the ILS, reinsurance and transportation finance investment manager set up by ex-Goldman Sachs structured finance head Michael Millette, has led a reinsurance deal for high-profile insurtech company Metromile.

The first marine and energy industry loss warranty (ILW) transaction has been traded using the PCS Global Marine and Energy non-elemental industry loss index service, with insurance and reinsurance linked investment manager Twelve Capital providing the capacity to back the deal.

Secondary trading activity in catastrophe bonds has remained light following the landfall of hurricane Irma, even though some broker desks accepted enquiries over the weekend. Not many positions have changed hands, but notable is the price recovery of the Citrus Re 2017 cat bond and the fact a Citrus Re 2015 and 2016 trade saw […]

As the magnitude of hurricane Irma’s impact to catastrophe bonds and the size of the eventual insurance and reinsurance loss became clearer yesterday, cat bond fund managers have reduced their expectation of suffering a major loss, with now just a handful of bonds thought most at risk.

The overall size and scale of a reinsurance partner is deemed less important than having a well-diversified panel of reinsurers, according to a survey of European reinsurance buyers and brokers.

Irma is set to be a material loss for the insurance and reinsurance industry, with ILS markets anticipating one of the most significant events to hit the sector, said David Priebe, talking to Artemis on the Sunday morning of the Rendez-Vous event in Monaco.

The insurance-linked securities (ILS) market is expecting pay its share of losses from recent catastrophe events, perhaps the most significant losses in the sectors 20 or more year history. But participants say they stand ready to support clients and explained today that it’s how the market reacts that matters.

AIR Worldwide has reduced its estimate for insurance and reinsurance industry losses from hurricane Irma’s impacts in the United States, putting it in a range from $20 billion to $40 billion.

London has the potential to become the international hub for innovative insurance-linked securities (ILS) transactions so long as the UK regulator shows support, according to Des Potter, Head of GC Securities, EMEA, Guy Carpenter.