Archive for May, 2023

The catastrophe bond investment opportunity remains very attractive, even after considering the recent moderation in pricing that has been seen, with the risk-adjusted yield of the cat bond market remaining significantly higher than in the past, according to Twelve Capital.

Tower Limited, the New Zealand based insurance company, has now secured reinsurance reinstatement cover to provide protection for a potential fourth event recovery from its program, after the company announced increased loss estimates for recent severe weather events in the country.

Speaking at a webinar hosted by cyber-focused MGA and Lloyd’s coverholder Parametrix recently, Henning Ludolphs, Managing Director at reinsurance firm Hannover Re, suggested that now is a good time for potential cyber insurance-linked securities (ILS) investors to “get a foot in the door”.

We’re delighted to announce that the Monetary Authority of Singapore (MAS), the central bank and financial regulatory authority, will join us at our upcoming ILS Asia 2023 conference on July 13th and deliver an opening keynote speech.

The Texas Windstorm Insurance Association (TWIA) has now secured the reinsurance and risk transfer it wanted for 2023, with its tower placed to the targeted $4.508 billion and $1.2 billion of that provided by catastrophe bonds.

Catastrophe bond and insurance-linked securities (ILS) market conditions improved somewhat for sponsors during the first-quarter of 2023, with tightening of pricing welcomed by re/insurers, Aon Securities has said.

The London market’s attempt to challenge other insurance-linked securities (ILS) domiciles in winning ILS business to the UK has “failed”, the Chief Executive of the London Market Group has told the Financial Times.

RenaissanceRe is intending to leverage its third-party reinsurance capital and insurance-linked securities (ILS) operations to extract greater efficiencies out of the Validus Re reinsurance book, as it assumes it after the recently announced acquisition, with more investor capital set to be raised to support these efforts.

Gallagher Securities, the insurance-linked securities (ILS) and capital markets broker-dealer division of reinsurance broker Gallagher Re, has hired Jin Shah from RMS who will take on an ILS sales, distribution and trading position at the company.

As part of the recently announced arrangement that will see RenaissanceRe acquiring AIG’s Validus reinsurance units and its AlphaCat Managers ILS operation, AIG has also taken an option to make what is termed a “substantial” investment into two of the RenaissanceRe Capital Partners vehicles.