Reinsurance broker Gallagher Re has hired Scott Fest from insurance carrier FedNat, who joins the company to have a focus on broking treaty business for south east US insurance carrier clients.
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With another Special Session of the Florida legislative set for later this month, Governor of the state Ron DeSantis has been outspoken on two key issues, one being reinsurance capital supply, the other the insurer of last resort Florida Citizens.
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US primary insurance carrier Allstate has now settled for $100 million of catastrophe reinsurance protection from its latest cat bond, as the Sanders Re III Ltd. (Series 2022-3) issuance has failed to upsize, while the notes were priced at the elevated price level, roughly 14% above the mid-point of guidance.
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Insurance-linked securities (ILS) and catastrophe bond funds gained 0.97% in the month of October 2022, as some ILS funds rebounded somewhat after hurricane Ian, as losses from the storm appeared lower than expected for some cedents.
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Global insurance and reinsurance company Everest Re ceded less in the way of premiums written to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the third-quarter and first nine months of 2022, likely reflecting lower available capital under management.
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Independent specialty insurance program manager K2 Insurance Services, the parent and service provider to MGA’s K2 CAT and K2 Parametric, has announced that it is being acquired by global growth investor Warburg Pincus.
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American Family Mutual Insurance Company, or AmFam as it is abbreviated, has returned to the catastrophe bond market for the third year running, looking to add another $100 million or more to its capital market backed catastrophe reinsurance, through a new Four Lakes Re Ltd. (Series 2022-1) multi-peril cat bond issuance.
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Reask, a provider of catastrophe modelling, climate analytics and data that leverages machine learning techniques and artificial intelligence, has hired nat cat risk modelling expert David Schmid to lead its parametric insurance product offering.
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According to reinsurance firm Swiss Re, global insured natural catastrophe losses have reached $115 billion in 2022, year-to-date, with hurricane Ian the main contributor at an estimated $50 billion to $65 billion.
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Securis Investment Partners has launched the fourth vintage of its long-standing life insurance-linked securities (ILS) funds, with close to $300 million of capital backing this vintage.
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Global reinsurance giant Munich Re still believes that hurricane Ian is set to drive roughly $100 billion in economic losses, with approximately $60 billion insured, excluding the NFIP’s losses.
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According to a report yesterday from Bloomberg, the main investor backers of insurance and reinsurance broking group BMS are considering a sale of the company, with a US $720 million price tag (UK £600m) cited, but we’re told it’s more likely the company is looking to build out its capital base to fund future growth, […]
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Higher-risk focused insurance-linked securities (ILS) fund strategies appear to be averaging losses around the 17% mark after hurricane Ian, according to a report from Frontier Advisors.
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Climate variability is expected to drive US hurricane landfall risk premia higher, resulting in an increasing demand for insurance-linked securities (ILS) capital, according to a new paper from Twelve Capital and Reask.
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