Investment management group Schroders continues to see strong inflows into its UCITS catastrophe bond fund strategy, which has forced the firm to actively manage the capacity of the fund and may result in its closure to new investors.
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The recently announced plans of Bermuda-based insurance and reinsurance group Arch Capital and investment management firm Highbridge Capital to launch a third-party capital backed venture named Watford Re are an interesting take on the trend.
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We now have further information and pricing details on the latest catastrophe bond to hit the market, the $95m Riverfront Re Ltd. (Series 2014-1) from first time cat bond sponsor U.S. property casualty insurer Great American Insurance Group.
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Credit rating agency Standard & Poor’s said it believes that 2014 will see a similar level of catastrophe bond issuance to the volume seen in 2013, with favourable ILS pricing set to drive 2014 cat bond issuance.
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The UK insurance industry is facing losses of £1.1 billion from this winters severe weather which saw strong European windstorms and heavy rainfall cause widespread damage and trigger devastating floods across the UK according to the ABI.
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The insurance-linked securities investments team at global asset manager AXA Investment Managers is adding two new hires, has grown its ILS assets under management to circa $500m and is set to launch a third insurance linked investment fund.
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GC Securities, the capital markets and investment banking arm of reinsurance broker Guy Carpenter, cites the ‘tremendous support’ that investors showed for reinsurer Munich Re’s latest catastrophe bond transaction, Queen Street IX Re Limited.
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A Towers Watson survey of property & casualty (P&C) insurance chief financial officers (CFO’s) shows they attribute the softening property reinsurance market to the growth of insurance-linked securities and other alternative forms of reinsurance capital.
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It’s always informative to read what the leading rating agencies have to say about the continuing convergence of reinsurance and the capital markets. Standard & Poor’s provides some of its thoughts on alternative reinsurance capital in a recent publication.
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Florida-headquartered U.S. insurance group American Strategic Insurance is pleased with the successful completion of its first catastrophe bond, the $200m Gator Re Ltd., and looks forward to developing its relationship with insurance linked investors.
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A new catastrophe bond transaction named Riverfront Re Ltd. (Series 2014-1) has been launched to the ILS investment market on behalf of first time cat bond sponsor, U.S. property and casualty insurer Great American Insurance Group.
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The April 1st reinsurance renewals are approaching rapidly and this year it is expected that the key Asia-Pacific region renewals will provide a demonstration of the expanding reach and influence of alternative reinsurance capital and insurance linked securities.
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Hannover Re, one of the world’s leading reinsurance firms, reports its results this morning in which Chairman Ulrich Wallin acknowledges the increasingly fierce competition which was a hallmark of the non-life reinsurance market in 2013.
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London-based insurance-linked securities and reinsurance-linked investments manager Securis Investment Partners will open offices in Bermuda and Australia this year as it positions itself for a new phase of growth, the firm told Artemis.
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