Archive for June, 2020

Global reinsurance giant Swiss Re has announced a change at the top, as its Chief Underwriting Officer Edi Schmid is departing the company, to be replaced by the current Life Capital leader Thierry Léger.

Florida headquartered, expansive catastrophe exposed primary property insurer United Insurance Holdings (UPC Insurance) has a new CEO, as John Forney steps down from President and Chief Executive Officer roles to pursue other opportunities.

Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has now raised over $1 billion of capital in the last six months, with the latest being a $300 million senior note debt offering that qualifies as Tier 3 capital.

U.S. primary insurance giant Allstate has reported $350 million of pre-tax losses from natural catastrophe and severe weather events from May 2020, adding to a heavy toll for the start of the aggregate reinsurance contract year for a number of its catastrophe bonds.

We’re delighted to reveal the keynote speakers joining us for our online & virtual ILS Asia 2020 conference this July. The agenda is coming together and we urge you to register soon to take advantage of this opportunity to hear from ILS industry experts.

Metlife, Inc., one of the largest life and annuities insurance groups in the world, has entered the longevity reinsurance market in the United Kingdom, providing a longevity risk transfer arrangement for regular market participant Pension Insurance Corporation plc (PIC).

Apollo Global Management has put its third-party capitalised sidecar vehicle for life and retirement investment opportunities, the Athene Co-Invest Reinsurance Affiliate (ACRA), to good use in completing a massive $27 billion fixed annuity block reinsurance transaction and investment in a subsidiary of Prudential plc.

Results of joint stress tests conducted by the UK’s Prudential Regulatory Authority (PRA) and the Bermuda Monetary Authority (BMA) show that collateralised sources of reinsurance capacity, largely from the insurance-linked securities (ILS) market, are key when it comes to protecting UK and Bermudian re/insurers.

The New Zealand Earthquake Commission (EQC), the state-owned residential property disaster insurance entity, has successfully placed its $6.2 billion reinsurance renewal flat in terms of size with the prior year, citing reinsurers ongoing confidence in the country.

This almost $16.5 million Isosceles Insurance Ltd. (Series 2020-A1) transaction is the first private insurance-linked securities (ILS) arrangement or catastrophe bond from the Marsh & McLennan Companies and reinsurance broker Guy Carpenter operated Isosceles Insurance Limited  transformer and segregated cell structure.