Insurance Linked Investments

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Aggregation uncertainty over UK BI ruling and reinsurance losses: Fitch

The recent ruling from the UK Supreme Court, that found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals, is not expected to drive significant additional losses through to reinsurance, Fitch Ratings has said. While some reinsurance panels will definitely be affected, read the full article →

RenRe returned some capital to Upsilon investors at 1/1: CEO O’Donnell

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, held true to its forecast and returned some capital from its Upsilon collateralized reinsurance and retrocession vehicle to investors around the renewals, underwriting a slightly smaller portfolio for the vehicle as a result. RenaissanceRe's (RenRe) CEO Kevin O'Donnell revealed this during read the full article →

AXIS falls to loss, third-party capital fee income slides further

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, has reported a net loss for the fourth-quarter and full-year 2020, as improved underlying accident year combined ratios couldn't offset significant catastrophe and COVID-19 losses. AXIS Capital reported a net loss of $5 million and operating loss of $16 million for Q4 read the full article →

CATCo retro fund rises 7% on reduced 2017 wildfire claims (subrogation?)

Some shareholders in the CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, have benefited from a reduction in claims related to California's 2017 wildfires, perhaps suggesting a subrogation recovery has made its way through to the portfolio. The in-run off retrocessional reinsurance focused investment fund's read the full article →

ILS fund manager Gildenbrook launched with $850m of capital by Brookman

The Gildenbrook Group has been founded by experienced ILS industry executive Daniel Brookman and has today launched Gildenbrook Capital Management Ltd., an independent alternative investment fund manager focused on the insurance-linked securities (ILS) asset class. Brookman most recently led alternative reinsurance and ILS activities at re/insurer AXA XL, before which he read the full article →

W. R. Berkley cites two investors behind Lifson Re reinsurance sidecar

In launching its first collateralized reinsurance sidecar vehicle and engaging with third-party investors on the recently announced Lifson Re Ltd. launch transaction, Rob Berkley – President and CEO of W. R. Berkley noted the importance of a "shared sense of obligation and duty to capital." Insurance holding company W. R. Berkley read the full article →

RenRe added $730m+ to third-party capital vehicles at 1/1

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has revealed that it raised an additional over $730 million of capital for third-party managed joint ventures and insurance-linked securities (ILS) vehicles at January 1st 2020. The company said this is on top of a healthy $1 billion of capital raised read the full article →

ILS cedents need to restore investors’ trust: Halm, CCR Re

It's down to insurance-linked securities (ILS) cedents and sponsors to work to restore trust in the ILS investor community, by increasing transparency, reducing uncertainty and building long term partnerships, according to Mathieu Halm, Head of Retrocession and Strategy at CCR Re. Halm recently discussed the challenging year that the insurance-linked securities read the full article →

ILS capacity can support nuclear third-party liability risks: EC study

A European Commission study looking at the insurability of nuclear third-party liability risks (NTPL) and availability of capacity to support them, found that insurance-linked securities (ILS) market capital would be available, under the right structures and terms. The European Commission study on nuclear third-party liability risks was undertaken during 2018-19 and read the full article →

SCOR Investment Partners gets ILS allocation from City of Zurich pension

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, won a new investment mandate from the roughly $20 billion City of Zurich Pension Fund in recent weeks. The City of Zurich Pension Fund is one of the largest in Switzerland and operates pensions and other insurance benefits read the full article →