Archive for July, 2018

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MGIC watching, as mortgage insurance-linked note market hits $2.2bn

Mortgage insurance specialist MGIC, is watching the development of the mortgage insurance-linked notes (or insurance-linked securities) market closely and the success of transactions so far is likely to encourage new sponsors like MGIC to come forward.MGIC Investment Corporation, the parent of Mortgage Guaranty Insurance Corporation (MGIC), underwrote roughly $500 million read the full article →

Vida Capital raises $886m for longevity focused life settlements fund

Vida Capital, an alternative asset manager with around $3.5 billion under management in various insurance-linked strategies has raised $886 million for a new closed-end life settlement fund, which is predominantly focused on longevity-contingent risk.The company had been targeting a $750 million capital raise for its new Vida Insurance Credit Opportunity read the full article →

AlphaCat ILS assets shrink slightly to $3.5bn in Q2 2018

ILS assets under management at the AlphaCat Managers Ltd. insurance-linked securities (ILS) and third-party reinsurance capital unit of Validus Holdings (now part of AIG) have shrunk slightly during the second-quarter of the year to $3.5 billion.AlphaCat’s ILS assets under management passed a new high of $3.66 billion at the end read the full article →

Everest Re’s premiums expand, drives Mt. Logan Re to largest AuM of $1.134bn

Bermudian reinsurance firm Everest Re has achieved significant growth of its underwriting book during the second-quarter of the year, while at the same time the firm's collateralized sidecar like vehicle Mt. Logan Re has now reached $1.134 billion, its largest size ever.Everest Re has grown its underwriting book by an read the full article →

Credit Suisse ILS backed Arcus Syndicate 1856 promotes Gfeller & Delaney

Arcus Syndicate 1856 at Lloyd’s of London, which is backed by funds under the management of the Credit Suisse insurance and reinsurance linked investment strategies team, has announced two senior promotions for Adrian Gfeller and Gary Delaney, as well as a number of other core team updates.Adrian Gfeller has been read the full article →

2017 showed importance of ILS manager selection: PSERS CIO

According to James Grossman, the Chief Investment Officer (CIO) of the Commonwealth of Pennsylvania, Public School Employees’ Retirement System (PSERS), the experience of 2017 showed just how important it is to partner with a well-respected insurance-linked securities (ILS) fund manager.In an interview with Clear Path Analysis from its latest ILS read the full article →

Irma loss deterioration, lottery jackpot hit ILS fund performance in June

A number of insurance-linked securities (ILS) funds experienced negative performance during the month of June 2018, with further deterioration of the hurricane Irma industry loss estimate and the Lottoland lottery jackpot ILS payout both contributing. But still the average return of the ILS fund market was 0.28% for the month.June read the full article →

Hiscox Re ILS funds grow assets to $1.6bn

Hiscox Re Insurance Linked Strategies Ltd. (Hiscox Re ILS), the manager of third-party reinsurance investment funds at re/insurer Hiscox, has grown its assets under management again to reach $1.6 billion, as the ILS business helped Hiscox also grow its catastrophe premiums.Hiscox Re ILS’ assets under management hit $1.35 billion as read the full article →

Cal Phoenix Re wildfire cat bond may upsize, but at 20% higher pricing

The Cal Phoenix Re Ltd. (Series 2018-1) catastrophe bond transaction, which is the first pure wildfire exposed deal that will benefit California focused electrical utility PG&E Corporation (the Pacific Gas and Electric Company), may increase in size slightly, but at the same time the proposed coupon has risen 20%.The cat read the full article →

Carr wildfire in California destroys 874 structures, threatens 5,000+ more

The Carr wildfire in Shasta County California continues to spread, with resulting damage to residential and commercial property now meaning 874 structures have been completely destroyed, with another 175 damaged and more than 5,000 still under threat.The California wildfire season has got off to a dangerous and deadly start in read the full article →