Insurance Linked Investments

The Lloyd’s insurance and reinsurance market has put out a call for a coordinated effort to enhance the disaster resilience of developing and developed economies, by bringing together the re/insurance sector with investors and governments to create new financial solutions.

During the second-quarter, AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, ceded more than half of its catastrophe book to its third-party capital partners, according to the firms CEO Albert Benchimol.

Lancashire Capital Management Limited, the third-party capital collateralised reinsurance underwriting arm of specialty insurance and reinsurance group Lancashire Holdings, has raised capital around the mid-year at a similar level to the prior year.

Global insurance and reinsurance company Everest Re has reported a strong second-quarter of results, with its reinsurance book expanding almost 40% on a gross premium basis, but with catastrophe losses a little ahead of the prior year.

Broker Aon has reset its Executive Committee following the collapse of its acquisition of rival insurance and reinsurance broker Willis Towers Watson (WTW).

The Red Cross, working alongside insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy Replexus Group, is developing a solution to promote nature-based solutions to disaster risk, financed partly through the use of catastrophe bonds, as well as other humanitarian and development scenarios.

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, has reported an increase to its fee income from third-party reinsurance capital management business during the second-quarter and for the first-half of this year.

Specialty insurance and reinsurance group Lancashire Holdings has expanded its property and casualty reinsurance book by 73% in the first-half of the year, while income earned from its third-party capital and collateralised reinsurance  activities rose by 122% in the period.

PartnerRe, the Bermuda headquartered, EXOR owned reinsurance company, has continued to add to its third-party capital under management in the last quarter, lifting the total to $1.1 billion.

The U.S. Federal Emergency Management Agency (FEMA) is planning to sponsor another FloodSmart Re catastrophe bond to provide flood reinsurance to the National Flood Insurance Program (NFIP) and is seeking proposals from potential reinsurance transformer partners.