Archive for January, 2022

Arch Capital has successfully secured roughly $315 million of mortgage reinsurance protection through its Bellemeade Re 2022-1 Ltd. mortgage insurance-linked notes issuance and a traditional reinsurance placement that sits alongside it.

Proposals to lower the aggregate retention point of the Florida Hurricane Catastrophe Fund (FHCF) are facing opposition, as concerns are raised over the condition that a major hurricane loss event would leave the Fund in, if it exhausted earlier.

The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market again, seeking to secure at least $325 million of additional reinsurance protection for its National Flood Insurance Program (NFIP) through a FloodSmart Re Ltd. (Series 2022-1)  issuance, which will be FEMA’s fifth cat bond.

One of the themes coming out of this results season, as re/insurers announce their fourth-quarter and full-year 2021 earnings, is a growing confidence in the ability to expand margins and secure further growth, in a firming reinsurance marketplace.

Well-known catastrophe risk modelling firm AIR Worldwide, which remains the most prolific when it comes to providing risk modelling services to the catastrophe bond market, is being rebranded to fall under the name of its parent Verisk, where it will be known for its “extreme event solutions”.

Descartes Underwriting, the insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, is planning for further growth, having successfully secured a huge vote of confidence by raising a $120 million Series B round.

Here are the ten most popular news articles, week ending January 30th 2022, 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.

RLI Corporation, a traditional specialty insurance and reinsurance company, has expanded its property underwriting in recent quarters, as it seeks to grow into this firming marketplace, driving a need for more catastrophe reinsurance.

Having forecast that the catastrophe bond market could turn neutral towards the end of 2021 earlier this year, the latest data from Lane Financial shows that rate trajectory did pull-back in the final quarter of the year, with the year ending in relatively muted fashion.

MetLife, Inc., one of the largest life and annuities insurance groups in the world, has provided reinsurance to cover $2.4 billion of pension fund related longevity risk for European pension and life consolidator Phoenix Group.