Archive for October, 2017

AXIS Capital Holdings’ strategic capital partnership activities generated increased fee income for the re/insurer during the first nine months of 2017, as a decrease in profit commissions related to retrocessional agreements in Q3 was offset by more than $9 million in service fees and reimbursement of expenses to its reinsurance segment.

Insurance and financial services giant Markel Corporation reported a dip in investment management fees generated by the collateralized reinsurance and retrocession linked investment activities of specialist manager Markel CATCo Investment Management, in the wake of recent catastrophe losses.

Despite the significant catastrophe losses facing the reinsurance industry, French reinsurer SCOR has reported a profit for the first none months of 2017, as support from its retrocession providers helped the firm to better manage its losses.

Reinsurance giant Munich Re has revealed the scale of the impact of hurricanes Harvey, Irma and Maria, as well as other losses including the Mexico earthquakes this morning, saying it expects its third-quarter major losses will run to approximately EUR 3.2 billion ($3.8bn).

Bermudian insurance and reinsurance specialist Arch Capital Group Ltd. has returned to the capital markets for a third and largest yet in the series of the Bellemeade mortgage insurance-linked securities (ILS) transactions, sponsoring a $368 million Bellemeade Re 2017-1 Ltd. deal.

The insurance and reinsurance industry loss estimate for the series of earthquakes which hit Central Italy between the 26th and 30th October 2016 has risen significantly again, as PERILS AG added another 66% to the total industry bill, taking it to EUR 208 million.

In just the first few days of operation of its ILW focused mutual insurance-linked securities (ILS) fund, Royal Bank of Canada subsidiary City National Rochdale, LLC raised over $15 million, its first report suggests. The asset manager is also set to target reinsurance linked investments and ILS for its other mutual fund strategies as well.

Insurance and reinsurance firm AXIS Capital has hired Brad Livingston, whose career has been focused on ILS with his most recent positon being at Willis Towers Watson Securities, to work on capital market related initiatives at the firm.

Catastrophe risk modelling specialists RMS have hired Pierre Wiart, an experienced ILS sector executive, to open an office in Sydney, Australia, with the goal of helping the risk modeller strengthen its client support in Asia-Pacific and offer advise to local superannuation funds investing in ILS.

Following hurricanes Harvey, Irma and Maria the reinsurance and ILS market is expecting to suffer its largest losses in years, for ILS it is without a doubt the largest aggregate loss the sector has ever faced, but there is currently no sign that investors are fleeing the sector and broker JLT Re expects alternative capital […]