Blue Capital Management, the insurance-linked securities (ILS) and collateralized reinsurance investment manager of the Blue Capital Global Reinsurance Fund, witnessed moderating conditions at the key June renewal, with prices down only 4% across its renewal portfolio.
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The growing acceptance, understanding and demand for smaller catastrophe bond issues and privately placed transactions during the first-half of 2015 has already broken all previous records, with just over $537 million of privately cat bonds completed year-to-date.
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Activist investor Sandell Asset Management has again come forwards to criticise the board of reinsurance firm PartnerRe, saying that it believes the board has been deliberately keeping the firms shareholders uninformed.
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Fitch Ratings has affirmed two insurance-linked securities (ILS) transactions from Luxembourg-based life and annuity focused insurer ATLANTICLUX Lebensversicherung S.A., the SQ ReVita value-in-force (ViF) life securitisation and the Salam III Sukuk (Islamic bond).
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Reinsurance broker Guy Carpenter is in agreement with its peers, that at the July 1st renewal price declines were seen to moderate, although it notes that this moderation has been predominantly on U.S. wind exposed programs.
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While the insurance and reinsurance market is engrossed in a search for relevance, scale and diversity of underwriting platform, the resulting M&A activity may present an “upside risk” which could bolster P&C re/insurance shares, despite the clear headwinds, according to Goldman Sachs.
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Some industry experts and leading insurance or reinsurance firms attribute the sector’s dependency on governments as a sign it’s failing, but Stephen Catlin feels the support of the state is vital if we are to adequately protect against major, extreme events and new risks.
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Economic losses suffered during June from the monsoon season in China led to the largest impact of the month, with almost $4 billion of impact to the Chinese economy, according to Aon Benfield’s Impact Forecasting unit.
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MarketScout’s latest Insurance Market Barometer signals that U.S. commercial property and casualty (P&C) insurance rates remained flat in June, following the trend witnessed in the previous three months of the year.
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A firmer insurance-linked securities (ILS) market is ahead as discipline helps to slow price declines, while at the same time innovation in the ILS and catastrophe bond market continues apace, according to Twelve Capital.
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Analysts in the insurance and reinsurance space gave EXOR’s improved offer for the shares of reinsurance firm PartnerRe the thumbs up, with some going so far as to suggest that AXIS Capital needs to at least match it, if its merger deal is to survive.
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As insurers and reinsurers continue to navigate the softening reinsurance market, RBC Capital Markets (RBC) predicts that European players will increasingly look to emerging market opportunities for business.
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PERILS AG has lowered its insurance industry loss estimate for January 2015’s European windstorms Elon-Felix from the last report of €335m down to a reduced €328m, which is back to where the first estimate for this storm was reported.
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In a move which has been anticipated Italian investment holding company EXOR S.p.A. says it is enhancing the terms of its binding offer for reinsurance firm PartnerRe, in order to make the deal even more attractive to PartnerRe Common and Preferred Shareholders.
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