US commercial property insurance pricing accelerated in the fourth-quarter of 2022, with the challenging and hardening reinsurance market environment a key driver, according to broker Marsh.
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Global reinsurer Swiss Re has announced a significant restructuring of its reinsurance division, splitting it into property and casualty and life and health reinsurance, a move that also separates the responsibilities of its recently departed Group Chief Underwriting Officer.
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Nephila Capital, the flagship insurance-linked securities (ILS) fund management operation owned by Markel Corporation, has experienced another 8% decline in assets under management during the fourth-quarter of 2022, with the total falling to $7.2 billion.
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The leadership at RenaissanceRe, the global reinsurance firm and third-party capital manager, expects fee income from the Capital Partners and related insurance-linked securities (ILS) capital management business will trend higher this year, as the unit’s scale and AuM increases.
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Speed to market is a key characteristic of Bermuda’s ILS market, but when setting up your ILS vehicle, it is also important to consider what happens at the end of its economic life, says Louise Charleson, Partner, Ocorian Law (Bermuda) Limited.
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Slide Insurance, the full-stack homeowners property insurtech founded by former Heritage CEO Bruce Lucas, will significantly grow its Florida market footprint, having acquired the renewal rights to over 91,400 Florida homeowners policies from UPC Insurance.
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Property catastrophe reinsurance rates-on-line in the United States have reached a record-high, according to the latest data from broker Guy Carpenter.
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Citizens Property Insurance Corporation, the property insurer of last resort for the Florida marketplace, has appointed its General Counsel and Chief Legal Officer Tim Cerio as its new President and CEO, as long-standing leader Barry Gilway retired yesterday.
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The Philippines will be the beneficiary of a $600 million funding from the World Bank to help enhance its financial sector, with the ongoing development of its catastrophe insurance marketplace a key target.
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With the key January reinsurance renewals having been challenging and characterised by reduced capacity and higher pricing, the focus can often turn to buying hedges such as industry-loss warranties (ILW’s), but a new study highlights some issues investors should be aware of.
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Oxbridge Re Ltd., a Cayman Islands based reinsurance firm, has launched an initiative through which it aims to sponsor the issuance of digital or tokenized reinsurance securities, that will be used to raise capital and support collateralized contracts underwritten via its sidecar, Oxbridge Re NS.
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Global reinsurance firm Hannover Re has increased its net major loss budget for 2023 to EUR 1.725 billion, citing growth in its P&C reinsurance book and an “increased loss expectation from natural catastrophes” as the drivers.
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RenaissanceRe, the global reinsurance firm and third-party capital manager,raised an additional almost $403 million of capital from third-party investors in time for the January 2023 renewal season, with the vehicles benefiting being its DaVinci Re sidecar and its catastrophe bond fund Medici.
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As we move into 2023, the cyber insurance linked securities (ILS) market is expected to see real traction, as demand for capacity continues to outstrip supply, while data and models are improving, according to Brittany Baker, Vice President of Solution Consulting, CyberCube.
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