Archive for August, 2023

The latest in the Vesttoo bankruptcy case, is that the insurtech’s lawyers have engaged with counsel for Aon’s White Rock Insurance (SAC) Ltd. and the Joint Provisional Liquidators for the White Rock cells that are subject to Bermuda court action, coming to an agreement for an order that would enforce an automatic stay on an […]

Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused company, has completed a significant new secondary trade of casualty ILS premiums totalling $250 million and said that it is seeing growing institutional investor interest.

According to analysts at Bloomberg Intelligence, the insurance and reinsurance industry looks to be on-track to suffer over $100 billion of insured weather losses again in 2023.

The importance of the Fermat Capital Management catastrophe bond funds to global asset manager GAM Investments has become abundantly clear, with disclosures related to the GAM Holding acquisition by Liontrust suggesting Fermat is responsible for as much as 21% of the assets and revenues of the firm.

Reinsurance giant Munich Re has stretched its lead at the top of the AM Best ranking of the world’s largest reinsurers and while there was not much change at the top of the table, there are signs some may slide down it due to a growing aversion to property catastrophe risks.

The insurance market could face losses of up to the region of ~$4 billion from the recent devastating wildfires that struck the Hawaiian island of Maui, according to catastrophe risk modelling specialist Moody’s RMS.

Vermeer Reinsurance Ltd., the joint-venture and rated underwriting vehicle that RenaissanceRe manages on behalf of Netherlands-based pension investor PGGM and its end-client the Dutch pension PFZW, had a strong second-quarter, with almost $52.2 million of net income attributable to the backers of the company.

Clear Blue Insurance Group is the first external organisation that has signed up to appear in the Chapter 11 bankruptcy case of beleaguered insurtech Vesttoo, as the fronting specialist looks to protect its rights as a possible creditor.

Aspen Capital Markets, the third-party and alternative reinsurance capital management unit of global re/insurer Aspen, is benefiting from the increased assets under management (AUM) the unit had raised last year, with its fee income for the first-half rising by roughly 30%.

Analysts at J.P. Morgan are of the view that it doesn’t matter whether the Atlantic hurricane season proves impactful, or not, the resolve of the reinsurance community when it comes to pricing and terms is strong, with softening only expected to be slight even if the season results in below-normal losses.