There is growing optimism in the insurance-linked securities (ILS) market over the potential for subrogation claims against ERCOT related to February 2021 winter storm and Texas freeze losses to reduce exposure to the event, according to AM Best.

TigerRisk, the broking group and reinsurance and risk capital advisor, has hired Mitchell Rosenberg from Aon Securities as a Partner and Managing Director in its investment banking division, TigerRisk Capital Markets & Advisory (TCMA).

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance business, has partnered with Singapore based insurer Singlife with Aviva to provide it a parametric rainfall insurance product for travellers.

Bermuda headquartered global reinsurance firm RenaissanceRe continued to expand its underwriting in the second-quarter of the year, which provided it an opportunity to share more risk with some of its third-party capital partners.

Gallagher Re, the global reinsurance broker, has made a new senior appointment in its capital markets and insurance-linked securities (ILS) unit, Gallagher Securities, hiring Alexandre Delacroix from Natixis for an EMEA focused capital markets and ILS role.

Catastrophe-exposed property insurance managing general underwriter (MGU) SageSure has announced the hiring of former AQR Re CEO John Lummis as the firms new Executive Vice President of Capital and Risk Management.

Mortgage insurance companies operating in the United States are in a far better financial position now thanks to heavy use of reinsurance, including their issuance of mortgage insurance-linked securities (ILS), or mortgage insurance-linked notes (ILN), Moody’s Investors Service has said.

In a new report, rating agency Fitch states that climate change is stimulating the development of the catastrophe bond market, as demand for protection rises and the capital markets offers an efficient source of reinsurance against climate-linked catastrophe events.

Insurance-linked securities (ILS) focused insurtech company Vesttoo has hired its first Head of Underwriting, selecting a respected executive from its local market in Israel to fill the role.

Reinsurance companies in the Asia Pacific region can leverage insurance-linked securities (ILS) and alternative capital to capture hardening market opportunities and become more competitive with their global peers, rating agency AM Best has advised.

Terry Ledbetter and Luke Ledbetter, formerly of fronting and program service insurance specialist State National Companies, are back with a new venture, having launched Kestrel Group as a program specialist with a focus on bringing greater efficiency to the insurance and reinsurance market value chain.

The insurance and reinsurance industry loss from the severe flooding that struck eastern regions of Australia in February and March 2022 continues to creep higher, with the Insurance Council now pegging the total at AU $5.28 billion.