Archive for April, 2019

Catastrophe exposure, as measured by insured property values featured in the PERILS AG Industry Exposure Database, increased for European windstorm risks and other territories covered by the service provider in its latest exposure database update.

PIMCO (Pacific Investment Management Company LLC) continues to build-out its new insurance-linked securities business, adding another experienced reinsurance and ILS professional in Michael Beck, formerly the COO of Mt. Logan Re.

The availability of retrocessional reinsurance capacity remained tight at the just completed April 1st 2019 renewals, according to broker Willis Re, resulting in similar market conditions to those seen in January.

Reinsurance, catastrophe and weather risk-linked investment fund manager Nephila Capital will add a new source of risk from the U.S. eastern seaboard, as its managing general agency (MGA), Velocity Risk Underwriters LLC has expanded into North Carolina and New York.

Private equity and alternative investment specialist Apollo Global Management, LLC is reported to be out raising capital for a number of new investment funds, with as much as $5.5 billion said being raised for specific insurance-linked fund strategies.

Palomar Insurance Holdings, the speciality California-based insurer that provides largely catastrophe exposed property covers, as seeking to raise $50 million in a Nasdaq initial public offering (IPO), adding to the $20 million it raised in a debt issuance invested in by ILS specialists Fermat Capital Management and investor Cohen & Company.

Arcus Syndicate 1856 at Lloyd’s, which is backed by third-party funds under the management of the Credit Suisse insurance and reinsurance linked investment strategies team, grew its gross premiums written by an impressive 58% in 2018.

Hurricane industry losses from the 2018 season have risen with hurricane Michael now estimated to have caused an industry loss of $11 billion, while hurricane Florence is estimated at $5.5 billion, both according to insurance and reinsurance broker Aon.

Appleby, the specialist offshore law firm and fiduciary services provider, has added a new service of relevance to the insurance-linked securities (ILS) industry to its offering, by joining the Bermuda Stock Exchange (BSX) as a listing sponsor.

Insurance and reinsurance linked assets under management at alternative risk premia focused mutual fund manager Stone Ridge Asset Management shrank by roughly 11% in the last quarter of record, to $6.15 billion across its two dedicated ILS fund strategies.