International law firm Appleby’s Bermuda office acted on more than two-thirds of the island’s insurance-linked securities (ILS) transactions during 2015, including traditional catastrophe bonds and a significant volume of collateralised reinsurance deals.
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After constant declines in commercial P&C rates through the final months of last year 2016 has seen the trend continue, with MarketScout reporting average declines across the U.S. commercial P&C sector of 4% in January.
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U.S. military mutual insurer USAA has returned to the catastrophe bond market with a new issuance vehicle and different approach, as it seeks a source of broad multi-year and peril reinsurance protection from the capital markets through an Espada Reinsurance Limited (Series 2016-1) transaction.
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Private insurance-linked securities (ILS) transactions have flourished in recent times, underlined by the consistent growth of the collateralized reinsurance and cat bond lite sub-sectors, where investors can access higher yields, according to Twelve Capital.
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Here are the ten most popular news articles, week ending 7th February 2016, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.
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One of the key elements of any catastrophe bond trigger needs to be a transparent, rapid and fair payout process. This is especially true for parametric of index triggers, where a third-party may be reporting data on which decisions over losses are made.
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The $100m of still outstanding catastrophe bond notes from the loss-facing MultiCat Mexico Ltd. (Series 2012-1) Class C cat bond deal have been priced by brokers back at around the 50 cents on the dollar mark, reflecting the increasing likelihood that the tranche only faces a 50% default.
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Bermuda domiciled reinsurance firm and third-party or ILS capital manager RenaissanceRe (RenRe) significantly pulled back by 40% on assumed retrocession during the fourth quarter of 2015, and also shrank its Upsilon Fund.
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The South Carolina Retirement System Investment Commission will look to add an allocation to the insurance and reinsurance linked (ILS) asset class as it makes significant changes to its portfolio mix and targets more complex and diversifying investments.
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The efficient capacity and capital market structures of the insurance-linked securities (ILS) market have the potential to benefit the entire insurance value chain, from end consumer through to investor, according to Deloitte.
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After a number of renewals where the world’s insurance companies have been carefully managing their retentions, increasing them in many cases, there are signs and reasons to be more cheerful as reinsurance capital is once again rising up the agenda.
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The insurance and perhaps reinsurance industry loss due to UK flood damage caused by storms Eva & Frank in December and other low pressure systems in January, is estimated to have cost the industry £526 million ($770m or €685m), according to PERILS AG.
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Blue Capital Reinsurance Holdings Ltd. (BCRH), the New York stock exchange listed collateralized reinsurer, has reported an impressive 11.4% total return for 2015, based on book value per share growth inclusive of dividends.
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The U.S. National Hurricane Center (NHC) has finally delivered its final tropical cyclone report for hurricane Patricia, putting the minimum central pressure of the storm at 932mb at landfall on the Mexican coast, suggesting the MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes face at least a 50% loss.
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