Archive for October, 2018

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RenaissanceRe cedes casualty risk to Upsilon for first time

Bermudian reinsurance firm RenaissanceRe has broadened the scope of its activities within the Upsilon ILS vehicle and funds, utilising it to transfer casualty risks to third-party investors for the first time recently.The Upsilon vehicle and associated ILS fund strategies is focused on both collateralized reinsurance and retrocession, but to date read the full article →

ILS funds see September returns dented by catastrophe activity

A number of insurance-linked securities (ILS) funds have reported negative returns for September 2018, as the impacts of hurricane Florence in the United States and typhoons Jebi and Trami in Japan take their toll on private ILS arrangements and collateralized reinsurance positions.We understand that the losses that are flowing through read the full article →

Softer reinsurance pricing saved P&C insurers 210bps of RoE

U.S. property insurers are set for higher profits this year, with increased premiums underwritten in homeowners business as well as improving returns on equity (RoE), part of which can be attributed to the softening of the global reinsurance market.The U.S. homeowner insurer market is set to achieve direct written premiums read the full article →

African Development Bank launches disaster risk facility, ARC to assist

The African Development Bank has announced the launch of a disaster risk facility that will aim to increase the use of climate risk financing and insurance, including parametric risk transfer solutions, for African countries.The African Development Bank (ADB) announced the approval and launch of the Africa Disaster Risks Financing (ADRiFi) read the full article →

Nephila acquisition cost Markel total consideration of $975m

The acquisition of the world's largest insurance-linked securities (ILS) and reinsurance linked investment fund manager, Nephila Capital, is set to cost Markel Corporation a total consideration of $975 million, which will be paid in cash, the firm has disclosed.The 100% acquisition of Nephila Capital by Markel was announced at the read the full article →

RenaissanceRe to acquire Tokio Millennium Re for $1.5bn

RenaissanceRe, the Bermudian reinsurer and third-party reinsurance capital management veteran, is set to acquire the Tokio Millennium Re reinsurance operations of Japanese giant Tokio Marine, in an acquisition valued at $1.5 billion that brings together an ILS capital manager and a leading reinsurer that also operates as an ILS facilitator.The read the full article →

Collaboration can help ILS grow size of the pie: Industry experts

There’s room for the insurance-linked securities (ILS) space to grow its share of total reinsurance capital, and, if the industry works together, both the penetration rate and the size of the pie could improve in the future, according to industry experts.Speaking at the 10th anniversary Munich Re ILS Roundtable event read the full article →

Hurricane Michael claims paid rise again to $2bn: Florida regulator

Insurance claims paid following recent hurricane Michael's impacts on Florida have now leapt to over $2 billion, according to the latest data filed by insurers, collected and analysed by state regulator the Florida Office of Insurance Regulation (FLOIR).As of Monday 29th October, the number of claims filed and reported to read the full article →

ILS NYC 2019 speaker update: United, RenRe & Hamilton Re to join

We're delighted to announce the addition of speakers from United Insurance Holdings Corp., RenaissanceRe and Hamilton Re to the roster of confirmed speakers for our February 1st 2019 insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2019.We’re delighted to announce three more highly experienced and insightful insurance, reinsurance read the full article →

USAA returns for $150m Residential Re 2018-2 catastrophe bond

Long-standing catastrophe bond sponsoring insurer USAA is returning to the capital markets for yet another slice of collateralized reinsurance protection with a $150 million or greater sized Residential Reinsurance 2018 Ltd. (Series 2018-2) new multi-peril cat bond deal.This is USAA's 32nd catastrophe bond issuance that it has sponsored, since its read the full article →