Archive for March, 2022

PGGM, the Dutch pension fund investment manager that continues to be the largest single investor in the insurance-linked securities (ILS) market, increased its ILS portfolio to roughly US $8.2 billion, while adding new mandates with Aeolus, SCOR and a managed account structure named Nightingale Re.

Nephila Capital, the largest dedicated investment manager in the insurance-linked securities (ILS), weather and catastrophe reinsurance space, has reported a more profitable year for its flagship Lloyd’s of London Syndicate 2357 in 2021, as its premiums written also soared year-on-year.

Florida’s Citizens Property Insurance Corporation is seeking perhaps the steepest rate increases it has implemented for some years at an upcoming hearing with the regulator.

Interest in the relevance of insurance-linked securities (ILS) from an ESG standpoint continues to grow, but while there’s consensus that the market has a role to play, being viewed as positive is not enough, according to Vincent Prabis, Managing Principal at Hiscox ILS.

Lighthouse Property Insurance Corporation has the unfortunate title of becoming the first coastal property insurance specialist to lose its rating as the 2022 hurricane season approaches, as Demotech withdrew its Financial Stability Ratings citing a reduced capitalisation due to losses from Ida.

The insurance and reinsurance industry loss from the three major European windstorms that struck in series over a few days during the month of February 2022 has been preliminarily estimated at close to EUR 3.3 billion by data aggregator PERILS AG.

Julian Enoizi, the former CEO of UK government backed terrorism reinsurance entity Pool Re, has been hired by global reinsurance broker Guy Carpenter, to lead its global Public Sector efforts.

Centaur Group, the owner of Centaur Fund Services, a fund administration and service provider including to the insurance-linked securities (ILS) fund market, is joining Waystone, a leading institutional provider of services to the asset management industry.

Robus, the insurance management, fiduciary and financial advisory firm that is part of the wider Ardonagh insurance and reinsurance Group, has named Jamie Polson as the new leader of its Robus Guernsey office.

The global insurance and reinsurance industry faced $111 billion of natural catastrophe losses in 2021, according to Swiss Re, which is a 6% increase on its $105 billion estimate from December.