Archive for February, 2019

Financial services insurance and reinsurance group Alleghany Corporation reported a negative investment income hit from its equity investments in specialist insurance and reinsurance linked ILS asset manager Pillar Capital and its funds for 2018.

Mitsui Sumitomo Insurance Co. Ltd’s $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1) has been priced down as cat bond investors suspect it faces a potential loss of some principal, as the sponsoring insurers claims from typhoons including Jebi keep rising.

Global reinsurance giant Swiss Re is forecasting improving rate conditions across insurance and reinsurance business after its results were dented by catastrophe losses in property and casualty lines and its commercial underwriting arm.

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has launched what it calls the “World’s First Catastrophic Risk Models Linked To Skillful Climate Physics Prediction.”

John Butler is set to lead a Cohen & Company, LLC backed insurance, reinsurance and insurtech acquisition vehicle which is hoping to raise up to $150 million for its launch as a so-called blank check company.

PCS has announced that it’s to deliver county-level resolutions for catastrophe events in the U.S. with insured losses of at least $1 billion, providing an enhanced level of granularity that contributes to lower basis risk in industry loss index trading.

Transatlantic Holdings, parent company to Transatlantic Reinsurance (or TransRe), is returning to the catastrophe bond market this year with its second ever issuance, a $200 million multi-peril Bowline Re Ltd. (Series 2019-1) transaction.

Jean-Paul Conoscente has been named as the new CEO of SCOR Global P&C, the property and casualty underwriting division of the global reinsurance firm.

COIN Reinsurance believes that the inevitable escalating rate hikes that hit insurance buyers due to loss adjustment and assignment of benefit (AOB) expenses can be countered by lower cost reinsurance for carriers.

Global reinsurance firm SCOR has once again benefitted from its retrocession over the last year, one factor helping the firm to report higher results year-on-year.