Archive for November, 2021

Inver Re, the recently launched global reinsurance brand of the Ardonagh Group, has made a key hire with a focus on alternative sources of reinsurance capital and ILS markets, appointing former RFIB and Howden executive Nick Griffiths as a Director.

Insurance and reinsurance market losses from severe weather and convective storms in the United States is approaching $20 billion in 2021, with tornadoes and storms driving the tally higher in October, according to Aon.

Here are the ten most popular news articles, week ending November 14th 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.

AXIS ILS, the insurance-linked securities and third-party reinsurance capital arm of global specialty player AXIS Capital, has announced the hire of former Securis Investment Partners executive Patrick Witteveen, who joins the unit as Head of AXIS ILS Business Development.

Catastrophe reinsurance underwriting business is still “value creating” for global reinsurer Swiss Re, but the company has been sending “strong signals” to the market through its pricing of late, according to CFO John Dacey.

Brit Ltd., the specialty insurance and reinsurance player with a third-party capital management operation under its Sussex Capital entity, is now close to seeing its aggregate reinsurance protection triggered after the major third-quarter catastrophes.

Reinsurance broker Gallagher Re has announced the hire of a dedicated cyber insurance-linked securities (ILS) resource, adding Theo Norris from Aon Securities as a resource to help bring new capacity to the cyber market.

United Insurance Holdings (UPC Insurance), the Florida headquartered but regionally expansive insurer of catastrophe exposed property, benefited significantly from changes made to its reinsurance program at the last renewals, as a larger proportion of its catastrophe losses was ceded to its reinsurers in Q3 2021.

Markel CATCo Investment Management acknowledged the delay to the buyout process for its retrocessional reinsurance investment funds this morning, but said that any challenges from investors would be vigorously defended against.

Insurance and reinsurance broker Aon estimates that as of early fourth-quarter 2021, global insured losses from natural disasters and severe weather are running around 13% above the annual decadal average, having reached roughly $107 billion.