Archive for May, 2022

At our recent ILS NYC 2022 conference in New York, speakers discussed the need to deliver a more predictable experience, where possible, to stakeholders such as insurance-linked securities (ILS) investors and reinsurance counterparties, during the first session of the day which is now available to view online.

The resilience of the global insurance and reinsurance market through periods of protracted stress makes investing into insurance-linked debt a reliable component for any investors fixed income allocation, according to asset manager Twelve Capital.

Progress on property insurance reform continues in the state of Florida, with the first bill from the special session now passing through the legislature having been approved on the House floor, to now make its way to the Governor for signing.

Leadenhall Capital Partners LLP, the London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager, has backed Denver, Colorado based health insurer Friday Health Plans again, leading an equity raise for the company and providing more debt.

US primary insurance giant Allstate making progress with its latest catastrophe bond, a Sanders Re III Ltd. (Series 2022-2) multi-peril issuance that seeks Florida focused reinsurance coverage for the carrier and now looks like it could upsize slightly to $275 million, but with pricing at the top-ends of guidance.

We’ve just published the results of our latest global reinsurance market survey, in which we polled market participants on the state of the market as the key mid-year renewal season fast-approaches.

Having now published the results of its Climate Biennial Exploratory Scenario (CBES), looking at the financial risks posed by climate change for the largest banks and insurers operating in the UK, the Bank of England believes that over-time climate risks could become a persistent drag on earnings.

Some of the companies known for being reinsurance providers of “last resort” could step in to fill some last minute holes at the Florida renewals, according to analysts at KBW, but this would likely only be in higher-quality accounts.

Florida’s lawmakers continue to progress new legislation that they hope will stabilise the states dysfunctional property insurance market, with the package of bills now passing the Senate and heading to the House today.

AXA XL, the commercial insurance and reinsurance operation of the global AXA Group, has announced the promotion of Libby Benet to the role of Global Chief Underwriting Officer (GCUO).