Posts by Luke Gallin, Author at Artemis.bm - Page 5 of 48

Ruby Re, Reinsurance Group of America’s (RGA) third-party life reinsurance sidecar, has now raised a total of $480 million in capital following the close of its second funding round, which is near the upper limit of the $400 million to $500 million target range for the Missouri-domiciled vehicle.

Welcome to Artemis’ 2024 Monte Carlo Rendezvous Executive Roundtable, in which nine expert speakers from across the insurance-linked securities (ILS) space discussed the sustainability of current market conditions and returns, investor sentiment, potential growth areas, and more.

Insurance and reinsurance broking group Gallagher, through its captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary, Artex, has expanded its services in the Middle East & Africa (MEA) region with the launch of alternative risk management services in the Abu Dhabi Global Market.

The insurance industry loss from hurricane Milton in the US from wind, storm surge, and inland flooding has been estimated at close to $36 billion by Karen Clark & Company (KCC), although this excludes insured damage to boats, offshore properties, and losses to the National Flood Insurance Program (NFIP).

Hurricane Helene made landfall last night away from more densely populated areas of Florida, in the Big Bend region, but despite extensive damage and significant storm surge, initial industry estimates suggest losses to per-occurrence catastrophe bonds seem unlikely at this time, according to Zurich-headquartered insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager, Twelve Capital.

Essent Guaranty, a wholly owned subsidiary of Essent Group, has successfully closed Radnor Re 2024-1 Ltd., the firm’s tenth issuance of mortgage insurance-linked notes, which upsized and eventually completed at $363.4 million.

Ledger Investing, the insurtech and casualty insurance-linked securities (ILS) company, has funded and launched a new $100 million casualty sidecar for a global reinsurer, financing the company’s casualty reinsurance business over three underwriting years on a quota share basis.

Auckland, New Zealand-headquartered insurer Tower Insurance made some adjustments to its reinsurance programme at its renewal, opting to increase the size of the upper catastrophe limit and raise the attachment point for the first two events, resulting in a lower reinsurance spend for the firm. Tower’s FY25 reinsurance programme provides the carrier with protection for […]

Currently, there are attractive returns in all segments of the insurance-linked securities (ILS) universe, and while conditions are expected to remain favourable amid increased demand for protection, there’s still opportunities to innovate and bring more product and capital to market, according to industry executives. At the 66th Rendez-Vous de Septembre (RVS) in Monaco last week, […]

Large US primary insurer Allstate has reported estimated catastrophe losses of $306 million for the month of August, with $75 million, or approximately 25% related to a hail event in Calgary, Canada. Allstate has revealed that the Calgary hail estimate includes reinsurance reinstatement premiums and is net of anticipated reinsurance recoveries of $225 million. At […]