Insurance Linked Investments

News on the growing market in insurance and reinsurance linked investments, covering insurance-linked securities (ILS) such as catastrophe bonds and collateralized reinsurance, with a particular focus on the ILS fund market.

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Loss reserving leads to mixed ILS fund performance in October

Insurance-linked securities (ILS) funds reported a wide range of performance in October 2021, as despite a quiet month for catastrophe losses, previous cat events drove loss reserve adjustments across the market. Overall in October, private insurance-linked securities (ILS) funds, that invest in collateralised reinsurance and retrocession, actually outperformed catastrophe bond funds read the full article →

Apollo / Athene target $60bn of premium float with ACRA sidecar

Investor and private equity specialist Apollo Global Management and its life and retirement reinsurance company Athene expect the Athene Co-Invest Reinsurance Affiliate (ACRA) third-party capitalised sidecar vehicle could drive around $60 billion of premium float, from its initial capital pool of $3.2 billion. The Athene Co-Invest Reinsurance Affiliate (ACRA) third-party capital read the full article →

Gallagher Re has opportunity to accelerate ILS sales: James Kent & Pat Gallagher

With the completion of its acquisition of the treaty reinsurance business of Willis Towers Watson, Arthur J. Gallagher and its reinsurance unit Gallagher Re has an opportunity to accelerate sales of insurance-linked securities (ILS), its senior executives told Artemis. Speaking in an interview with Artemis just after the acquisition of Willis read the full article →

Catastrophe bonds break annual record at $11.1bn already in 2021

Catastrophe bond issuance in 2021 has continued to accelerate and with the completion of the latest transaction, the total amount of risk capital issued in pure, Rule 144a syndicated property cat bond transactions has reached $11.1 billion, now surpassing the previous annual record set last year. With one month left to read the full article →

RenRe Capital Partners hires Sompo’s Varwandkar as cat bond PM

RenaissanceRe Capital Partners has made another key hire, adding Manjit Varwandkar as a Portfolio Manager for the firm's catastrophe bond investments focused Medici Fund strategy. The third-party capital management and insurance-linked securities (ILS) unit of Bermuda-headquartered reinsurance firm RenaissanceRe (RenRe) has been expanding its team of specialists in recent months, with read the full article →

UK publishes legislation to exempt ILS from Stamp Duty taxes

The UK Government’s HM Revenue & Customs (HMRC) has now published draft legislation through which it aims to exempt insurance-linked securities (ILS) issuance and reinsurance transformer vehicle issued notes from any Stamp Duty taxes, to help encourage ILS activity in the United Kingdom. Earlier this year, in March, the UK Government read the full article →

ILS “particularly suitable for reducing tail risks” for investors: BAI

Despite the fact insurance-linked securities (ILS) themselves have the tail-risk of major global natural catastrophe events firmly embedded in the asset class, as part of a broader alternatives allocation ILS are "particularly suitable for reducing tail risks" in investor portfolios, according to the BAI. The German association for alternative investments, the read the full article →

Some ILS funds set for third & fourth consecutive negative month

Some insurance-linked securities (ILS) funds have reported their third and in some cases have, or are set to report a fourth negative month of returns in a row, as greater clarity over the magnitude of losses from the European flooding and hurricane Ida continues to emerge. According to our ILS market read the full article →

Vida Capital adds Ainsberg as new MD Chief of Staff

Vida Capital, Inc., the alternative investment manager with a life settlement and insurance-linked securities (ILS) focus, has announced the hiring of Zachary Ainsberg, who joins the firm as Managing Director, Chief of Staff. Ainsberg will be based in New York and report directly to recently installed President and Chief Executive Officer read the full article →

Horseshoe hires EY’s Ben Wright in Bermuda

Horseshoe, the Artex-owned Bermuda-headquartered insurance or reinsurance management, fund administration and insurance-linked securities (ILS) specialist, has hired Ben Wright as a Senior Vice President, Insurance Management. Wright joins the company after working at Ernst & Young (EY) in Bermuda for more than a decade, where he gained asset management, insurance-linked securities read the full article →