Archive for November, 2021

Global reinsurance firm Hannover Re is underscoring its position as a pure-play reinsurer by selling its stake in joint venture HDI Global Specialty SE and targeting further growth.

Global insurance and reinsurance giant Zurich has exhausted its aggregate catastrophe reinsurance protection during the third-quarter, as significant losses from hurricane Ida and the European floods took their toll.

Activity surrounding the buyout terms proposed to investors in the Markel CATCo Investment Management retrocessional reinsurance investment funds looks set to drag on, after a court appearance in Bermuda ended with Markel agreeing to provide additional information to creditors, we understand.

Conditions in the catastrophe bond market look positive still in 2021, as year-end fast approaches, with both the pipeline for new cat bond issuance and the capital flows to cat bond fund managers healthy, signalling a favourable bond market environment, according to Aon.

Allianz intends to make some tweaks to its catastrophe reinsurance arrangements at the renewals, although overall its reinsurance arrangements are expected to remain fundamentally unchanged and changes are expected to be to the aggregate coverage, the insurers CFO Giulio Terzariol said yesterday.

During the third-quarter of 2021 primary carrier FedNat reported a reduction in its net catastrophe losses as its robust reinsurance arrangements really came into their own, with the insurer ceding some $562 million of gross catastrophe losses to its reinsurance partners.

As reinsurance market modernisation and digitalisation continues apace, there are still a lot more gains to be made and as a result the industry can expect to unlock greater value and insight across the entire market chain, according to speakers in our recent live webcast.

Insurance-linked securities (ILS) related fee income and profit shares can become a “significant contributor” to the earnings of insurance and reinsurance firms that manage third-party capital, according to rating agency Moody’s.

Radian Group has now successfully secured another roughly $484 million of collateralized mortgage reinsurance for its Radian Guaranty subsidiary with the completion of its latest Eagle Re 2021-2 Ltd. issuance of mortgage insurance-linked securities (ILS).

The London Bridge Risk PCC insurance-linked securities (ILS) structure that enables quota share access to the Lloyd’s insurance and reinsurance market for third-party investors helps to “simplify” investment structures for the first backer of a deal, Ontario Teachers’ Pension Plan (OTPP).