Archive for February, 2019

Specialty insurance and reinsurance player Brit Ltd. has renewed its Versutus collateralised reinsurance sidecar for 2019 and increased its third-party capital managed to around $440 million as a result.

Hiscox said that it has continued to see sustained demand for its Hiscox Re ILS funds, despite the impacts of major losses over the last year and the firm has launched a new ILS strategy in January with a focus on accessing primary insurance returns.

Here are the ten most popular news articles, week ending 24th February 2019, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

The recent shift in ownership of London headquartered insurance and reinsurance linked investment manager, Leadenhall Capital Partners to Mitsui Sumitomo (MSI), enables the ILS manager to better utilise the full-potential of its resources and is a reflection of the group’s growth aspirations, according to Leadenhall’s CEO, Luca Albertini.

Anthony Belisle, the former CEO of retrocessional reinsurance investment manager Markel CATCo Investment Management and Alissa Fredricks, the former CEO of its Bermuda operations, are both claiming wrongful dismissal from the firm.

Reinsurance firm and third-party capital manager RenaissanceRe grew its insurance-linked securities (ILS) assets under management (AuM) by $500 million in 2018, with much of the increase coming from its recently launched Vermeer Reinsurance Ltd. strategy as well as growth in its Upsilon vehicle.

Typhoon Jebi, a storm that made landfall in Japan on September 4th 2018, has become an outlier for loss creep in the country, with the insurance and reinsurance industry loss now said to have surpassed $10 billion.

AXA XL purchased more catastrophe protection at the January 2019 renewals and also continued to increase its use of alternative reinsurance capital, which was evidenced by in-house ILS fund manager New Ocean’s assets under management reaching $1 billion.

It’s always refreshing to hear that the original premise for the capital markets entry into reinsurance holds true, even for the very largest reinsurers in the world.

Orchid Underwriters Agency, LLC, a property catastrophe focused managing general agency (MGA), has hired Joe Zuk, previously of Atlas General Holdings, to the new role of Managing Director of Corporate Development & Strategy.