Archive for February, 2019

Reinsurance rates for Japanese accounts are expected to broadly rise at the upcoming April 1st renewals, with some price increases expected to be “significant” while more broadly there is a hope for widespread double-digit rate improvements.

Insurance Australia Group (IAG) has sponsored its first catastrophe bond and the transaction is also the first cat bond to be issued in Singapore, using the countries’ Special Purpose Reinsurance Vehicle (SPRV) regulations.

The Bermuda Stock Exchange (BSX) has become the listing home for notes issued under a UK domiciled catastrophe bond structure for the first time, as the £75 million of notes issued for Pool Re’s first terrorism cat bond find a home there.

Collateralized reinsurance structures and markets worked exactly as designed and advertised, which gives United Insurance Holdings (UPC Insurance) the confidence to execute on its strategy, according to CEO John Forney.

Pool Re, the UK government-backed mutual terrorism reinsurance facility, has now successfully completed the issuance of its first terrorism risk catastrophe bond, the £75 million ($97m) Baltic PCC Limited (Series 2019) with the placement said to have been oversubscribed thanks to ILS investor support.

According to Adam Beatty, Managing Director of Nephila Advisors UK, a division of the world’s largest insurance-linked securities (ILS) manager, Nephila Capital, access to risk and origination are key ways fund managers can differentiate themselves.

1347 Property Insurance Holdings, Inc. has said that it plans to transition into a company offering reinsurance and investment management services after selling its homeowners insurance underwriting operations to expansive Florida specialist FedNat Holding Company.

Typhoon Jebi is estimated to have caused an insurance industry loss of $10 billion by Property Claim Services (PCS), with the potential for further loss creep apparent, according to Tom Johansmeyer, Co-Head PCS.

Fresh capital raising for 2019 in its Upsilon vehicle has taken RenaissanceRe’s third-party reinsurance and insurance-linked securities (ILS) capital under management close to $5 billion.

The World Bank’s Pandemic Emergency Financing Facility (PEF) will make its second contribution to the Democratic Republic of Congo Ebola response, with a $20 million grant from its cash window approved to be made.