Archive for September, 2021

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, eventually secured close to $508 million of mortgage reinsurance through its latest Bellemeade Re 2021-3 Ltd. mortgage ILS transaction, but added another $131.5 million of reinsurance from the traditional market at the same time.

MS Amlin AG, the international reinsurance arm of MS Amlin and part of the Japanese MS&AD group, has announced the launch of a practice with a focus on agriculture and weather index products with the hiring of former PartnerRe exec Rinat Bektleuov.

We’re holding another live webcast on September 30th, register here, with a focus on how innovative techniques can enable investors to access the returns of insurance and reinsurance business, especially in the higher frequency, but lower severity life and P&C space.

Despite the fact more capital inflow to the insurance-linked securities (ILS) sector is expected and more new start-up capital is expected to launch in traditional insurance and reinsurance, rating agency AM Best does not expect this to affect the chances of additional rate firming happening.

The board of the Arkansas Teacher Retirement System, a state pension fund that provides retirement solutions to Arkansas education professionals, voted yesterday to redeem an investment in a Nephila Capital managed ILS fund and make a new allocation to one managed by Pillar Capital, on the recommendation of consultant Aon Hewitt.

AXA XL, the commercial property & casualty insurance and reinsurance arm of the AXA Group, has named senior employee Andrew  (Andy) MacFarlane as its first Head of Climate.

A new risk transfer product for urban landslides in the Manizales area of Colombia has been developed by Global Parametrics alongside Latin American catastrophe risk modeler ERN and Ingeniar, a private advisor on risk management to the local government of Manizales.

The United Nations Development Programme (UNDP) has today launched the Insurance and Risk Finance Facility (IRFF), a new initiative that aims to build financial resilience and bridge a $1.4 trillion global health, mortality, and disaster protection gap, with support from the insurance-linked securities (ILS) market expected in future.

While the momentum behind rate firming in reinsurance has continued to fade so far this year, the direction of travel has been positive and better margins are ahead for the reinsurance sector, according to Fitch Ratings.

Having announced this morning that a proposal has been made to investors to speed the running-off and return of capital of the Markel CATCo retrocessional reinsurance investment funds, the half-year report of the manager’s public fund suggests further wildfire subrogation related recoveries are possible.