Archive for December, 2020

Artemis’ data on the catastrophe bond market shows that excess spreads, so the return available above expected loss, of new issuance so far in 2020 is now back at levels last seen in 2012/13.

Use of the capital markets and insurance-linked securities (ILS) solutions to source reinsurance capacity may increase in the wake of 2020, as property and casualty insurers in the United States come to terms with another expensive year on the severe weather and catastrophe front, Kroll Bond Rating Agency (KBRA) believes.

The upcoming January 2021 reinsurance renewals are expected to be lengthier and more complex, as a range of factors play into negotiations, according to reinsurance broker Guy Carpenter.

Well-known London market retrocession focused broker Matt Foreman has now joined Lockton Re as its new Head of the Non Marine Retrocession and Property Specialty Division.

The fact insurance-linked securities (ILS) such as catastrophe bonds and other reinsurance-linked assets clearly demonstrated their value during the height of the COVID-19 pandemic financial market volatility, is likely to draw investors to the sector, Aon Securities believes.

Vantage Risk, the new insurance and reinsurance start-up business from industry veterans Greg Hendrick and Dinos Iordanou, has now launched and revealed a strategy that includes building out insurance-linked securities (ILS) capabilities to drive growth of the company.

Aon’s retrocession and specialty reinsurance broking Global ReSpecialty unit of its Reinsurance Solutions division has hired Marcus Taylor, who previously held senior roles at broker Ed and IAG Re in Singapore.

Fitch Ratings has adjusted its outlook for the global reinsurance sector to stable, from negative, citing the hardening reinsurance market as the reason for its now more positive view on the market.

Lloyd’s based specialist motor insurer ERS will now back the Arcus 1856 syndicate at Lloyd’s, taking over the operation from the Credit Suisse Insurance-Linked Strategies (ILS) team.

AXIS Capital has increased the size of its latest catastrophe bond issuance by 50%, as the Northshore Re II Ltd. (Series 2021-1) transaction is now set to complete at $150 million in size, with pricing now been fixed below the initial guidance.