Archive for July, 2020

Bermuda-based insurer and reinsurer Everest Re Group continues to explore ways to evolve and develop its alternative capital play, according to John Doucette, Executive Vice President (EVP) and Chief Executive Officer (CEO) of the Reinsurance Division.

Global reinsurance player Munich Re has revealed that it has suffered €700 million of losses in its reinsurance business from the Covid-19 coronavirus pandemic in the second-quarter of 2020.

Fixed income financial services investment specialist Cohen & Company, LLC has raised €375 million for new investment funds focused on provision of subordinated debt to the insurance and reinsurance sector in Europe.

Welcome to Artemis’ fifth Bermuda-focused ILS executive roundtable, which owing to restrictions caused by the ongoing Covid-19 pandemic was held virtually.

U.S. primary insurance carrier group FedNat Holding Company has reported elevated catastrophe losses from second-quarter severe weather events, which it expects to cost it $48.3 million pre-tax and after reinsurance recoveries made.

The current hard market phase in insurance and reinsurance “has legs” as the levels of capital remain constrained in both traditional and alternative capital markets, analysts at Barclays have said.

Issuance of new catastrophe bonds continued apace through early July, helping total cat bond and related ILS issuance reach $9.6 billion as of this time, according to Artemis’ Deal Directory data. While the demand from investors for higher-returns is increasingly evident, as both spreads and multiples-at-market accelerated over recent weeks.

Reinsurance broker Guy Carpenter has made a string of appointments in its UK focused property facultative broking team, with a number of key hires poached from its rivals.

Here are the ten most popular news articles, week ending 19th July 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.

For many in the insurance-linked securities (ILS) space the experience of losses, creep, and uncertainty around trapped collateral over the past few years was a first, and, undoubtedly, lessons have been learnt.