Archive for January, 2019

Asset management giant PIMCO (Pacific Investment Management Company LLC), which is owned by Allianz S.E., is targeting the insurance-linked securities (ILS) and reinsurance linked investments space with the hiring of Rick Pagnani as Head of PIMCO’s ILS Business.

Following the successful completion of the first fully programmatic reinsurance transaction, Artemis spoke with the Chief Executive Officer (CEO) of InsurTech start-up Tremor Technologies, Inc., Sean Bourgeois, about the placement, as well as the involvement of the insurance-linked securities (ILS) space.

Specialist insurance-linked securities (ILS) and reinsurance investments manager Twelve Capital has successfully completed issuance of $76.8 million of new private catastrophe bonds through its Dodeka series of transactions.

Lumen Re Ltd., the Bermuda domiciled Class 3A reinsurance underwriting vehicle of LGT ILS, a unit of the investor LGT Group’s alternative asset manager LGT Capital Partners, has had its credit ratings affirmed and balance-sheet assessed as strongest by A.M. Best.

The Chairman and Chief Executive Officer (CEO) of collateralised reinsurer Oxbridge Re Ltd., Jay Madhu, explained that the firm’s recently launched sidecar vehicle diversifies its revenue streams and risk.

Any uptick in reinsurance and retrocession rates at future renewals through 2019 may prove “self-defeating” for traditional reinsurers, as attractive pricing is likely to encourage new capacity to flow into the sector, Goldman Sachs analysts warn.

The CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric risk pool to include Panama, as the Central American country joins the provider of parametric sovereign disaster risk transfer products and signs up for excess rainfall protection.

International specialty insurance and reinsurance underwriter Argo Group has renewed its Harambee Re collateralized reinsurance sidecar vehicle for the 2019 underwriting year, as the firm continues to tap into the capital markets for protection and to augment its capacity.

Reinsurance giant Munich Re has increased the size of its Eden Re II Ltd. fully collateralised sidecar vehicle to $300 million for 2019, the same amount of capital markets backed retrocessional reinsurance support the reinsurer received through the sidecar vehicle last year.

Global insurer Liberty Mutual Insurance has completed its third reinsurance sidecar transaction through its Limestone Re Ltd. vehicle, with a $150 million arrangement that was largely privately placed.