Archive for May, 2020

Florida’s Citizens Property Insurance Corporation has now pulled the largest $200 million tranche of Coastal Account linked notes from its Everglades Re II Ltd. (Series 2020-1 & 2020-2) catastrophe bond issuance, leaving just a $100 million tranche being marketed.

Specialist London market insurance and reinsurance firm Beazley has successfully raised around $300 million through an equity placement designed to fund growth, enable it to capitalise on rates and help it respond to the Covid-19 pandemic.

RKH Reinsurance Brokers, a division of the Hyperion Insurance Group and parametric risk transfer and technology focused managing general agency (MGA) Descartes Underwriting have completed a wind risk trade for a European asset owner, using the AkinovA platform.

This week the newest addition to our Artemis Live series of video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets features Cory Anger, Managing Director of GC Securities, the specialist ILS and capital markets unit of reinsurance broker Guy Carpenter.

Dominic Addesso, the former CEO of Everest Re, has been appointed by independent insurance and reinsurance brokerage BMS Group as its new Non-Executive Chairman of its U.S. reinsurance broking arm.

Around six weeks into a joint collaboration to offer insurers and reinsurers a new collateralised whole-account reinsurance offering backed by insurance-linked securities (ILS), Hyperion X and Vario Partners LLP told us they are seeing significant interest.

Insurance-linked securities (ILS) fund managers and reinsurance companies managing third-party capital are likely to see continuing volatility in terms of investor inflows and outflows, as the broader implications of the Covid-19 pandemic continue to emerge.

The European Commission (EC) has launched a consultation on sustainable finance, as it plans to “ensure a sustainable and resilient economic recovery following the coronavirus outbreak.”

A new catastrophe bond sponsor is coming to market in the shape of Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, which has launched its first transaction, a $100 million Herbie Re Ltd. (Series 2020-1) multi-peril cat bond deal.

Lumen Re Ltd., the rated, Bermuda domiciled Class 3A reinsurance underwriting vehicle of LGT ILS Partners, has been called out for exhibiting “significant innovation, while its capital adequacy is cited as being “strongest” by rating agency A.M. Best.