Archive for September, 2021

ILS fund managers and reinsurance companies both need to demonstrate they can deliver the returns their investors are expecting, as it is clear that in 2021 “capital is not coming in at any cost,” according to Luca Albertini, CEO of London-headquartered Leadenhall Capital Partners LLP, a subsidiary of MS Amlin.

California based utility the Los Angeles Department of Water and Power (LADWP) has finally secured $30 million of wildfire insurance cover from its second catastrophe bond issue, after the Power Protective Re Ltd. (Series 2021-1) deal was priced at the raised coupon level.

The development of a robust cyber retrocessional reinsurance market and the use of insurance-linked securities (ILS) or alternative capital, would help the cyber insurance market with its capital management and make much-needed capacity available, according to S&P Global Ratings.

Catastrophe data aggregator PERILS AG has expanded its real-time industry loss forecasting software tool to cover Australian hail storm events and has upgraded the European windstorm and Australian tropical cyclones versions as well.

Ledger Investing has launched its first insurance-linked securities (ILS) fund, a casualty risk focused strategy backed by a single investor, and an ILS management unit, Ledger ILS Managers LLC. While the firm plans a $300 million co-mingled casualty ILS fund strategy as well.

Hudson Structured Capital Management Ltd., which enters into insurance and reinsurance investment business as HSCM Bermuda, has participated as an investor in a $60 million Series B funding round for auto and rideshare focused insurtech company Buckle, expanding its investment in the company.

Giant asset manager BlackRock is aiming to raise more than $2.3 billion for its new environmental, social and governance (ESG) investment fund strategy that includes catastrophe bonds as one of its target asset types.

The steady growth of Stone Ridge Asset Management’s more catastrophe bond focused mutual insurance-linked securities (ILS) fund has continued in the last quarter of record, while at the same time the investment manager’s interval ILS fund strategy shrank further as it realised more losses and return of capital.

Demonstrating that catastrophe bond funds and investors won’t buy into risk at any cost, we’re told that the second California wildfire cat bond from the Los Angeles Department of Water and Power (LADWP), the still unsized Power Protective Re Ltd. (Series 2021-1), has seen its price guidance rise considerably.

Climate change has returned to the top of a global ranking of perceived risks, according to risk management experts and public opinion, but in some regions of the world the pandemic remains the major concern, according to insurance and reinsurance company AXA in a new report.