Archive for August, 2023

For the global reinsurance industry, the stakes are particularly high this wind season, as the occurrence and landfall of any hurricanes that caused significant losses could propel rates even higher, while a “super-clean” wind season could lead to softening in 2024, analysts at Berenberg have said.

This first video of the day at our Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, featured the Monetary Authority of Singapore (MAS) giving a welcome keynote speech to our 200 plus attendees.

Bermuda-based specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager, Pillar Capital Management Limited, has no intentions of changing its strategy as steady growth in assets under management (AuM) continues.

Despite having for some months been expected to face a total loss of its $300 million of principal and already being marked down for an expected full loss on secondary market trading sheets, Allstate’s Sanders Re II 2019-1 catastrophe bond has had its maturity date further extended for another three years, while the recovery is […]

With pricing for retrocessional reinsurance having soared over the last couple of years and global reinsurance firms reducing their appetites for natural catastrophe risk, S&P Global Ratings believes this could drive a reduction in the use of retro protection.

Alternative capital, so that backing catastrophe bonds, insurance-linked securities (ILS) and other collateralized reinsurance structures, is set to make up a bigger proportion of dedicated reinsurance capital, according to Howden Tiger’s David Flandro.

The proposed acquisition of GAM Holding AG, parent company to GAM Investments and home to one of the largest catastrophe bond fund strategies, by specialist fund management group Liontrust has failed to win the necessary investor support, with the GAM Board now turning to discussions with the rival investor group NewGAMe.

The alternative capital market in reinsurance is primed for growth through the rest of 2023, with favourable conditions expected, according to rating agency Fitch.

Rating agency DBRS Morningstar has estimated that the ongoing wildfires in Canada will drive insurance market losses of up to $1.5 billion in the third-quarter of the year.

RLI Corporation, a traditional insurance and reinsurance specialist, has estimated that its pre-tax and net of reinsurance catastrophe losses from wildfires in Hawaii will total between $65 million and $75 million.