Speculative investors have been buying some of the at risk $100m Class C tranche of the MultiCat Mexico Ltd. (Series 2012-1) catastrophe bond at very low prices, likely hoping that the event report reveals that hurricane Patricia only caused a 50% loss of principal, which could allow them to profit.
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The last decade has been pivotal for the global reinsurance industry, resulting in a complete reshaping of it as reinsurers take different approaches to adapting to the new marketplace reality. However opportunities exist, such as supporting global sustainable development goals.
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Catastrophe modelling firm JBA Risk Management, has highlighted the potential for significant increases in flood exposures across the Asia-Pacific by the year 2020, further cementing the need for increased reinsurance and insurance-linked securities (ILS) participation in the region.
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Premier Diversified Holdings Inc. (PDH) has now completed its newest investment in Sequant Re Holdings Limited, the parent to Bermudian ILS and collateralised reinsurance investments company Sequant Re.
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Albert Benchimol, the President and Chief Executive Officer (CEO) of insurer and reinsurer Axis Capital, has said that in reinsurance a minimal amount of scale is required, while the benefits of a hybrid model as well as the ability to access third-party capital are important too.
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Global catastrophe events during October are expected to incur economic losses of more than $10 billion, as historic flooding inundated South Carolina, typhoons impacted Asia and the record-breaking hurricane Patricia made landfall in Mexico, according to Aon Benfield.
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Current reinsurance market conditions underlined by excess capacity, a benign loss environment and fierce competition, has seen buyers in the Asia-Pacific region benefit from favourable pricing, according to reinsurance specialist Guy Carpenter (GC).
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The share of profits and fee income that specialty insurance and reinsurance company Lancashire Holdings earned from its third-party reinsurance capital unit Kinesis Capital Management grew again in the latest quarter.
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Insurance, reinsurance and financial services group Markel Corporation has demonstrated its commitment to one of the funds operated by reinsurance investment and fund manager CATCo by making an allocation to it.
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German reinsurance firm Hannover Re has entered into a longevity reinsurance transaction with Pension Insurance Corporation (PIC) simultaneously with the completion of the largest ever full pension insurance buyout between PIC and the Philips UK Pension Fund.
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S&P has downgraded the rating of the $100m Class C tranche of the MultiCat Mexico Ltd. (Series 2012-1) catastrophe bond, on the expectation that unless there is a significant change to the reported minimum central pressure figures for hurricane Patricia, “a default appears to be inevitable.”
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White Mountains has purchased industry loss warranties (ILW’s) as a way to protect the balance sheet of its Sirius International Insurance Group, Ltd. unit, as it awaits the completion of Sirius’ sale to Chinese investment group China Minsheng Investment Corp., Ltd.
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Increasing your attractiveness to third-party capital investors has become a key driver for mergers and acquisitions in reinsurance, as access to efficient capital becomes increasingly important for reinsurers, according to A.M. Best.
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The global financial market investment volatility that has hit hedge fund reinsurance firms returns in recent months have translated into a loss for the third-quarter at Bermuda-headquartered Third Point Re.
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