Archive for November, 2017

Centaur Fund Services, a fund administration service provider including to the insurance-linked securities (ILS) fund market, has announced the appointment of Neil MacGuinness to the role of Head of Investor Services at its Centaur Fund Services (Bermuda) Limited unit.

Reinsurer RenaissanceRe (RenRe) has revealed that it ceded more than two-thirds of its gross losses from Q3 events to retrocessionaires and third-party investors, which includes a roughly $500 million collateralised reinsurance recovery.

BlueMountain Capital Management, LLC, a diversified alternative asset manager with over $21 billion of assets, has hired well-known insurance-linked investments specialist Al Selius to run its portfolio of insurance and reinsurance linked assets.

Property and casualty insurance company United Insurance Holdings (UPC Insurance) has passed the majority of its losses from hurricanes Harvey and Irma to its reinsurance capacity providers, with the ILS fund market providing a significant amount of support, as its program is roughly 85% collateralized.

U.S. primary insurer Federated National Holding Company (FedNat) reported that it eroded roughly 20% of its $1.5 billion of per-event reinsurance cover in paying claims from hurricanes Harvey and Irma, which the capital markets and ILS funds will have supported due to the insurers use of collateralized protection.

Hiscox Group, the specialist insurance and reinsurance firm, has experienced further growth in its Hiscox Re ILS funds in the last quarter, but following the major catastrophe losses is witnessing “material hardening” with some property catastrophe reinsurance rates expected to be up as much as 30%.

Catastrophe exposed property insurance pricing is expected to rise anywhere from 10% to as much as 25%, depending on whether accounts faced losses during the recent hurricane events, but “still eager” alternative capital providers may dampen the upward pressure on rates, broker Willis Towers Watson said.

It’s just under three months until our second conference in New York, with Artemis ILS NYC 2018 being held in central Manhattan on the 2nd February. Tickets are selling fast and today we can reveal some of our speakers and also give you a glimpse at who you can meet on the day.

The insurance-linked securities (ILS) fund market has experienced its largest ever losses in September 2017, final data from ILS Advisers index of ILS funds performances shows, with the average being a decline of -9.04%.

The insurance-linked securities (ILS) fund market has experienced its largest ever losses in September 2017, final data from ILS Advisors index of ILS funds performances shows, with the average being a decline of -9.04%.