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Munich Re has now completed the placement of the second listed tranche of its Eden Re II Ltd. collateralized reinsurance sidecar for 2024, which lifts the reinsurers capital market investor-backed retrocessional protection from the structure to $150 million for this year.

While the lack of significant US wind loss events in 2023 has helped to moderate the outcome for many property catastrophe reinsurance renewals at 1/1, US reinsurance towers that had seen losses over the course of the year have experienced rate-on-line increases of up to 50%, broker Gallagher Re said today.

Global reinsurance giant Munich Re has returned to the capital markets to refresh its retrocessional protection from the Eden Re II Ltd. collateralized reinsurance sidecar for 2024, with the first tranche of notes to come to light being $28.5 million of Series 2024-1 Class A notes.

PCS, a unit of Verisk, has announced an expansion of its insurance industry loss index for terrorism risks, with SRCC (Strikes, Riots, Civil Commotions, and Civil Unrest) now being added to the PCS Global Terror Index.

Conduit Re, the Bermuda headquartered global reinsurance company that launched for the 2021 underwriting year, said today there are signals that further risk-adjusted rate improvements could be ahead, at the upcoming January renewals.

This video features the final session of the day at our Artemis ILS Asia 2023 conference held in Singapore on July 13th 2023, a panel discussion with experienced insurance-linked securities (ILS) investment managers on the state of the market, in Asia Pacific and globally, as well as giving their ILS outlook.

Asset manager Schroders Capital has given additional responsibility to its head of insurance-linked securities (ILS), with Stephan Ruoff now also becoming Co-Head of a newly formed Private Debt and Credit Alternatives (PDCA) business unit at the company.

The insurance, reinsurance and insurance-linked securities (ILS) market is not hard, at least not in the traditional sense of the phrase hard market, but it has experienced a generational shift, with the cost of reinsurance capital structurally reset at higher levels, according to speakers at the recent Convergence event in Bermuda.

Analysts at S&P Global Ratings explained in Monte Carlo this week that the reinsurance industry remains in a hard market, especially in property catastrophe lines of business, with the balance of power sitting with reinsurers and more demand for protection expected to come, providing new opportunities.

Speaking today in Monte Carlo at the annual reinsurance market Rendez-Vous de Septembre event, Thomas Blunck, a Member of the Board of Management at global reinsurer Munich Re, said he does not expect major capital inflows to either the traditional or alternative sides of the market.