Archive for May, 2019

U.S. primary insurer Safepoint is set to issue a new catastrophe bond in Singapore, as a $75 million Manatee Re III Pte. Ltd. (Series 2019-1) transaction launches to the market.

Hannover Re grew its gross premiums underwritten by an impressive 19.2% in the first-quarter of the year and targets further “significant” growth in P&C reinsurance this year, in a market that is sees as stable or even “modestly better.”

The latest and 33rd ever catastrophe bond from U.S. primary military mutual insurer USAA has now been sized at $135 million of collateralised reinsurance protection for the firm, with pricing for both tranches that has moved towards the upper-end of guidance.

Despite an overall slower level of issuance of non-life catastrophe bonds in the first-quarter of this year, broker Willis Re notes that yields are on the rise as investors and ILS funds demand higher returns after recent losses.

French global reinsurance player SCOR is back in the market with what will be the firms second catastrophe bond to be domiciled in the United Kingdom, a $175 million multi-peril Atlas Capital UK 2019 PLC (Series 2019-1) transaction.

Continued loss creep suppressed the returns of catastrophe bond, insurance-linked securities (ILS) and reinsurance linked investment funds in March 2019, causing the ILS Advisors Index to fall to a negative -0.12% for the month.

Global reinsurance firm Swiss Re strengthened its typhoon Jebi loss reserves in the last quarter and the firms CFO John Dacey said that the company puts the industry loss from the storm at close to $13 billion now.

Insurance and reinsurance broking group BMS has announced another senior hire in the form of Pete Chandler, who will join the firm from JLT Re and become BMS’ new President, U.S. Reinsurance.

Here are the ten most popular news articles, week ending 5th May 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.

A very important point was raised by the Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) recently, that insurance and reinsurance firms hold significant exposure to climate related risks in their investment portfolios, as well as the exposures they assume through underwriting.