Archive for June, 2023

Lockton Re, the reinsurance arm of the independent broking group, has announced the hiring of former Nephila Capital executive Chris Parish who will join the company as its new Market Innovation Leader.

The Lower Ferry Re Ltd. (Series 2023-1) catastrophe bond issuance has now been priced to provide sponsor NJM Insurance with $190 million of named storm reinsurance protection from the capital markets, some way short of its top size target for the deal.

Slide Insurance Company is targeting lower pricing for its second catastrophe bond, with the guidance lowered for its new Purple Re Ltd. (Series 2023-2) transaction.

Here are the ten most popular news articles, week ending June 25th 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Numerous insurance-linked securities (ILS) fund strategies have delivered decadal high returns, at least, so far in 2023, as the higher reinsurance rate environment and elevated spreads for instruments like catastrophe bonds boost their performance.

CatX, a digital catastrophe and parametric risk exchange start-up, has been accepted into the prestigious Y Combinator accelerator program to help it build out its capabilities and scale the developing business model.

Stone Ridge Holdings Group, the holding entity for alternative asset manager with a reinsurance focus Stone Ridge Asset Management and its Longtail Re casualty reinsurance investment focused entity, has appointed former New York Life Chairman and CEO Ted Mathas as a Senior Advisor.

US specialty insurance group Assurant has secured more catastrophe reinsurance protection for the year ahead at the mid-year renewal, with $1.28 billion of limit available for the United States, despite the fact its retentions have risen.

As the United States continued to experience outbreaks of severe convective storms (SCS), large hail and some tornadoes in recent days, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re said the total cost to the insurance industry from this peril has likely surpassed $25 billion year-to-date.

Lemonade, Inc., the high-profile insurtech, has successfully renewed its reinsurance program for the year ahead, keeping its quota share cession flat this time at 55%, but seeking efficiencies elsewhere by adding both Cayman and Bermuda based captive reinsurance structures.