Archive for July, 2019

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Swiss Re uses more third-party capital to back nat cat expansion

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.An expanded reinsurance business was one of read the full article →

Cincinnati’s losses reach 74% of Skyline Re cat bond trigger at end of Q2

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.The Skyline Re catastrophe bond was sponsored in January 2017 by read the full article →

Arch buying Barbican, increasing London access & ILS interest

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.Arch will gain a significantly enhanced reach and access into the London and Lloyd's insurance and reinsurance marketplace, while at the same time read the full article →

Nephila Capital revenues help offset CATCo costs for Markel

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.Revenue contributions to Markel are now being fully reported for the activities of the Nephila Capital ILS read the full article →

B3i’s first application supports retro as well as XoL reinsurance

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.As we explained earlier this month, the insurance and reinsurance industry backed initiative that became a company, B3i, read the full article →

Eclipse Re in largest private cat bond, a new $100m ILS transaction

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.It's the second transaction of the month issued by read the full article →

Swiss Re expansive in P&C Re, creep & CorSo reserve charge dent results

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.Helping to offset those dents to its first-half 2019 read the full article →

CEA’s Wildfire Fund role includes reinsurance & risk transfer set-up

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.As we reported earlier this month, the California Earthquake Authority (CEA) is gaining an expanded remit, as it is set to take read the full article →

Estera hires ILS funds & investment compliance expert Resnik

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.Estera, a global provider of funds, corporate and trust services and an active service provider to the ILS and reinsurance markets, has read the full article →

Further Jebi loss creep may impact RenRe’s retro portfolio: CEO O’Donnell

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.Kevin O'Donnell, the CEO of Bermuda headquartered reinsurance firm RenaissanceRe (RenRe), explained during his firms recent quarterly earnings call that the potential for further development read the full article →