Insurance Linked Investments

An update to the Bermuda Monetary Authority’s (BMA) guidance notes on special purpose insurers (SPI’s), the most commonly used structure for transacting insurance-linked securities (ILS) and collateralised reinsurance, lays out the regulators position on key issues related to collateral rollover, release of collateral and also the subject of clawback.

Nephila Capital, the largest dedicated specialist insurance and reinsurance linked investment fund manager, is to appoint an active underwriter for its new specialty lines focused Syndicate 2358 at Lloyd’s.

U.S. primary insurance carrier Travelers has confirmed that its estimated $400 million PG&E subrogation related recovery will inure to the benefit of its reinsurance panel.

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has continued to expand its market facilities business line which includes its third-party capital backed beta-like market tracking structures.

Even in the face of Covid-19, the resilience of the insurance-linked securities (ILS) market has been impressive, but moving forward, the entire risk transfer industry needs to be more attentive to emerging complex risks, says Benny Chey, Assistant Managing Director (Development and International), Monetary Authority of Singapore (MAS).

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced the departure of Partner Simon Fascione who will leave the firm on September 30th.

Hudson Structured Capital Management Ltd., undertaking its insurance and reinsurance investment business as HSCM Bermuda, has co-led a $24 million Series A investment round for home and auto insurtech firm Branch.

The past few months have provided unprecedented challenges for all areas of the global financial markets, but for insurance-linked securities (ILS) players, the ongoing desire for un-correlated assets presents a great opportunity, according to industry experts.

The Alturas Re Ltd. collateralised reinsurance sidecar vehicle of global specialist re/insurer AXIS Capital has completed a new issuance of 3,628 preferred shares, meaning options for third-party investors to access the returns of AXIS’ underwriting business seemingly expand.

The alternative, or third-party reinsurance capital market, has permanently altered the structure of reinsurers and will continue to do so moving forward, according to Dr. Morton Lane, President, Lane Financial LLC, and Director, The University of Illinois in Urbana-Champaign.