Archive for September, 2018

Collateralized reinsurance market growth shows no signs of slowing down, according to rating agency S&P, as the “exceptional growth” exhibited by this form of third-party capital looks set to continue, in particular thanks to the ease of uptake for ceding companies.

The recent fire at a floating dock in the shipyard of luxury super yacht manufacturer Lürssen has been designated as a loss event to track by Property Claim Services (PCS) through its PCS Global Marine & Energy product.

Retrocessional reinsurance specialist investment manager Markel CATCo has bought back 1 million shares in one of the classes of its stock exchange listed fund.

The Lloyd’s market has put its investigations into the potential use of insurance-linked securities (ILS) to protect its Central Fund on-hold for the moment, according to CFO John Parry.

The Lloyd’s of London insurance and reinsurance market improved its result in the first-half of 2018 and underwriters in the market took advantage of rate rises following the 2017 catastrophes to increase the markets premiums written.

Collateralized reinsurance quota shares and retrocessional protections that sit in lower layers of cedant’s towers are the most likely source of ILS market losses from hurricane Florence, according to rating agency Fitch.

U.S. primary insurance carrier Allstate has reported pre-tax catastrophe losses amounting to $186 million for the month of August 2018, with a single hail event contributing roughly $48 million, while negative development on prior month catastrophe researches also added $49 million to the total.

The insurance-linked securities (ILS) market and alternative reinsurance capital is forecast to take a greater share market of global reinsurance by 2020, suggesting continued expansion for capital market activity in the sector, according to respondents of our first global reinsurance market survey.

Reinsurance rate increases are set to fade in 2019 leading to a broadly stable pricing environment and at the same time alternative capital and insurance-linked securities (ILS) is set to persist, according to rating agency Standard & Poor’s.

Valuations of some of the listed and mutual insurance-linked securities (ILS) fund strategies have stabilised or even begun to recover after hurricane Florence’s impacts proved to be less severe to ILS investments than had initially been anticipated.