Archive for January, 2021

Pillar Capital Management Limited, a Bermuda headquartered specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager, has continued to have fund raising success through 2020, lifting its ILS assets managed by 39% to reach $2.4 billion as of the start of 2021.

U.S. primary insurance carrier Travelers has successfully renewed its aggregate catastrophe reinsurance treaty at the January 2021 renewal season, with the layer set to provide it with slightly more coverage than last year but at a higher attachment point.

Vantage Risk, the insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, has established its first insurance-linked securities (ILS) vehicle in Bermuda, a collateralized insurer class company named AdVantage Retro I Ltd.

Bermuda headquartered reinsurance company PartnerRe has set up a new retrocession and specialty reinsurance focused investment vehicle named Laplace-C and secured backing from private equity player Olympus Partners.

The insurance and reinsurance industry loss estimate for the severe hailstorms that struck the southeastern region of Australia in January 2020 has been raised by roughly 4% to almost AU $1.9 billion.

The targeted size of the second parametric earthquake catastrophe bond for specialist mortgage security focused investment manager Bayview Asset Management, LLC looks like it could increase in size by as much as one-third, with the upper target for the Sierra Ltd. (Series 2021-1) cat bond deal now lifted to $200 million.

Quality and availability of data is seen as vitally important by insurance and reinsurance market players interested in covering drought related risks, as they seek to reduce basis risk in offerings, a survey from VanderSat has found.

A combination of forces coalesced in the second-half of 2020 which served to reduce demand for retrocession capacity at 1/1, resulting in a less constrained marketplace than initially expected, according to James Vickers, Chair of Willis Re International.

Bermuda has benefited from a robust year for insurance-linked securities (ILS) and other areas of reinsurance related investment through 2020, with assets under management of investment funds located in the domicile increasing during the year, as new private and closed fund structures have also been established.

Vesttoo, which uses proprietary artificial intelligence and machine learning solutions to help companies assess and transfer risks to the capital markets, has published mortality risk models and forecasts for the U.S. including COVID-19 impacts, and offers the resulting index for mortality risk transfer transactions.