Archive for December, 2021

Ross Stevens, the CEO of Stone Ridge Asset Management, a New York based asset manager with a focus on alternative risk premia strategies including reinsurance and insurance-linked securities (ILS), has declared that right now his firm has the highest forward conviction on the reinsurance sector since its launch in 2013.

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has teamed up with the United Nations World Food Programme (WFP) to link its parametric disaster insurance payouts with social protection systems in Dominica.

MS Amlin has returned to the capital markets for a repeat of its landmark Asian property catastrophe risk collateralised reinsurance sidecar arrangement, with a $37.5 million issuance of Series 2022-1 notes through newly established Singapore SPV Phoenix 2 Re Pte. Ltd.

A late season wildfire outbreak in Colorado has caused significant damage overnight, with around 600 properties reportedly destroyed as fast-moving, wind-driven wildfires burn in the Boulder County area, to the north of Denver.

New research suggests hurricane and typhoon activity may shift further towards the poles, with tropical cyclone zones expanding and as a result hurricanes and typhoons occupying a broader range of latitudes in future, all because of climate change.

A misalignment of priorities has led to some last minute challenges for buyers of retrocession at the January 1st 2022 reinsurance renewals, as ceding reinsurers have in some cases been left disappointed with capacity they had targeted drying up.

A long-standing pension investor in insurance-linked securities (ILS), the Pennsylvania Public School Employees’ Retirement System (PSERS) is planning a withdrawal from the sector, as part of a planned divestment of all absolute return strategies.

Validus, the Bermuda headquartered reinsurance underwriting arm of AIG, has now secured $400 million of retrocession from its latest catastrophe bond, as the Tailwind Re Ltd. (Series 2022-1) renewal transaction failed to reach the upper-end target, but all four tranches of notes were priced at attractive coupon levels.

Insurance origination and distribution specialist Amwins has highlighted how unusual the hard market in property risks is at this time, especially for catastrophe exposed properties, as rather than a lack of capital driving rates higher, it is risk aversion that is driving harder rates.

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) has continued to grow in the last quarter of record, adding a further 7% to reach over $191 million in assets.