Yesterday Artemis held its fourth annual insurance-linked securities (ILS) conference in Singapore. ILS Asia 2019 saw 180 attendees from across the globe converge on the country, to hear insightful discussions on the state of ILS in Asia.
Global reinsurance firm SCOR is set to receive an almost $26 million payout after its aggregated losses from the 2017 hurricanes Harvey, Irma and Maria triggered its $150 million Atlas IX Capital Limited (Series 2015-1) catastrophe bond.
The U.S. Internal Revenue Service and Department of the Treasury has published a new set of proposed regulations relating to passive foreign investment companies (PFICs), which are relevant to many in insurance and reinsurance, but have particular relevance to certain ILS and hedge fund reinsurer strategies it seems.
Aon has announced the promotion and appointment of Tim Ronda to President of the firms U.S. Reinsurance Solutions business, with George deMenocal remaining in the CEO role of the broking unit.
Universal Insurance Holdings, the Florida headquartered and expansive primary insurance player, has announced that its CEO Sean P. Downes is stepping into an Executive Chairman role, with his position to be filled by Chief Operating Officer, Stephen J. Donaghy.
Insurance and reinsurance group Hiscox has issued a trading update to warn of a hit to first-half profit due to a $40 million strengthening of its typhoon Jebi, hurricane Michael and risk excess book reserves.
Law firm Carey Olsen Bermuda has promoted insurance-linked securities (ILS) specialist lawyer Gavin Woods to Partner at the firm.
Tropical storm Barry has now formed in the Gulf of Mexico, the second named storm of the 2019 Atlantic hurricane season, and is forecast to bring long-duration, torrential rainfall and could intensify into a hurricane Barry by landfall.
Bermudian reinsurance firm RenaissanceRe has promoted Matthew Neuber to the position of Corporate Treasurer, taking on the role from Aditya Dutt who remains the lead on RenRe’s Ventures business (which includes much of the firms ILS activities), as well as corporate development and M&A.
Arcus Syndicate 1856 at Lloyd’s, which is backed by third-party funds under the management of the Credit Suisse insurance and reinsurance linked investment strategies team, has named Alex Shepherd as the new active underwriter for the syndicate.
At the recent mid-year reinsurance renewals, insurance-linked securities (ILS) funds were seen to have become increasingly discerning, as they adopted a more differentiated approach to how they underwrote their portfolios.
At the end of the first-quarter of 2019, the amount of insurance-linked securities (ILS) and collateralized reinsurance collateral still trapped by recent catastrophe loss activity amounted to roughly $15 billion, according to broker Aon.
