Archive for January, 2019

Bermuda headquartered global insurance and reinsurance firm Everest Re Group said that it expects the impacts of fourth-quarter 2018 catastrophe events will cost the firm $695 million in losses, after accounting for reinsurance and retrocession.

Marvin Pestcoe has been named Executive Chair and CEO Bermuda for Langhorne Re, the joint-venture, third-party capital backed life and annuity reinsurance firm launched by RenaissanceRe (RenRe) and Reinsurance Group of America (RGA). Pestcoe joins Langhorne Re from his most recent position as Chief Risk and Actuarial Officer at reinsurance firm PartnerRe. He has over […]

Asset management giant PIMCO (Pacific Investment Management Company LLC) and owner Allianz S.E. are set to partner on a new insurance-linked securities (ILS) operation, which as we revealed recently is set to be run by Rick Pagnani. PIMCO is a world leading fixed income investor with a huge $1.72 trillion of assets under management, with […]

The successful completion of the third private catastrophe bond transaction between AIG owned fund manager AlphaCat Managers, Ltd. and reinsurer Terra Brasis Resseguros S.A. demonstrates that ILS has become established in the Latin American region, the pair said. The two firms successfully completed the third issuance of the $5 million private catastrophe bond transaction recently, […]

Despite the fact the growth of third-party or alternative capital in reinsurance has paused in the wake of the major catastrophe losses of the last two years, its ascendance is expected to resume and its influence over pricing to continue, according to S&P. Rating agency Standard & Poor’s said that after the heavy catastrophe losses […]

The use of insurance-linked securities (ILS) structures and access to third-party capital are essential requirements now for a reinsurance company to remain competitive in the evolving and challenging marketplace, according to analysts. Mergers and acquisitions (M&A) in reinsurance has clearly evidenced the appetite of major insurance and reinsurance players to embed the access to alternative […]

The impacts of climate change present challenges for all industries and markets, but over the last two decades, the insurance-linked securities (ILS) sector has been at the forefront of monitoring new or unexpected impacts, according to John Seo, Co-founder and Managing Director of Fermat Capital. “New or unexpected impacts from climate change, particularly in the […]

U.S. primary insurance giant Travelers reported its fourth-quarter 2018 results yesterday, revealing a $611 million catastrophe burden pre-tax and after taking into account reinsurance recoveries made. As we explained yesterday, Travelers has bulked up on its reinsurance at the January renewal, adding a new aggregate catastrophe treaty which may be a response to the elevated […]

Indonesia’s government continues to have discussions regarding the use of catastrophe bonds as a disaster risk financing tool to better protect the country against the impacts of earthquakes and tsunamis. Last October it was reported that the Indonesian Finance Ministry had engaged with global agencies that could assist the country in sponsoring its first catastrophe […]

GC Securities, the capital markets, insurance-linked securities (ILS) focused unit of reinsurance broker Guy Carpenter, has appointed Brendan Roche as a Senior Vice President.