Archive for March, 2022

Fee income earned rose in 2021 for Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting unit of specialist underwriter Hiscox Group.

Reflecting the significant growth in its use and management of third-party reinsurance capital over the last calendar year, PartnerRe, the Bermuda headquartered reinsurance company ceded a significant increase in premiums to its main insurance-linked securities (ILS) vehicle in 2021.

The Insurance Council of Australia (ICA) has today revealed that claims from the recent and ongoing extreme rainfall and flooding in Southeast Queensland and New South Wales has increased by 12% on yesterday’s count, raising the insured loss estimate to more than $1 billion.

The cyber-attack threat is elevated this year and as the need for risk transfer grows, the re/insurance and insurance-linked securities (ILS) market would benefit from considering ways to formalise what losses are included under cyber ILS deals, according to Tom Johansmeyer, Head of PCS.

Longevity analytics firm, Club Vita has partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital marketplace for trading in index-based longevity risk, to improve both the transparency and efficiency of the longevity risk transfer market.

Vesttoo, the insurtech that uses proprietary artificial intelligence and machine learning to help companies assess and transfer risks to the capital markets, has hired a number of high-profile members to spearhead its global expansion as the company strives towards its $7 billion capacity target.

Through 2021, Bermuda headquartered insurance and reinsurance firm AXIS Capital managed down its catastrophe probable maximum losses (PML’s) through portfolio pruning and use of third-party capital.

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform, has completed the first issuance we’ve seen of 2022, with a $75 million Eclipse Re Ltd. (Series 2022-1A) transaction coming to light.

The Insurance Council of Australia (ICA) has continued to count rising claims from the recent and in some parts ongoing extreme rainfall and flooding that has affected the Australian east coast region, with claims rising another 25% in the last day and an early estimate of $900 million being given for the insured cost so […]

Insurance and reinsurance broker Miller, the independent and private equity funded broking group, is seeking to build on its insurance-linked securities (ILS) activity in Bermuda with the hire of former Markel and Lodgepine employee John Duda.