Archive for December, 2019

As the retrocessional reinsurance market deals with a crunch of capacity, trapped collateral from ILS players and the disappearance of a core product from the market, some traditional players are returning and increasing their appetites, including Berkshire Hathaway, we can report.

With less than two months to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020, we have some more speakers to announce. Please register soon to secure your ticket at the best possible price.

It looks like Aberdeen Standard Investments may exit the insurance-linked securities (ILS) sector, as it has struggled to find a new investment opportunity that meets its risk and return target requirements, while fitting the mandate of one of its funds.

The economic consequences of climate change may prove particularly severe for insurance and reinsurance companies in the property and casualty (P&C) space, presenting both a threat and an opportunity, but the latter may require access to capital to take full advantage of it.

Global reinsurance giant Swiss Re has returned to the catastrophe bond market and is seeking to sponsor its second Matterhorn Re catastrophe bond in six months, as it looks to secure at least $175 million of retrocession against U.S. named storm losses.

The extent of the devastation caused by recent typhoon Kammuri’s impacts on the Philippines has become clearer, as the latest report from the government shows more than 460,000 properties damaged.

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, has become the first to register a vehicle under Bermuda’s recently established “Collateralized Insurer” class of company.

Hong Kong is still aiming to establish itself as a local market hub for insurance-linked securities (ILS) and catastrophe bond business, with its key focus to help Chinese mainland insurance or reinsurance companies access the capital markets.

Bermuda-headquartered global reinsurance firm RenaissanceRe is returning to the catastrophe bond market for the first time since 2013, with a $250 million or larger Mona Lisa Re Ltd. (Series 2020-1) transaction, a clear sign that retro market conditions are making cat bond coverage more attractive to sponsors.

Flooding and severe storms across Europe during November are expected to drive multi-billion economic losses across the region, with insurers likely to pick up a reasonable proportion of the bill.