Archive for July, 2019

Global reinsurance giant Swiss Re has returned more meaningfully to the capital markets and insurance-linked securities (ILS) in 2019, reported by the firm as a “significantly increased use of third party capital” used to back what looks like significant growth in catastrophe exposures underwritten.

Cincinnati Financial Corporation’s aggregated catastrophe and severe weather losses over the first-half of 2019 have been sufficiently severe to reach 74% of the way towards the trigger attachment point of its $180 million Skyline Re Ltd. (Series 2017-1) catastrophe bond.

Arch Capital Group, the Bermuda headquartered insurance and reinsurance firm, is set to buy managing agent, Lloyd’s operator and also ILS facilitator or servicer Barbican Group Holdings Limited.

Revenues earned through the operations of its insurance-linked securities (ILS) manager Nephila Capital have helped to offset costs related to Markel CATCo in the second-quarter and first-half of the year for owner Markel Corporation.

The awaited launch of B3i’s catastrophe excess-of-loss (XOL) reinsurance placement system built on distributed ledger technology came today and the company highlighted it can be used for retrocession as well as treaty reinsurance.

The Eclipse Re Ltd. vehicle, a special purpose insurance and segregated accounts company that was originally launched by Horseshoe Group and Rewire Securities LLC, has completed its largest private catastrophe bond to-date, a $100 million Eclipse Re Ltd. (Series 2019-05A) ILS transaction.

Global reinsurance firm Swiss Re has reported an expansive year-to-date in its core property & casualty reinsurance operations, with premiums rising 23%, but its results have been dented by loss creep from typhoon Jebi and a large reserve charge for Corporate Solutions.

The California Earthquake Authority (CEA) will look to set up a reinsurance and risk transfer program for California’s recently approved $21 billion wildfire insurance fund, we can now confirm.

Estera has hired Damian Resnik, an investment compliance focused executive with specific expertise gained in the insurance-linked securities (ILS) sector, as its new Client & Operations Director in Bermuda.

If the loss creep linked to Japanese typhoon Jebi continues it has the potential to impact RenaissanceRe’s retrocessional reinsurance underwriting book, according to the firms CEO.