Archive for June, 2020

While capacity and the availability of it has been cited as a key driver of reinsurance rates in this current firming market environment, broker Guy Carpenter said it expects capacity will meet cedent needs at future renewals, as it saw it to in June this year.

The cost of third-party or insurance-linked securities (ILS) capital has risen, while its supply has been dented by the Covid-19 pandemic, according to RenaissanceRe, the Bermuda-headquartered reinsurance company and third-party capital manager.

The central American nation of Belize has benefited from a payout of its parametric excess rainfall policy, provided by the CCRIF SPC, after rains from tropical storms Amanda and Cristobal triggered its coverage.

Despite the impacts of the Covid-19 coronavirus pandemic, the medical benefit claims ratio reported by insurer Aetna for the first-quarter of 2020 has remained well-below the levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered, we can report.

Southern Mexico was struck by a significant Magnitude 7.4 earthquake on Tuesday at around 15.30 UTC, but while the location of the earthquake appears to have fallen within a box relevant to the parametric trigger of the World Bank supported IBRD / FONDEN 2020 catastrophe bond, it does not look strong enough to have triggered […]

The recently completed Windmill II Re DAC (2020) catastrophe bond transaction effectively integrates within the property catastrophe reinsurance program of sponsor Achmea, according to the deals structuring agent and bookrunner Willis Re Securities.

Global reinsurance firm Swiss Re has raised the upper-end target for its latest catastrophe bond, with the Matterhorn Re Ltd. (Series 2020-4)  transaction now aiming to secure as much as $275 million of capital markets backed retrocession for the sponsor.

Lockton Capital Markets, the unit with an alternative capital and insurance-linked securities focus at the largest independent insurance broker of the same name, has announced the hiring of Richard Pan as Managing Director, an executive with asset management, reinsurance and structuring expertise.

While global reinsurance giant Munich Re said that it has the financial strength to withstand the economic hit from the Covid-19 pandemic, the reinsurer will not put in place any profit guidance for the full-year, saying the uncertainty over losses remains high.

Nephila Capital, the world’s largest insurance and reinsurance linked investment fund manager, is expanding its activities in the key Lloyd’s of London marketplace with the launch of a new syndicate that will follow selected specialty lines underwriters performance.