Insurance Linked Investments

Porch Group, a software driven financial services group with a homeowners insurance arm, continues to proactively strengthen its business to recover from exposure to the Vesttoo-linked letter of credit (LOC) collateral fraud that affected certain reinsurance deals its Homeowners of America Insurance Company (HOA) subsidiary had entered into.

Nascent Group, the insurance management and reinsurance transformer company launched by industry stalwart Andre Perez that aims to reimagine the insurance-linked securities (ILS) servicing space, has agreed its first acquisition with Bermuda Compliance Consultants Ltd.

Asset manager Amundi US continued to grow its more recently launched Pioneer Cat Bond Fund strategy in the last quarter of record, with catastrophe bonds seemingly remaining the easiest strategy to raise money for, as its more reinsurance focused Pioneer ILS Interval Fund shrank a little further, albeit at a much slower rate than before.

Speaking with Artemis in a recent interview, Christian Mumenthaler, the CEO of global reinsurer Swiss Re explained that he believes in the insurance-linked securities (ILS) system and sees this alternative form of reinsurance capital as occupying a critical position in the marketplace.

The judge in Vesttoo’s Chapter 11 bankruptcy case has called for all sides to “stop litigating and start cooperating” to find a common ground on key issues that have been holding back progress at a hearing yesterday.

Catastrophe bonds offer investors a “positive outlier” in the world of alternative investments for 2024, according to global asset manager Columbia Threadneedle.

Insured losses from severe convective storms (SCS) in the United States have continued to escalate through the third-quarter of the year, with the annual total for 2023 now reaching a record $50 billion, the first time this peril has ever caused this level of loss for the industry, Gallagher Re’s Steve Bowen has explained.

Demand for cyber insurance and reinsurance is expected to continue to grow in the years ahead, but with carriers seemingly at the maximum of what cyber risk they can assume, transferring some of it to the capital markets will be crucial to achieve exponential growth, according to industry experts.

The Ambassador catastrophe bond mutual fund strategy has now surpassed the $100 million in assets under management (AUM) level needed to be recognised as a qualified institutional buyer (QIB), with further capital raised and allocated to new catastrophe bond positions in the last quarter of record.

Markel CATCo Investment Management, the retrocessional reinsurance specialist investment manager arm of Markel, is still running-off its portfolio of risk and in the last quarter of record managed to recover additional value as favourable development of its side pocket loss reserves continued.