Archive for March, 2019

Alternative investment managers and funds are sitting on approximately $1 trillion of undeployed capital or “dry powder” and with few other attractive opportunities available, insurance and reinsurance linked investing has been cited as one of the more attractive asset classes.

The Lloyd’s insurance and reinsurance market can “nurture” alternative sources of capital, CFO John Parry just explained in a press briefing, as the world’s oldest risk market looks to take a more open-minded approach to helping investors access its underwriters returns.

Bill SB 290 that if enacted would enable the California Governor, Insurance Commissioner, and Treasurer to purchase insurance, reinsurance, insurance-linked securities (ILS), or other alternative risk transfer (ART) products to help pay costs resulting from natural disasters, is making progress.

Expansive Florida headquartered primary insurer Universal Insurance Holdings has entered another U.S. state, beginning to underwrite homeowners risks in Illinois, taking the number of states it writes property risks in to eighteen.

Lloyd’s of London stands at a “critical juncture” the market itself admitted today, while CEO John Neal said that the 2018 annual results reported today are “not of the standard that we would expect.”

Norsk Hydro has said today that its costs from the cyber attack by malware or ransomware are estimated at up to US $41 million just from the first week since the event occurred.

Markel CATCo Investment Management’s stock exchange listed retrocession focused investment fund the CATCo Reinsurance Opportunities Fund is set to be run-off, after investors almost unanimously approved the proposal.

The annual Association of Insurance and Financial Analysts (AIFA) conference was held at the start of this month and insurance and reinsurance executives debated the influence of alternative capital and ILS, while analysts questioned whether it’s more disciplined and cautious, or if reinsurance capital as a whole is becoming smarter this year.

Solidum Partners, the Swiss specialist insurance and reinsurance linked investment manager, has completed a $12 million Jungfrau IC Limited 2019 private catastrophe bond issuance, which is the fourth to use the firms blockchain system.

Lloyd’s of London, the oldest and most unique marketplace in the world for placing insurance and reinsurance business, is set to adopt a friendlier tone when it comes to third-party capital and ILS, according to observers and market participants.