More Bermuda reinsurers have Florida collateral requirements lowered


We wrote back in September about the announcement from Hannover Re that the Florida state insurance regulator had lowered the collateral requirement which was required of Hannover Re to allow them to participate in the Florida market. Now that change is widening to more reinsurers.

Three more Bermudian reinsurers have had their collateral requirements lowered considerably and will know find providing re/insurance services within the Florida market a lot more cost effective.

Ace Tempest Reinsurance Ltd., Hiscox Insurance Company (Bermuda) Ltd., and Partner Re Ltd. will all be allowed to post lower collateral requirements while participating in the Florida market.

Florida says these new collateral terms won’t be extended to everyone, only to highly rated, financially sound foreign reinsurers.

We have to suppose that Florida is seeking to attract more reinsurance capacity to Florida to take on their massive catastrophe risks at a time when their cat fund and U.S. re/insurers are having difficulty providing that capacity alone.

Artemis catastrophe bond ILS DashboardAnalyse catastrophe bond market issuance using the Artemis Dashboard and Charts.

We’ve tracked more than 650 cat bonds and related ILS transactions since 1996, all of which are included in our extensive Deal Directory.

Use the Artemis Dashboard and our Cat Bond Market Charts to analyse this market!

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
Counterparty risk a key securitization exposure, says S&P

Standard & Poor's has issued a report which reiterates that one of the key exposures in a securitization transaction (that...