Archive for February, 2018

Global Parametrics, the parametric and index-based risk transfer start-up backed by the UK and German governments, is set to receive a seed investment in its insurance-linked Natural Disaster Fund from the UK government’s Department for International Development (DFID).

Australian and global insurance and reinsurance group QBE suffered over $1.2 billion of natural catastrophe losses in 2017, after reinsurance, but the company says that after a number of years of softening pricing and the major loss events of last year, it believes the market has begun an “orderly correction.”

Zenkyoren has now secured $700 million of collateralized Japanese earthquake reinsurance cover from its latest cat bond, while the pricing for the two series of Nakama Re Ltd. (Series 2018-1) notes has now been fixed at the lowest end of the marketed range.

Hiscox Re Insurance Linked Strategies Ltd. (Hiscox Re ILS), the manager of third-party reinsurance capital funds at Hiscox, has grown its assets under management to a new high at $1.5 billion after attracting additional capital following the losses of 2017 and now plans to expand its product range too.

Here are the ten most popular news articles, week ending 25th February 2018, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

Bermudian insurance, reinsurance and growing third-party capital manager Aspen Insurance Holdings Limited, is changing the way it deals with sidecar style quota shares, which will see it stop using its Silverton Re sidecar and moving quota share support to cells of its other vehicle Peregrine Re.

The reinsurance industry has to get used to the fact that we are now in a world where underwriting margins for property catastrophe business are lower and likely to stay that way, thanks to the influence of ILS and alternative sources of capital, according to Swiss Re CEO Christian Mumenthaler.

Kinesis Capital Management, the third-party capital vehicle operated by Lancashire Holdings, has seen more opportunities in the market following the 2017 catastrophe events and is ready to capitalise on market conditions in 2018 and beyond, according to Darren Redhead.

The insurance and reinsurance industry loss caused by extra-tropical cyclone (or European windstorm) Thomas (which was also known as Doris in the UK) has been finalised at EUR 248 million by catastrophe loss data aggregator PERILS AG.

Reinsurance giant Swiss Re has underwritten more business at the key January 2018 reinsurance renewals, in response to rising rates and after a year 2017 which saw the company report $4.7 billion of natural catastrophe losses, but still report positive net income for the year.