Archive for November, 2020

Reinsurance Group of America (RGA) remains confident that its joint-venture, third-party capital backed life and annuity reinsurance firm Langhorne Re will secure its first transaction “in due course”, according to the company’s CEO Anna Manning.

More than 200,000 insurance claims have now been reported in the state of Iowa due to damage caused by August’s severe Derecho storm event in the Midwest United States.

The flight to quality in the insurance-linked securities (ILS) market has been well-documented, as some investors have opted to shift allegiance to ILS fund managers that are deemed higher quality, due to their longevity, track-records, or affiliations.

Over the next five years, the insurance-linked securities (ILS) market is going to be larger as it spreads beyond the property arena, while frictional costs are anticipated to decline against a backdrop of growing investor interest.

Alphabet, Inc., the holding company for Google and its many units, has entered the catastrophe bond market for the first time, as the technology giant seeks $237.5 million of earthquake insurance protection that will be fully collateralized through the issuance of a Phoenician Re Ltd. (Series 2020-1)  cat bond transaction to capital market investors.

Miller Insurance Services LLP, the wholesale and London broker majority owned by Willis Towers Watson (WTW), is to be acquired by private equity specialist investor Cinven and Singapore’s sovereign wealth fund GIC.

American International Group’s (AIG) insurance-linked securities and collateralised reinsurance investment manager entity, AlphaCat Managers, saw a slight decline in ILS assets under management during the third-quarter of the year, but delivered its parent improved investment fee income.

Allied World Assurance Company (AWAC), a global insurance and reinsurance company and part of the Fairfax Financial group, is set to sponsor its first ever catastrophe bond, with a $150 million targeted issuance of this new 2001 CAT Re Ltd. (Series 2020-1)  multi-peril transaction.

The life settlements market will not be immune to the effects of the global COVID-19 pandemic, according to investment management consultancy Conning, but this won’t hinder it from achieving continued growth the company said.

The market for catastrophe bonds and related insurance-linked securities (ILS) has already broken the annual record for number of deals issued in 2020, as this year remains on-track to break the record for the dollar-amount issued as well.