The market and media were awash with rumours about investment bank Goldman Sachs planning to sell a majority stake in its reinsurance interests yesterday, rumours which were then confirmed by Goldman Sachs itself in its Q4 earnings call later in the day. Net revenue from Goldman Sachs Reinsurance Group was $1.08 billion in 2012, $317m […]
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A new report published today by risk modeller AIR Worldwide suggests that insurers and reinsurers should be prepared to face insured catastrophe losses of the magnitude seen during 2011 every 15 years. Insured losses from global natural catastrophes exceeded $110 billion in 2011 which AIR said is a 6.7% exceedance probability, so a near 7% […]
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Swiss based investment manager Twelve Capital, which operates a number of funds and investment opportunities in insurance-linked securities, catastrophe bonds, private ILS, reinsurance-linked contracts and subordinated insurance bonds, has published an update today disclosing that it now manages over $1 billion of insurance-linked assets. Twelve experienced impressive growth during 2012 and doubled its workforce to […]
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Both the primary and secondary catastrophe bond markets were subdued in December as the markets participants continued to assess the fall-out and industry losses that hurricane Sandy had caused. Many insurers and reinsurers had been forced to put their planning and purchasing of U.S. hurricane reinsurance and retrocession on hold and this is thought to […]
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The catastrophe bond and insurance-linked security market delivered investors the third highest annual return of the last decade, according to date from ILS, cat bond and reinsurance consultancy Lane Financial LLC. In a report published recently which looks at statistics from the cat bond market in the fourth quarter of 2012, data shows that 2012 ranked […]
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The first fund launched by Bermudian reinsurer Montpelier Re’s investment management subsidiary Blue Capital Management has provided an update on their progress after the January renewals. The Blue Capital Global Reinsurance Fund which launched and listed on the London and Bermuda stock exchanges on the 6th December last year has successfully deployed 58% of the capital raised […]
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Reinsurance broker Guy Carpenter has added to its capital markets and insurance-linked securities team, bolstering its secondary catastrophe bond and ILS trading capabilities, with a new hire made towards the end of last year. Sung Yim, an ex-Goldman Sachs and secondary cat bond and ILS trading specialist, joined GC Securities as its first person dedicated […]
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The final quarter of 2012 saw the average rate-on-line of insurance-linked security and catastrophe bond deals rise a little after having seen declines through much of the year, according to the latest quarterly ILS market update from ILS, cat bond and reinsurance consultancy Lane Financial LLC. This could have been an effect of hurricane Sandy […]
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Reinsurance broker Aon Benfield has published a report which delivers a timely reminder to the insurance and reinsurance industry that the potential losses from a major space weather event could cause massive economic and insured losses and the re/insurance industry needs to consider its preparation and response. Solar storm and geomagnetic activity is forecast to […]
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Another reinsurer is taking its first step into the third-party capital asset management arena by launching a vehicle dedicated to attracting investors capital to put it to use underwriting collateralized reinsurance business. Bermuda based Everest Re Group Ltd. announced the formation and launch of Bermuda domiciled special purpose reinsurer Mt. Logan Re, Ltd. with $250m […]
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The year has started with a number of launches of new and renewed third-party capital reinsurance vehicles. We’ve also seen the first new ILS deal begin marketing in the guise of Vitality Re IV Ltd. (Series 2013-1) from Aetna. As always, you can read every market news story and article on the Artemis news blog, subscribe […]
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More people movements in the market as Kane, the largest global independent insurance manager in the world and one of the leading providers of insurance-linked securities (ILS) and life, pensions and investment (LPI) administration services, announced today two senior appointments one of which is a new managing director for their U.S. division.
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Here’s a piece of news that we didn’t hear about in 2012, the two Cumulus Funds which were owned and operated by investment firm PCE Investors in London, have been bought and ownership transferred to London-based investment firm City Financial Investment Company back in October. The funds offer investors a weather risk investment opportunity, with […]
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Insurance, reinsurance and financial services group Allied World Assurance Company Holdings, AG has announced another deal which enhances its abilities across its investment and third-party capital management platform, Allied World Financial Services. It have signed an investment agreement which sees it acquire a minority stake in asset manager Crescent Capital Group LP and as part of […]
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