We now have some more details on the latest catastrophe bond to come to market which sees sponsor State Farm seeking a new source of earthquake reinsurance protection from the capital markets via a cat bond issuance. It’s the fourth time that State Farm has gone to the cat bond market for cover directly, although […]
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Interesting news today as an announcement comes from broker Aon saying that they have signed an agreement with Warren Buffett’s reinsurance giant Berkshire Hathaway which will see the two firms team up to bring sidecar style capacity to retail customers of the broker at Lloyd’s. The first sidecar of its kind in the industry this […]
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Insurance and reinsurance group Lancashire Holdings has already found a replacement hire to head up its newly created third-party capital management brand Lancashire Capital Management after its previous head, Simon Fascione, recently resigned. Lancashire announced this morning that Darren Redhead, previously of hedge fund reinsurer D.E. Shaw Re, has been appointed as Head of Lancashire Capital […]
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The lack of primary catastrophe bond issuance, combined with continued high demand in the cat bond asset class from investors, has led to some unseasonal price movements on outstanding cat bonds in the secondary market recently. With investment managers loaded with cash from new and continuing inflows to the ILS and reinsurance-linked asset class from […]
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Specialist insurance and reinsurance underwriting group Amlin aims to capitalise on the interest that third-party capital from sources such as pension funds has been showing in the catastrophe reinsurance market as it seeks to enhance its return potential. In the insurance and reinsurance groups latest preliminary results report, Chief Executive of Amlin Charles Philipps said […]
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Hurricane Sandy is almost in the past for one of the London listed insurance-linked securities investment funds. The DCG Iris ILS fund, operated by investment manager Dexion Capital, has converted its C Share class back into Ordinary Shares and has listed the new Ordinary Shares back on the London Stock Exchange.
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A new risk modeling tool which allows users to run scenarios and generate loss estimates against a range of specific historical or hypothetical catastrophe events has been launched today by Impact Forecasting, the catastrophe model development center at reinsurance broker Aon Benfield. The tool will allow users to run scenarios to analyse the potential financial […]
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Last week the Securities Industry and Financial Markets Association (SIFMA) held its annual Insurance-and-Risk-Linked Securities (IRLS) conference in New York. The annual event is one of the only conferences purely focused on the so-called convergence areas of reinsurance, covering ILS, catastrophe bonds, collateralized reinsurance instruments such as sidecars, alternative reinsurance capital and reinsurance-linked investments.
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Global law firm Hogan Lovells assisted French reinsurer SCOR on its recent life reinsurance transaction. Hogan Lovells acted as an advisor to SCOR on the deal which saw SCOR Global Life Reinsurance Ireland plc, an Irish subsidiary of SCOR Global Life SE, enter into a life reinsurance transaction with leading Spanish life insurance company, BBVA […]
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The primary issuance catastrophe bond market came to life last week with two new transactions launching in Tar Heel Re Ltd. and Merna Re IV Ltd. both of which encouragingly come from repeat sponsors. As always, you can read every market news story and article on the Artemis news blog, subscribe to our weekly email […]
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U.S. insurer Nationwide Mutual’s latest catastrophe bond, Caelus Re 2013 Ltd., has now completed successfully, received its final rating from Standard & Poor’s and the notes and five-year shelf programme have been admitted for listing on the Cayman Islands Stock Exchange. It’s only the third cat bond or ILS deal we’ve seen complete and have added […]
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The Florida Senate Banking and Insurance Committee showed that the state Legislature is determined to improve the way hurricane risk is priced, managed, insured, reinsured and transferred within the state today by voting 11 to 1 to pass Bill SPB 7018 which contains a number of measures to reform the Florida insurance market, downsize Florida […]
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Pension funds continued and growing interest in deploying capital into alternative structures in the insurance and reinsurance space brings with it a risk that it could change the rate environment for what some other investors may see as the worse. An analysts report from Meyer Shields of Keefe, Bruyette and Woods discusses this issue and warns […]
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A bill will be heard today by the Florida Senate Banking and Insurance Committee which proposes a capital markets risk transfer facility which would pool risks from the states primary insurers and issue catastrophe bonds or other insurance-linked security (ILS) structures to transfer the risks to the capital markets. The proposal, SPB 7018, contains a […]
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