Archive for July, 2019

The California Earthquake Authority (CEA) is gaining an expanded remit, as it is set to take on administrative responsibility for California’s recently approved $21 billion wildfire insurance fund.

Global insurance and reinsurance firm Hiscox has announced the promotion of Andrew Hughes to the role of Managing Principal, Hiscox ILS.

New York based alternative investment specialist and fund manager in the longevity linked life settlements space BroadRiver Asset Management, L.P. has bolstered its senior management with the hiring of Emma Dickson, an experienced alternative investments attorney.

While price momentum continues to build in the Lloyd’s market, improvements in pricing seen in the reinsurance and insurance-linked securities (ILS) market are “more selective”, according to Hiscox CFO Aki Hussain.

Insurance and reinsurance brokerage Aon has named Vince Barrett as the new Regional Managing Director EMEA for its Captive & Insurance Management business.

Specialist Lloyd’s focused insurance and reinsurance player Beazley has reported its results for the first-half of the year, revealing dented underwriting profits due to continued impacts from catastrophes and loss creep, but much improved pricing that should flow through over the course of the year ahead.

U.S. primary insurer Nationwide Mutual Insurance Company has made its first reinsurance recovery under the stricken Caelus Re catastrophe bond series, claiming $10.73 million from the highest risk Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes.

Leadenhall Capital Partners LLP, the London headquartered insurance and reinsurance linked investment manager, has signed up U.S. Bank Depositary Services to provide depositary services for its Leadenhall UCITS ILS Fund PLC.

The United Kingdom’s Prudential Regulatory Authority (PRA), part of the Bank of England, has updated its application forms and guidance notes related to the establishment of insurance-linked securities (ILS) vehicles in the country.

Twelve Capital, the Zurich headquartered insurance and reinsurance linked investment fund manager, has now raised almost US $400 million for its UCITS catastrophe bond fund strategy in just 18 months.