Insurance Linked Investments

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, has increased its activities with third-party investors in 2023, ceding 17% more in reinsurance premiums to them, than it had in the prior year.

In reporting its full-year 2023 results, Markel Group has highlighted higher insurance-linked securities (ILS) revenues from the managed ILS funds of its Nephila Capital unit, while program premiums ceded to Nephila reinsurance structures have soared.

Insurance giant AIG made good on its promise to invest into some of the third-party capital backed reinsurance joint-venture vehicles operated by RenaissanceRe at the start of 2024, with a $350 million deployment to two structures.

The narrowing of catastrophe bond spreads in recent months and into early 2024 is reflective of the strong investor demand for this segment of insurance-linked securities (ILS), interest which may continue to build as the fading interest rate environment is expected to increase the relative appeal of ILS again, analysts at BofA Securities said.

Catastrophe bonds and insurance-linked securities (ILS) newly listed on the Bermuda Stock Exchange (BSX) in 2023 soared by 195, taking the total value of all ILS securities listed on the exchange to a new high of $59.15 billion.

While disagreements over a consolidated approach to liquidating the Vesttoo bankruptcy estate, versus a more segregated approach that makes assets available to the cedents involved in certain reinsurance deals, continues, the Official Committee of Unsecured Creditors have now accused Chaucer of “lying in wait” before launching efforts to secure value for itself.

RenaissanceRe, the Bermuda based reinsurance and third-party capital management specialist, has successfully added almost $495 million in new third-party capital across some of its joint-venture and insurance-linked securities (ILS) structures in time for January 1st 2024.

The successful issuance of the first full cyber catastrophe bonds in late 2023 was a watershed moment and the role of risk models in helping insurance-linked securities investors get up to speed on what is still a relatively new peril to the ILS sector was key, executives at Moody’s RMS told us in an Artemis […]

Insurtech Vesttoo, the company at the heart of a scandal over fraudulent reinsurance letters of credit (LOC), has called for its ongoing US Chapter 11 bankruptcy case to be dismissed and for insolvency proceedings to be commenced in Israel in its place.

Jireh Connect, a technology platform that targets helping brokers place risk more efficiently with reinsurance and risk capital providers and manage the process more effectively, has announced the completion of its first placement, an industry loss warranty (ILW).