Archive for March, 2018

Japanese insurance group MS&AD Insurance Group Holdings looks set to secure a new $320 million source of capital markets backed reinsurance protection at efficient pricing, as its latest catastrophe bond, the Akibare Re Ltd. (Series 2018-1) deal, secures the maximum targeted size at the lowest targeted pricing level.

The latest catastrophe bond from U.S. primary insurer Safepoint Insurance Company has increased in size while marketing, as the sponsors multi-peril Manatee Re II Ltd. (Series 2018-1) cat bond has grown to $200 million while pricing for both of its tranches has now been fixed at the bottom of guidance.

Insurance-linked securities (ILS) are central to keeping the UK’s insurance and reinsurance industry “at the cutting edge”, the Government says, and the work to bring the recently introduced ILS legislation in the UK is an example of how industry and Government can collaborate, to the benefit of the economy.

Here are the ten most popular news articles, week ending 25th March 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 or get our email alerts for every article we publish.

The reinsurance and ILS market places itself at risk of arbitration by their use of ambiguous and unreliable industry loss trigger data sources, which can be as random and varied as “any credible source”, according to Property Claim Services (PCS), a Verisk Analytics business.

The completion of mortgage insurer Essent Guaranty’s first mortgage insurance-linked securities (ILS) transaction is seen as a “significant milestone” for the firm, according to its CEO, as the $424.4 million Radnor Re 2018-1 Ltd. deal helps to diversify the firms risk capital sources.

According to its latest update to investors in its catastrophe bonds, U.S. primary military mutual insurer USAA’s aggregated catastrophe losses from events in the last twelve months have now neared $1 billion, putting a number of its outstanding Residential Re cat bonds at significant risk of paying out at least some of their principal.

There remains a relative dearth of cyber risk models for insurance and reinsurance markets to use, compared to the availability of risk modelling tools and analytics for other lines of business. So when a new company launches dedicated to cyber risk and with the backing of tech giant Symantec Corporation it’s worth a closer look.

The UK Government is set to welcome a group of insurance-linked securities (ILS) investors to Number 11 Downing Street next week, the home of the Chancellor of the Exchequer, as it looks to set out its support for the sector and encourage investors to consider allocating to UK ILS opportunities.

AXIS Capital Holdings is not an asset manager, CEO Albert Benchimol said recently, but the firm is making “substantial fees” for managing and deploying third-party capital into its reinsurance underwriting business.