Archive for August, 2018

UK headquartered primary insurer RSA Insurance Group has tapped the collateralised markets for a portion of its recent reinsurance renewal, with now 9% of its 3-year aggregate program backed by collateralised sources of reinsurance capital.

Property and casualty insurance company United Insurance Holdings (UPC Insurance) has significantly increased its estimate for losses caused by hurricane Irma during the first-half of the year, raising the total by 56% to $623 million and meaning more losses passed onto its reinsurance capital providers.

Akinova, a digital risk trading insurtech start-up that is developing a platform where insurance and reinsurance related risk can be traded, has added another senior advisor in Susan Estes, a Wall Street veteran, as well as co-founder and CEO of bond trading platform OpenDoor.

Bermudian insurance and reinsurance group Aspen Insurance Holdings Limited has continued to cede more of its underwritten premiums to third-party capital sources and retrocession, with quota shares playing an important role as the company expands its insurance book.

American International Group (AIG) continues to adjust its operating model under the remit of Brian Duperreault, with the latest change being the announcement that the firms DSA Re legacy reinsurance vehicle is to be transformed into a standalone reinsurer, with the help of private equity giant The Carlyle Group.

Tangency Capital Ltd., the insurance-linked securities (ILS) investment manager that has a focus on quota share reinsurance business, has hired experienced ILS actuary and analyst François Delattre as the firms new Head of Analytics.

Reinsurance and retrocession linked specialist ILS investment manager Markel CATCo Investment Management has continued to deliver higher investment fee income to parent Markel Corporation in the second-quarter, as the increased assets under management contributed 87% more revenue this year.

AIR Worldwide has announced the launch of its awaited next-generation catastrophe risk modelling software solution, Touchstone Re which is designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities.

Blue Capital Reinsurance Holdings Ltd., a unit of Sompo International Holdings Ltd., continued to feel the effects of hurricane Irma losses in Q2, but anticipates its underwritten portfolio producing a 100 basis point higher rate-on-line thanks to price improvements.

The Carr wildfire continues to burn and expand in Shasta County, California and the number of structures destroyed by the fire has now reached 1,378, making the Carr fire now the sixth most destructive on record in the state, with hot and dry weather making further damage likely.