Archive for April, 2021

Aspen Insurance Holdings Limited has increased its target size for its latest catastrophe bond, with the company now aiming to secure $300 million of collateralized reinsurance protection from the Kendall Re Ltd. (Series 2021-1) transaction, while pricing has been reduced across the deals tranches.

Amundi US Investment Management’s dedicated insurance-linked securities (ILS) mutual investment fund grew its net assets by another 7% in the last quarter of record, reaching $937 million at the end of January 2021.

The April reinsurance renewal season confirmed SCOR’s expectations of “significant and generalized market hardening trends” according to Jean-Paul Conoscente, CEO of SCOR Global P&C.

Price gains achieved by reinsurance underwriters are likely to prove generally more sustainable than those achieved by property and casualty (P&C) insurance carriers, but margin gains may prove lower due to the unique pressures reinsurers face, according to Morgan Stanley analysts.

Insured property asset values continues to expand at a rate generally faster than GDP growth despite the effects of the pandemic and the recessions it has caused around the world, according to PERILS AG.

The industry loss warranty (ILW) market saw pricing spike to levels aligned with the pre-mid year 2020 market, as attention shifts to arranging hedges and covering Florida exposures, broker Willis Re has said.

US primary insurer Allstate revealed today that its catastrophe losses, before reinsurance, subrogation recoveries and taxes totalled $1.67 billion for the first-quarter of 2021, a significant proportion of which will be offset by recoveries under reinsurance and also its Sanders catastrophe bonds, it seems.

Allianz Global Corporate & Specialty (AGCS) has appointed David Brown as its new head of Capital Solutions, a team focused on the insurance-linked securities (ILS) market, transferring insurance risk to capital markets, as the current unit leader Richard Boyd is leaving the firm.

AXIS Capital, the Bermuda-based, globally-active insurance and reinsurance company, has pre-announced an expectation that it will shoulder up to $90 million of losses after February’s US winter storms, which it bases on an expected industry-wide loss of between $13 billion and $14 billion.

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, is back in the market for its latest slice of catastrophe bond backed reinsurance protection, with a $125 million Pelican IV Re Ltd. (Series 2021-1) deal.