Insurance Linked Investments

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Cat bond & related ILS risk capital outstanding hits $40bn for first time

The outstanding market for catastrophe bonds and related insurance-linked securities (ILS) has grown significantly in 2019 so far, passing $40 billion for the first time according to our data, as interest in mortgage ILS offset slower natural catastrophe bond issuance.It's a milestone worth celebrating for the insurance-linked securities (ILS) market, read the full article →

ILS is insulation for adverse mortgage insurance losses: NMI CEO Merkle

Mortgage insurance specialist NMI Holdings, Inc. successfully completed its third and largest insurance-linked securities (ILS) transaction, the $327 million Oaktown Re III Ltd., and CEO Claudia Merkle highlighted how these capital market backed reinsurance transactions insulate it against adverse losses.NMI returned recently to secure $327 million of excess of loss read the full article →

AXIS Capital lifts third-party capital assets managed to $2.1 billion

Bermuda headquartered insurance and reinsurance firm AXIS Capital Holdings Limited has lifted the amount of third-party capital assets under its management to a new high at $2.1 billion.AXIS Capital’s third-party capital management business has continued to steadily build, with the insurance and reinsurance firm using an increasing amount of quota read the full article →

Cobbs Allen combines investment bank & insurance broker in CAC Specialty

Independent U.S. risk management and insurance broker Cobbs Allen has launched a new unit focused on bringing together investment banking and insurance to create risk transfer solutions for corporates and private equity sponsors.The specialty broking unit CAC Specialty represents the "next wave in the long-term convergence of insurance and capital read the full article →

ILS to be integral to mortgage insurers’ risk transfer: Capsicum Re’s Mathews

The type of growth witnessed in mortgage insurance-linked securities (ILS) transactions in 2018 is most likely to be replaced with a more normalised growth rate, with ILS capacity expected to become an integral part of mortgage insurers’ programmes, according to Capsicum Re’s Stephen Mathews.Since the first two Bellemeade Re transactions read the full article →

Jebi shows ILW triggers are better when official & supported

The rising insurance and reinsurance industry loss from 2018's typhoon Jebi in Japan has caused what some are privately terming chaos in the industry-loss warranty (ILW) market, as two widely used but unofficial trigger data sources still show estimates at below $10 billion.Industry loss warranties (ILW's) are relatively simple risk read the full article →

North Yorkshire Pension Fund increased ILS allocation to Leadenhall

The North Yorkshire Pension Fund, a pension scheme for council and local government workers in the Yorkshire region of the United Kingdom, increased its allocation to insurance-linked securities (ILS) funds under the management of Leadenhall.Having originally won a mandate from the pension fund for an £80 million allocation in 2018, read the full article →

CATCo 2019 deals show 6% H1 return, but new side pockets needed

Despite the fact it is set for run-off it is interesting to note that the 2019 portfolio underwritten for the CATCo Reinsurance Opportunities Fund has delivered a 6% net asset value return in the first-half of the year to one class of shareholders.The CATCo Reinsurance Opportunities Fund is being wound read the full article →

Arch acquiring tech & third-party capital focused MGU Ventus

Arch Insurance North America, a division of insurance and reinsurance specialist Arch Capital Group, has announced that it will acquire the technology and third-party capital focused managing general underwriter Ventus Risk Management.Regular readers will be familiar with Ventus Risk Management, a company focused on sourcing and underwriting property catastrophe and read the full article →

Leadenhall’s Adolph moves to Bermuda. Flood hired in London

Leadenhall Capital Partners LLP, the London headquartered insurance and reinsurance linked investment manager, said that its Managing Partner and Non-Life Portfolio Manager Ben Adolph is to move to the firm's Bermuda office.At the same time, ILS fund manager Leadenhall said that it has made a new hire in London, to read the full article →