Archive for April, 2022

Assets under management (AUM) of the main UCITS catastrophe bond funds as a group increased during the first-quarter of 2022, but perhaps a little surprisingly growth has slowed somewhat, despite new issuance having been buoyant.

ILS fund and reinsurance linked investment manager ILS Capital Management is changing its name to Resolute Global Partners, as it expands its scope of investment to include more insurance and reinsurance related opportunities.

The Fontana Holdings third-party capitalised casualty and specialty reinsurance focused joint venture vehicle launched by Bermudian reinsurer RenaissanceRe will have the flexibility to become market-facing and write business directly for counterparties, it seems.

Italian primary insurance company UnipolSai Assicurazioni S.p.A. has returned to the catastrophe bond market for what will be its fourth issuance, with a €100 million Azzurro Re II DAC (Series 2022-1) issuance that seeks to extend its sources of earthquake reinsurance protection from the capital markets.

Florida headquartered but nationally expansive property and casualty insurer Heritage Insurance Holdings, Inc. has now secured its new Citrus Re Ltd. (Series 2022-1) catastrophe bond at the original $100 million size, but with pricing now fixed above the initial guidance range.

Property and casualty (P&C) insurer United Insurance Holdings Corp. (UPC Insurance) has announced a plan to rationalise and consolidate its Florida property insurance writing.

Fixed income financial services investment specialist Cohen & Company, has made a $45 million debt investment into Brotherhood Mutual Insurance Company through its subsidiary Dekania Capital Management.

Program business, especially that focused on casualty lines of insurance and reinsurance, should prove increasingly attractive to insurance-linked securities (ILS) investors over time, as the cash-positive nature of the structure is beneficial for them, Shevawn Barder, CEO of AM RE Syndicate told us in a recent interview.

Lawmakers and insurance market interests continue to push for a special legislative session in Florida, to raise and enact property insurance reforms to prevent the local marketplace from continuing down a path towards total “collapse,” but there’s a lot of uncertainty still over whether it will happen.

The senior leadership of global reinsurance company Swiss Re is bullish that insurance-linked securities (ILS) investor appetite will recover after a recent lull caused by losses and uncertainty, they explained at the firm’s investor day yesterday.