Archive for April, 2021

Vantage Risk, the insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, is in the market to sponsor its first catastrophe bond, with a $150 million Vista Re Ltd. (Series 2021-1) North American multi-peril deal.

The CATCo Reinsurance Opportunities Fund Ltd., the stock exchange listed retrocession focused strategy managed by Markel CATCo and in run-off at this time, is continuing to benefit from reducing loss exposure and releases of side pocketed investment capital.

RenaissanceRe, the Bermuda headquartered reinsurer and third-party reinsurance capital manager, has pre-announced an expectation that losses from winter storm Uri will have a net negative impact of around $180 million on its first-quarter 2021 results.

In some situations, parametric insurance and risk transfer arrangements can benefit the protection buyer by providing coverage that wouldn’t have been available under a traditional indemnity insurance policy. You can learn about this and more in our upcoming live webcast (register here).

Scientists, meteorologists and other experts with a view on wildfire related conditions in the state of California are warning of the potential for an extreme, potentially catastrophic 2021 wildfire season, as tinder dry conditions begin particularly early in the year.

Everest Re, the globally active insurance and reinsurance company, has now finalised the pricing on the latest $650 million of fully-collateralized retrocessional reinsurance protection from its Kilimanjaro Re catastrophe bond program at the low-end of already reduced guidance.

Having restarted the clock and extended the deadline for a decision on the process to approve or deny the proposed merger of insurance and reinsurance broking giants Aon and Willis Towers Watson (WTW) just a few days ago, the European Commission (EC) has now pushed it forwards again by another roughly two weeks.

The catastrophe bond market looks set to face some additional losses under Caelus Re catastrophe bonds sponsored by US primary insurance giant Nationwide Mutual Insurance Company, as its aggregate risk period losses have risen after February’s US winter storms and Texas freeze.

Strong investor appetite enabled sponsors of traditional 144A catastrophe bond transactions to upsize target levels of reinsurance protection during the first-quarter of the year.

A catastrophe has been declared for the impacts of Cyclone Seroja in Western Australia, after the storm made landfall on Sunday, April 11th close to the town of Kalbarri as a Category 3 equivalent tropical cyclone, with gusts of up to 170km/h (105mph).