Archive for May, 2021

Here are the ten most popular news articles, week ending 30th May 2021, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Recent low rates and strong execution in the catastrophe bond market is not the only thing weighing on reinsurance rates around this mid-year renewal season, there is also start-up and newly raised capital to consider.

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle that has a significant amount of backing from insurance-linked securities (ILS) market sources, outperformed the wider Lloyd’s market for 2020, despite feeling the effects of COVID related losses.

Uncertainty around the potential implications of climate change for the insurance and reinsurance industry should not be a barrier to incorporating climate-related risk analysis into decision making, according to Aeolus Capital Management Ltd.

United Insurance Holdings (UPC Insurance), the Florida headquartered insurer, has renewed its core catastrophe reinsurance program with changes to ensure it retains fewer losses and enhanced aggregate features to provide more protection against frequency loss events.

Tropical Storm Risk (TSR) has increased its forecast for the 2021 Atlantic hurricane season in its latest update, with the team now predicting 9 Atlantic hurricanes, 4 of which are forecast to be major Category 3 or greater.

Primary mutual insurer USAA continues to benefit from reinsurance recoveries under its catastrophe bond program, with another small loss payment made from its Espada Reinsurance Limited (Series 2016-1) catastrophe bond transaction.

Rating agency AM Best has chimed in on the issues facing the Florida property insurance market and chief among them is the fact many are going to struggle to maintain their surpluses, leading some to downsize, shed business and move away from the coast.

Heritage Insurance Holdings, Inc., the Florida headquartered, nationally expansive U.S. property casualty insurer, has completed its 2021-22 reinsurance program renewal earlier than previous years and feels it has a stronger tower in place, while also having bought some more protection.

Randall & Quilter (R&Q) Investment Holdings, the specialist non-life insurance and reinsurance legacy investor and program manager, has novated four portfolio agreements related to ILS P&C Re, the property & casualty run-off focused insurance-linked investment fund linked to Credit Suisse and sub-advisor ILS Investment Management (ILSIM).