Archive for June, 2024

Northern Reinsurance SPC, Ltd. (Northern Re), the Cayman Islands based collateralized reinsurance company that provides an opportunity for investors to source returns from its long-tail casualty underwriting business, has announced an asset management partnership with Jaffa Capital Management.

NormanMax Insurance Holdings, the US based parametric insurance and reinsurance group launched by former Universal founder and CEO Bradley Meier, has begun offering a parametric retrocession product that is underwritten via its recently launched Lloyd’s syndicate.

CatX, a digital catastrophe and parametric risk exchange start-up, has announced that James Robinson, a Bermuda-based technology expert who previously worked in data science at re/insurer Hamilton, has been appointed to the CatX Bermuda board.

SCOR, the France-headquartered global reinsurance company, continues to build out its risk partnership and third-party capital capabilities, with the latest hire to come to light being Tony Nguyen, an experienced insurance-linked securities (ILS) structuring and investment banking executive who joins the reinsurer from Goldman Sachs.

Hannover Re, the German global reinsurance company, has now successfully upsized its latest retro catastrophe bond, securing $140 million of retrocessional cover from the 3264 Re Ltd. (Series 2024-1) issuance.

Everest Re has has now settled for $200 million in multi-peril per-occurrence retrocessional reinsurance from its new Kilimanjaro II Re Ltd. (Series 2024-1) catastrophe bond, securing that coverage at reduced pricing as the spreads settled well-below guidance, Artemis has learned.

Groupama, the French mutual insurance and reinsurance company, is back in the 144A catastrophe bond market for the first time since 2013, seeking €150 million in windstorm reinsurance protection from the capital markets through a Quercus Re DAC 2024-1 catastrophe bond issuance, Artemis has learned.

Hudson Structured Capital Management Ltd. (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has hired experienced alternative investment and capital markets executive Katherine Park as its new Head of Capital Formation and Investor Relations.

Broking group Gallagher has filed a motion to dismiss the Vesttoo transaction related lawsuit brought against its reinsurance arm Gallagher Re by Porch Group, the owner of insurer Homeowners of America Insurance Company (HOA), saying that “the claim falls well short of the plausibility threshold.”

This video features the final insurance-linked securities (ILS) expert panel of the day at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024.