Experienced insurance-linked securities (ILS) and catastrophe bond focused capital markets attorney Matthew S. Feig has rejoined the New York Capital Markets group at global law firm Cadwalader, Wickersham & Taft LLP.
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Entropics Asset Management AB, the first insurance-linked securities (ILS) and catastrophe bond fund manager in Sweden, has expanded into Finland, by hiring a representative to help with marketing the cat bond fund to institutional investors in the country.
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The rise of alternative reinsurance capital has seen it transform from a disruptive market force to being used by the majority of global re/insurers in some form, but the more traditional, experienced players will still deal with the more complex, complicated risk layers, according to industry experts.
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Exposures in the casualty insurance and reinsurance sector are inherently difficult to predict and model, meaning until a market transformation occurs the casualty space is likely the biggest threat to the re/insurance industry, according to Wills Re’s Andrew Newman.
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City Financial Investment Company, a UK headquartered independent asset manager which operates a range of traditional and alternative multi-strategy funds, has increased its holdings in the retrocession focused exchange-listed CATCo Reinsurance Opportunities Fund Ltd.
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Reinsurance broker Aon Benfield’s risk modelling unit Impact Forecasting believes that the “epic weekend rainfall” in South Carolina and elsewhere across the region will result in economic losses that will “easily exceed” $1 billion.
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According to sources the first catastrophe bond from passenger railway company Amtrak has increased in size, with the PennUnion Re Ltd. (Series 2015-1) parametric cat bond looking set to complete later this week at $275m, up 38% from its initial marketed size.
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Club Vita LLP, an initiative launched in 2008 by Hymans Robertson LLP to help pension plans better measure and manage their longevity, is expanding into Canada as longevity exposure has become the biggest unmanaged threat to defined benefit (DB) pension plans in the country.
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The completion and settlement of passenger rail company Amtrak’s first catastrophe bond, PennUnion Re Ltd. (Series 2015-1), has been delayed due to the uncertainty surrounding the forecast for recent hurricane Joaquin.
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Seasonality helped the insurance-linked securities (ILS) market bounce back to deliver a much more impressive months performance in August, with the average ILS fund return across a group of 34 ILS, reinsurance linked and catastrophe bond funds recorded as 0.84%.
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The uncertainty surrounding hurricane Joaquin and whether it would make a U.S. east coast landfall stimulated some offers, discussions and interest in ‘live cat’ protection buying last week, according to market sources.
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Specialty products in the U.S. property & casualty insurance marketplace is an increasingly attractive area of the market, as it offers an “attractive strategic alternative to achieving scale in the standard commercial property/casualty (P/C) insurance industry,” according to S&P.
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Here are the ten most popular news articles, week ending 4th October 2015, 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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The Start Network, an international network of non-governmental humanitarian organisations, has committed to developing prototype use-cases for parametric insurance and catastrophe bonds as solutions to provide funding in response to humanitarian crises.
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