Bermuda’s mature, sophisticated regulatory environment has aided its development into a world-leading hub for reinsurance and insurance-linked securities (ILS) business, and according to Appleby’s Brad Adderley, change in regulation has enhanced business opportunities, not diminished them.
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As expected the investment performance of Watford Re, the investment-oriented, hedge fund partnered, hybrid strategy reinsurance joint venture vehicle between Arch and Highbridge, was negatively affected by financial market volatility in the fourth-quarter of 2015.
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Pricing pressure is the main and ongoing threat for the London insurance and reinsurance market, according to Fitch Ratings, with continued declines expected across both catastrophe and non-catastrophe lines of business.
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Insurance and reinsurance group XL Catlin and Ventus Risk Management, a recently formed Managing General Underwriter, are partnering to bring commercial property insurance to small and mid-sized enterprises with backing from collateralized reinsurance funds.
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Florida headquartered Heritage is back with a new catastrophe bond transaction, Citrus Re Ltd. (Series 2016-1), seeking $250m of reinsurance from the capital markets for its Heritage Property & Casualty Insurance and Zephyr Insurance Company subsidiaries.
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Asset manager Schroders has expanded its reach in the insurance and reinsurance linked investments (ILS) space to enable it to directly target U.S. and Canadian investors by launching a new Cayman Islands domiciled fund vehicle.
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Severe winter weather has resulted in over $4 billion of economic losses around the globe in January 2016, with at least $2 billion resulting from the severe winter storm that impacted the U.S. northeast, according to Aon.
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Catastrophe bond and ILS investment fund manager Entropics Asset Management AB, has become a member of the Swedish Sustainable Investment Forum (Swesif), underlining its commitment to “sustainable and responsible” cat bond investments that benefit society.
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It is now official, investors in the $100m tranche of MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes are facing a 50% loss of principal after calculation agent AIR Worldwide delivered its final report on the matter.
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Distributions from its relationship with reinsurance linked investment and insurance linked securities (ILS) manager Aeolus Capital Management Ltd. have again bulked up Allied World’s operating cash flow, but the re/insurer is set to reduce its commitment to the partnership in 2016.
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Kiskadee Investment Managers, the insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit of Hiscox Re, has more than doubled its assets under management during 2015 to near $850m of ILS assets managed at the January renewals.
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French reinsurance firm SCOR reported its January 2016 renewal results this morning, citing its ability to “dampen” the competitive pressures from ILS and alternative capital, enabling it to achieve “quasi-stable” profits in a difficult market.
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Greater transparency throughout the insurance-linked securities (ILS) and reinsurance linked investments sector could result in a broader investor base, drive further growth and enhance the asset classes’ reach, according to Deloitte.
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Reinsurer Hannover Re increased the size of its K-Cession quota share reinsurance and whole account excess of loss transactions for 2016 by $150m, reflecting the availability of attractively priced capital for retrocession.
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