Archive for October, 2021

Cincinnati Financial Corporation benefited from a retrocessional reinsurance recovery for its reinsurer unit Cincinnati Re after hurricane Ida, capping the net incurred loss from the storm at $80 million for the company.

The Standards Board for Alternative Investments (SBAI) has this morning announced the launch of its first toolkits targeted at asset managers and allocators to help them with the practical implementation of responsible investment across certain alternative investment strategies and asset classes.

The UK Government’s HM Revenue & Customs (HMRC) is preparing the way to eliminate the need to pay any Stamp Duty related taxes for insurance-linked securities (ILS) transactions or on reinsurance transformers established in the country, which is a key step to make transacting ILS more competitive in the United Kingdom.

While growing its business substantially again in the third-quarter, it seems that global insurance and reinsurance company Everest Re ceded more of its written premiums to reinsurance capacity, either to third-party capital investors in Mt. Logan Re, or its retrocessionaires, as the significant catastrophe losses drove it to an underwriting loss for the third-quarter of […]

The Insurance Council of Australia has increased its estimate for the insurance and reinsurance market loss resulting from the hailstorm event that struck south-east Queensland on October 31st 2020 to A$1.08 billion.

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, ceded more premiums and risk to third-party investors backing its range of insurance-linked securities (ILS) structures, earning more fee income in the process from third-party reinsurance capital management business during the third-quarter of 2021.

Mortgage insurance group NMI Holdings, Inc. has now successfully secured $364 million of collateralised mortgage reinsurance protection from the capital markets with the Oaktown Re VII Ltd. transaction, which is its second mortgage insurance-linked notes issuance of the year.

With rising catastrophe losses impacting insurance and reinsurance markets, S&P Global Ratings believes that use of insurance-linked securities (ILS) is going to increase.

Global insurance and reinsurance firm Everest Re has announced a new senior appointment to the newly created role of Head of North America Reinsurance, hiring Jill Beggs from Munich Re as a Senior Vice President.

Vesttoo, the technology company that uses proprietary artificial intelligence and machine learning solutions with the goal of helping companies assess and transfer risks to the capital markets, has announced a high-profile new addition to its advisory board, with former Swiss Re CEO Jacques Aigrain becoming Chairman.