Insurance Linked Investments

The Florida Retirement System Pension Plan counted over $912 million of insurance-linked securities (ILS) and related assets under management as of the end of 2022, with the institutional investor continuing to expand the diversification within its insurance and reinsurance investments, thanks to longevity-linked life asset growth.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has become the latest company to establish a collateralized insurer class of company in Bermuda, named Arbol Re Ltd.

Reflecting the elevated spreads of catastrophe bonds, after just a few months of this year the return of the Swiss Re catastrophe bond index, perhaps the most widely used benchmark in the insurance-linked securities (ILS) space, is already at its highest level since 2013.

Acrisure Re, the reinsurance broking unit of the Acrisure group, has hired former Railway Pension Investments Limited (RPMI Railpen) employee James Turner as a Vice President within its Corporate Advisory & Solutions unit, Artemis has learned.

The third session of the day at our Artemis ILS NYC 2023 conference, held in New York on February 10th 2023, saw industry leaders discussing the Florida insurance and reinsurance market, exploring the state of play and how it come overcome some of the challenges that are faced.

Lumen Re, the main reinsurance underwriting vehicle of LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager LGT Capital Partners, has seen its loss ratio reduce significantly, according to rating agency AM Best.

Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance underwriting platform backed by London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital Partners LLP, has been writing more open market risks to target the hard reinsurance rates that are available.

Bernina Re Ltd., the Bermuda based reinsurance underwriting and transformer vehicle backed by capital from funds managed by Credit Suisse Insurance Linked Strategies Ltd., has delivered an underwriting profit of $8.9 million for 2022 at a 75.4% combined ratio.

Artemis is 24 years old today. On the 12th of May 1999, Artemis was formally launched to an audience of reinsurance and capital market executives at an event held in Bermuda.

Artemis has learned that Chris Caponigro, the Global Head of AXIS ILS, the third party capital unit of Bermuda-based insurer and reinsurer AXIS Capital, is to depart the company this June.