Archive for February, 2020


SCOR’s P&C underwriting profits despite higher loss ratio in 2019

France headquartered global reinsurance firm SCOR delivered a profit from its property and casualty underwriting business in 2019 despite higher than budgeted catastrophe losses and an overall loss ratio that came out higher than the prior year. SCOR has reported its results this morning, revealing positive net income of EUR 420 read the full article →

Lloyd’s says third-party & ILS capital solution plans to continue

Lloyd’s of London said that it will continue progressing its plans to make the insurance and reinsurance market more welcoming and accessible to insurance-linked securities (ILS) capital providers, but only in parallel with its 2020 priority deliverables under the first phase of the Future at Lloyd’s. As we explained earlier this read the full article →

Arkansas Teacher pension fund tops up its Aeolus ILS allocation

The Arkansas Teacher Retirement System, a state pension fund that provides retirement solutions to Arkansas education professionals, has approved another $30 million allocation to ILS and reinsurance focused investment manager Aeolus Capital Management at the end of 2019. The Board of Trustees approved the fresh allocation to Aeolus' Property Catastrophe Keystone read the full article →

Argo increases use of third-party capital again in 2019

Use of third-party capital has continued to increase at Bermuda headquartered international specialty insurance and reinsurance firm Argo Group, with its net premiums dipping as a result of sharing more of its underwritten risk premiums (and likely losses) with third-party investors. Argo has been steadily ramping up its use of third-party read the full article →

Qatar Re’s van der Straaten named CEO of QIC Global

Michael van der Straaten, the CEO of reinsurance group Qatar Re, has now also been appointed as the CEO of QIC Global, the international specialty insurance and reinsurance subsidiary of Qatar Insurance Group. Michael van der Straaten takes on the role of CEO of QIC Global (International), effective 1st March 2020. He read the full article →

Coronavirus pressure on pandemic cat bond rises as virus spreads

The pressure is rising on the World Bank’s pandemic catastrophe bond transaction as the novel coronavirus (2019-nCoV or Covid-19) spreads internationally and the number of deaths in certain countries around the globe nears the trigger point. As we explained in January, the novel coronavirus (2019-nCoV or Covid-19) outbreak that began in read the full article →

Loss creep uncertainty drove cedents to trap more collateral: Aon

Reinsurance and retrocession cedents have been trapping increasing amounts of ILS collateral for longer periods of time than in the past, broker Aon said, as uncertainty over loss creep from catastrophe events has driven them to be more cautious. Uncertainty over loss development has been a key factor in the insurance-linked read the full article →

FloodSmart cat bond helps FEMA grow reinsurance lynchpin to $2.53bn

The U.S. Federal Emergency Management Agency (FEMA) successfully secured its latest and third catastrophe bond issuance, FloodSmart Re Ltd. (Series 2020-1), at the upsized target of $400 million, adding to its "lynchpin" flood reinsurance program. With the addition of the latest catastrophe bond FEMA's flood reinsurance coverage for the National Flood read the full article →

Coca-Cola pension fund’s ILS allocation shrank again in 2019

The insurance-linked securities (ILS) allocation of the pension fund of global beverage giant The Coca Cola Company has shrunk again in 2019, ending the year -14% smaller likely due to a continuation of loss impacts following the major catastrophe events of recent years. The Coca-Cola pension fund has been invested in read the full article →

Markel CATCo proposes compulsory buy-backs of listed retro fund shares

Retrocessional reinsurance investment manager Markel CATCo is proposing to make compulsory redemptions or buy-backs of some of the remaining shares of its listed and in run-off investment strategy the CATCo Reinsurance Opportunities Fund Ltd. Markel CATCo Investment Management has been managing the run-off of its retrocessional reinsurance fund strategy over recent read the full article →