Integral ILS Ltd., the start-up Bermuda based insurance-linked securities fund manager run by well-known industry execs Richard Lowther and Lixin Zeng, has registered its special purpose insurer (SPI) underwriting vehicle.
The subject of how a second wave of the Covid-19 pandemic would be treated under reinsurance contracts came up during insurance giant Allianz’s earnings call this week and the companies CFO said that he’d expect it to be classed as a second loss event.
RKH Reinsurance Brokers (RKHRB), part of the global Hyperion Insurance Group and the dedicated reinsurance arm of RKH Specialty, has named Steve Warwick as its new Head of Treaty Reinsurance APAC and added two more significant hires, also from RFIB, as it looks to expand in the Asia Pacific region.
Everest Re, the global insurance and reinsurance firm, managed to add some assets under management to its Mt. Logan Re Ltd. collateralised reinsurance sidecar-like vehicle during the second-quarter of 2020, executives explained yesterday.
Australian primary insurance group IAG has revealed that its Orchard ILS Pte Ltd catastrophe bond was triggered and then fully exhausted by claims suffered from the severe bushfire season in the country.
Hurricane Isaias, which impacted the Caribbean, made landfall in the Bahamas, then raked the Florida coast, after which it made landfall in the Carolinas and went on to impact the U.S. northeast including New York, is expected to cause insured losses of more than $1 billion.
Global insurance and reinsurance group SiriusPoint will be formed after Third Point Re and Sirius Group reached agreement to combine in a cash and stock transaction.
This weeks devastating explosion in the port area of Beirut, the capital of Lebanon, is expected to cost the country as much as US $15 billion, according to an early estimate by officials.
The 2020 Atlantic tropical storm and hurricane season is now forecast to have an 85% chance of “above-normal” levels of activity by NOAA, as the agency lifted its forecast for the season to call for an “extremely active” few months ahead.
RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has raised capital across numerous platforms over the last year, but the company always ensures investors have a “right of incumbency” on the deals they are already on, according to its CEO.
AXA XL, the commercially focused insurance and reinsurance arm of the global AXA Group, has suffered a loss for the first-half of the year, as losses from the Covid-19 pandemic hit its commercial books of business.
UK insurance group Aviva has revealed that its gross losses from the Covid-19 pandemic rose to around US $580 million for the first-half of the year, but the company expects its reinsurance panel will take roughly 63% of the costs of its hands.