Insurance Linked Investments

Youssef Sfaif, a Director of Credit and Insurance Linked Investments at significant insurance-linked securities (ILS) sector pension investor PGGM, is departing from the allocator to join an in-house ILS platform owned by a major reinsurer, Artemis has learned.

With the CATCo retrocessional reinsurance investment funds buyout now completed, owner Markel and the remaining former-Markel CATCo team can concentrate on running-off the remainder of the portfolio, a process that could continue into 2023.

Specialty insurance and reinsurance group Lancashire Holdings continued to grow strongly during the first-quarter of 2022, adding almost 35% in gross premiums written and also revealing a lower than anticipated ultimate net loss exposure to the ongoing conflict in Ukraine.

Bermuda headquartered insurance and reinsurance firm AXIS Capital lowered its catastrophe premiums written considerably in the first-quarter of 2022, as rumours of a sale of the reinsurance division have emerged.

Global insurance and reinsurance firm Everest Re continues to take steps to reduce its exposure to property catastrophe related volatility, with its writings of catastrophe excess-of-loss reinsurance business falling to just 16% of its first-quarter book.

The steady, positive returns delivered by insurance-linked securities (ILS) during times of broader financial market downturns, shows that the asset class offers reliable and consistent diversification potential for investors, according to PIMCO.

Assets under management at Markel’s flagship insurance-linked securities (ILS) operation Nephila Capital declined slightly during the first-quarter of 2022, ending the period at $8.6 billion.

After Markel Corporation sold off the managing general agent (MGA) platforms created and owned by its flagship insurance-linked securities (ILS) investment manager Nephila Capital, it’s now become clear the combined value of the MGA’s was around $384 million.

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark.

Rating agency AM Best has maintained its outlook for the London insurance and reinsurance market at Stable, with improving access to third-party capital one of the key drivers.