Archive for February, 2020

Here are the ten most popular news articles, week ending 23rd February 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Catastrophe bond spreads are back at levels not seen for at least five years and specialist insurance-linked securities and reinsurance investment manager Twelve Capital believes they have further to go in 2020, making this a compelling year for investors to allocate to the sector.

PGGM, the Dutch pension fund investment manager and the largest end-investor in the insurance-linked securities (ILS) space, has promoted its employee Youssef Sfaif to the role of Director, Credit & Insurance Linked Investments.

Lancashire Capital Management Limited, the third-party capital collateralised reinsurance underwriting arm of specialty insurance and reinsurance group Lancashire Holdings, grew roughly 20% during 2019, to enter the 2020 renewal season with somewhere north of an estimated $600 million of limit available to deploy.

U.S. primary insurance carrier Nationwide Mutual Insurance Company is set for its largest slice of catastrophe bond backed reinsurance coverage ever, after its latest Caelus Re VI Ltd. (Series 2020-1 & 2020-2) transaction has now priced at a 44% upsized $490 million, we’re told.

Income earned from its stake in specialist insurance and reinsurance linked ILS asset manager Pillar Capital and its funds has risen significantly in 2019, as catastrophe loss activity clearly had less of an impact during the year.

Florida headquartered, expansive primary insurer United Insurance Holdings (UPC Insurance) has already renewed more than 85% of its core catastrophe reinsurance program that renews at June 1st, as it hopes to insulate itself against price increases by getting to market early.

Having brought together its insurance-linked securities (ILS) and retrocessional reinsurance activities last year, global firm Swiss Re expects to remain a major player in the alternative capital space, its CFO said yesterday.

After news emerged today that Willis Towers Watson could be looking to sell its stake in wholesale and London broking specialist Miller, the pair have confirmed that they are actively “considering strategic alternatives.”

Florida and regionally focused primary insurance group FedNat Holding Company has provided further indication that catastrophe and weather losses in Florida are continuing to send loss creep into the industry, as it has hardened its reserves for current and prior year events.