Reinsurance broker Capsicum Re, a unit of Arthur J. Gallagher & Co., has announced a new Executive Committee (ExCo) leadership as the company seeks to deliver on further growth.
The Monetary Authority of Singapore (MAS) has extended its insurance-linked securities (ILS) grant scheme to the end of 2022, as Singapore looks to build on recent positive momentum and attract more catastrophe bond issuers to its shores.
The target size for the first catastrophe bond transaction to be sponsored by Convex Group has been increased, with sources now saying that the Hypatia Ltd. (Series 2020-1) multi-peril retro transaction is likely to double to $300 million, we can reveal.
The current hardening cycle in the reinsurance market is expected to last until the end of 2021 by analysts at Jefferies, who also say the broad-based firming is now being seen in almost all lines of business globally.
Equity analysts at investment bank Credit Suisse said yesterday that they are anticipating the U.S. catastrophe loss burden for the insurance and reinsurance industry in the second-quarter of 2020 will be around 25% above the 10-year average.
As expected, U.S. focused mortgage insurer Essent Guaranty has reported that all of its mortgage insurance-linked securities (ILS) transactions outstanding are now subject to a trigger event, after the Covid-19 pandemic drove delinquency rates much higher.
Hurricane forecasts for the 2020 Atlantic tropical storm season have been elevated again to reflect the rapid start to the year in terms of storms already formed, while in addition there remains an above-normal landfall probability for the months ahead, forecasters note.
QOMPLX, an insurtech provider of intelligent decision platforms and operator of managing general agency’s (MGA), has launched US-based subsidiary MGA units named RubiQon Risk & Insurance Services and RubiQon Re, which will be led by sector veterans Conan Ward and Romel Salam.
Private equity and buyout giant KKR & Co. L.P. (or Kohlberg Kravis Roberts) has again demonstrated its appetite for insurance-linked returns by announcing it is to acquire life and retirement focused insurance and reinsurance firm Global Atlantic Financial Group.
We understand that Head of Transaction Management Jutta Kath is to retire early from her position at Schroder Secquaero, the specialist insurance-linked securities (ILS) manager and part of global asset manager Schroders.
While commercial and personal property insurance rates rose broadly in the second-quarter of 2020, it is the catastrophe exposed regions and segments of the business that are rising fastest, according to MarketScout.
At the July 1st reinsurance renewals rates were seen to improve by as much as 20% according to Hyperion X, a little behind the average 26.2% rate improvements seen by the company at the June 1st renewals.