Archive for September, 2022

This morning, participants in the Lloyd’s insurance and reinsurance market were warned to be cognisant of challenging reinsurance market conditions and the renewals that lie ahead, but were also told that the market will support those able to capitalise on this on the inwards side.

The roller-coaster ride for Florida’s Citizens Property Insurance Corporation continues, with the insurer of last resort’s policy count continuing to rise, as a Senator in the state noted that Florida’s property insurance industry is in “collapse”.

Mortgage insurer Essent Guaranty, a wholly owned subsidiary of Essent Group Ltd., has completed its latest insurance-linked securities (ILS) placement, securing $237.9 million of fully collateralised excess of loss reinsurance via Bermuda-based special purpose insurer (SPI), Radnor Re 2022-1 Ltd.

The fifth and final panel session of our ILS NYC 2022 conference, that was held in New York back in April, saw our expert moderators from earlier sessions at the event come together to discuss some of the main threads of conversation from the day.

A hurricane warning has now been issued for Bermuda as major hurricane Fiona approaches the island, with conditions set to deteriorate as the storm passes just to the west.

Reinsurance rates are likely to rise by mid-teens at least at the next renewals as this will only just cover inflation and climate change related effects, with more needing to be added on top to cover cost-of-capital, analysts at Peel Hunt have suggested.

Hurricane Fiona’s impacts in the Caribbean are expected to be a manageable insurance and perhaps reinsurance loss scenario, but the duration of business interruption related to the storm could drive insured losses higher, AM Best has said.

Bermuda headquartered re/insurer Arch Capital is seeking up to $358.4 million of capital markets backed mortgage reinsurance protection with its latest ILS issuance, a Bellemeade Re 2022-2 Ltd. deal.

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) focused investment fund manager, has announced a new research project focused on hurricane prediction, looking at the medium-term time horizon.

Two factors are currently being looked on very favourably by any institutional investors that are researching the insurance-linked securities (ILS) asset class, the stability of an ILS investment managers’ assets over recent years, and importantly how the amount that was actually deployable has fluctuated.