Archive for April, 2018

Securis Investment Partners LLP, the London-based ILS investment manager, has named long-standing employee and previous Chief Operating Officer Vegard Nilsen as the firm’s new Chief Executive Officer, while co-founder Rob Procter continues as Chief Investment Officer.

Alternative reinsurance capital was once again largely responsible for the expansion of global reinsurance capacity in 2017, as insurance-linked capacity grew 17% to $88 billion by the end of the year, outpacing traditional reinsurance capital significantly, according to Willis Re.

The latest catastrophe bond from Louisiana Citizens Property Insurance Corporation looks set to follow the market trend in 2018, as the price guidance gets reduced, falling below the initial marketed range for its $100 million Pelican IV Re Ltd. (Series 2018-1) cat bond.

Here are the ten most popular news articles, week ending 22nd April 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 insurance-linked securities (ILS) investor base is braced for the potential for losses to grow from U.S. primary insurer Nationwide Mutual Insurance Company’s $375 million Caelus Re V Ltd. (Series 2017-1) catastrophe bond, as the insurers aggregated natural catastrophe losses rise further.

Insurance and reinsurance sector CEO’s are currently in “surprisingly optimistic” mood about the prospects for their own organisations growth over the coming years, but are increasingly open to joint-ventures or strategic alliances to help them grow and at the same time still terrified of the pace of technological change.

The remaining in-force notes of Bermudian reinsurance firm RenaissanceRe’s $140 million of Series 2017-1 notes issued by Fibonacci Reinsurance Ltd. have been extended again, presumably as loss development continues.

The 2018 Atlantic hurricane season is expected to feature significantly above long-term average levels of activity by researchers from North Carolina State University, who suggest that as many as 18 named tropical storms and hurricanes could form this year.

Between April 13th and 15th a major springtime storm system impacted central and eastern areas of the United States, bringing severe convective weather, thunderstorms, hail, tornadoes, flooding rains and heavy snow, resulting in damage across 20 states and economic and insured losses running into the hundreds of millions of dollars.

Primary insurance carrier Allstate has begun 2018 with a significantly lower level of catastrophe losses than it experienced a year earlier, reporting an estimate $361 million of losses for the first-quarter, down from $781 million in the prior year.