Archive for November, 2017

Lutece Holdings Ltd., the insurance-linked securities (ILS) and reinsurance linked investment fund vehicle start-up, is ready to begin underwriting a collateralized retrocession product at the January 1st 2018 renewals, with “a significant amount of committed capital” raised according to its founders.

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation investment manager, has invested in insurance technology start-up Goji, a data-driven home and automobile insurance distribution platform.

Rating agency A.M. Best believes that alternative capital will take as much as $20 billion to $25 billion of the recent catastrophe loss bill, with the majority falling to the collateralized retrocession and reinsurance market, noting that this capacity has played a vital role in helping reinsurers mitigate their net losses.

European windstorm (or extratropical cyclone) Xavier is estimated to have caused an insurance and reinsurance industry loss of around EUR 291 million after it struck northern Europe, primarily impacting Germany, on the 5th October 2017.

The U.S. Federal Emergency Management Agency (FEMA) has started the procurement process for a 2018 flood reinsurance program renewal for the National Flood Insurance Program (NFIP), as it seeks to transition gradually towards a multi-year approach to use of reinsurance coverage.

Specialist insurance and reinsurance linked investment manager Leadenhall Capital Partners has announced a new hire within its business development function, adding Paul Haig who was previously with reinsurance broker Aon Benfield.

New commitments have been made to the InsuResilience initiative, that seeks to provide direct or indirect insurance coverage to an extra 400 million of the world’s most vulnerable people by 2020, with the German government committing US $125 million to help expand the initiatives remit.

Markel CATCo Investment Management Ltd., the collateralized reinsurance and retrocessional investment fund manager, which is in the middle of raising new capital for its listed retrocession fund, has announced its intention to enhance the fund’s dividend policy, citing investor demand.

Whatever the impact recent catastrophe events have on reinsurance pricing at the upcoming renewals, and beyond, hopefully, the loosening of terms and conditions (T&C) witnessed in recent years can be reversed, resulting in a pure property market, says Rob Procter, Chief Executive Officer (CEO) of Securis Investment Partners.

Catastrophe bond spreads are not expected to widen significantly following the impacts of recent losses, according to cat bond and ILS fund manager Fermat Capital Management LLC, who only expect spreads will widen less than 10%. However the manager does expect an uptick in issuance anyway.