Archive for July, 2020

Purchasing of retrocessional reinsurance coverage in industry-loss warranty (ILW) form was seen to show a “material increase” around the mid-year renewal season, according to broker Aon.

Cohen & Company, LLC, the fixed income financial services focused investment specialist, has launched its second Special Purpose Acquisition Company, or SPAC, that targets insurance, reinsurance and insurtech investment opportunities.

Global reinsurance firm Swiss Re expects that while it seems that some losses from the Covid-19 pandemic could fall to its quota share sidecar investors, the amount won’t be significant.

Catastrophe risk modelling specialist RMS has said that the ultimate insurance and reinsurance industry loss from recent hurricane Hanna’s impacts largely in Texas are unlikely to exceed the $400 million mark.

Specialty insurance and reinsurance player Brit Ltd. highlighted the important benefit of the capital partner relationships behind its Sussex Capital collateralised reinsurance structure this morning, while the firms third-party investors appear to have taken a small share of losses in the first-half.

In reporting his companies first-half 2020 results this morning, Swiss Re’s CEO Christian Mumenthaler said that the $2.5 billion of largely IBNR reserves set aside for losses from the Covid-19 pandemic should be sufficient to cover the majority of the firms ultimate.

In reporting their results today, two of the largest reinsurance brokers displayed growth in revenues and business opportunities in the current firming market conditions, which suggests their profits should increase further over the coming months, as the benefits of harder reinsurance rates globally begin to flow through to their bottom-lines.

We often discuss the investing fire-power that insurance and reinsurance deals bring to major players, such as Warren Buffett’s Berkshire Hathaway. But, perhaps the real lead example of insurance related investment float accumulation is Apollo Global Management, Inc.

Markel Corporation is expecting to settle the binding arbitration case between it and the former Markel CATCo CEO Tony Belisle during the third-quarter of the year, putting another piece of the legal saga behind it.

RSA Group, the UK based insurance group, has warned reinsurers signed up to its Group Volatility Cover (GVC) and catastrophe reinsurance that it hopes to be able to pass on Covid-19 pandemic related losses, above certain levels, to each of those programs.