Archive for February, 2022

Global reinsurance company SCOR appreciates diversity within its retrocessional reinsurance panel, but aims to keep a roughly 50/50 mix, between ILS and traditional limit, as it appreciates both the mix of products and long-term relationships available, Jean-Paul Conoscente, CEO of SCOR Global P&C said yesterday.

Leadenhall Capital Partners LLP, the London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager, has announced a new business development and fundraising focused hire, adding Alistair Jones from SEI Investments.

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, experienced further inflows to its insurance-linked securities (ILS) fund strategies through 2021, to end the year with record assets of above US $3 billion.

Vantage Risk, a Class of 2021 insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, has gained a significant vote of confidence in securing another commitment of up to $200 million in private equity funding.

Global insurance and reinsurance market losses from natural catastrophes and severe weather events reached an estimated $122.4 billion for full-year 2021, according to analysts at investment banking firm Jefferies.

At the end of last year and around the key reinsurance renewal season, catastrophe bond funds and cat bond investors showed both their strong appetites for assuming risk, as well as some caution when it comes to risks that are less frequently seen in the cat bond market, investment manager Plenum explained.

Australian primary insurer Suncorp has purchased an additional $75 million in aggregate excess-of-loss reinsurance in December in response to its natural catastrophe costs coming in well-above budget for the first-half of its fiscal year.

France-headquartered global reinsurance firm SCOR has reduced its natural catastrophe exposure at the January renewals and managed a challenging retrocession market through the use of third-party capital and upsizing its sidecar capacity to US $300 million.

Rhodri Lane is to depart from his employer Aon Securities, leaving his London-based role at the firm as Managing Director, International Capital Markets, Artemis has learned.

Vermeer Reinsurance Ltd., the joint-venture and rated underwriting vehicle that is managed by RenaissanceRe and capitalised by Netherlands-based pension investor PGGM, expanded its balance-sheet to $1.3 billion in 2021, as the investor added a small amount to its commitment during the year on behalf of Dutch pension PFZW.