Archive for January, 2018

The North Yorkshire Pension Fund, a pension scheme for council and local government workers in the Yorkshire region of the UK, is seeking an insurance-linked securities (ILS) manager for its first allocation to the asset class, which could be for as much as $230 million.

A private catastrophe bond issued through German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd. has had its maturity extended. The $50 million Seaside Re 2017-3 cat bond was due to mature this week, but maturity for the full tranche has been pushed to February 8th, suggesting it may face potential losses.

Marc Beckers, most recently Head of reinsurance broker Aon Benfield’s ReSolutions team in the EMEA region has been hired by risk capital advisory and reinsurance broker TigerRisk Partners as a Partner and Head of EMEA to lead its charge into Europe.

Catastrophe risk modelling specialists RMS has estimated that the insurance and reinsurance industry loss from December’s Thomas wildfire in southern California will be from $1 billion to as much as $2.5 billion.

AIG’s Brian Duperreault is “very positive” about the growth potential for AlphaCat Managers following the company’s proposed $5.56 billion takeover of Validus Holdings, underlining the “tremendous” potential for upside.

Insurance giant American International Group, Inc. (AIG) is set to acquire Bermudian reinsurance group Validus Holdings, Ltd., in a deal that has just been announced and will see AIG taking control of Validus’ third-party capital and ILS investment management unit AlphaCat Managers.

Pricing for the in-the-market $200 million Vitality Re IX Ltd. (Series 2018-1) health insurance-linked securities (ILS) issuance has been delayed due to uncertainty over the future of health insurer fees, because the U.S. government has been considering the fees as part of government shutdown related budgetary debates.

Actuarial firm Meyerthole Siems Kohlruss (MSK) has estimated that last week’s European windstorm Friederike will cause an insurance and reinsurance industry-wide loss of around EUR 800 million in Germany alone, which could make Friederike one of the most expensive storms of this winter season.

Bermuda-based reinsurer PartnerRe has underwritten a £725 million longevity reinsurance arrangement for UK specialist defined benefit pension fund insurer Pension Insurance Corporation plc (PIC), the first deal between the two companies.

The awaited first catastrophe bond to cover the four member nations of the Pacific Alliance trade bloc in Latin America has now been launched by the World Bank, with an offering seeking $1 billion of earthquake coverage for Chile, Colombia, Mexico and Peru, in what will be one of the largest cat bond issuances on […]