Despite the fact the initial risk interest spread offered for Fidelis’ new Herbie Re Ltd. (Series 2022-1) catastrophe bond had been raised roughly 30% above the initial mid-point of price guidance, the targeted size has been reduced somewhat in the final stage of marketing the deal, Artemis is told.
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Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has made another key hire, bringing experienced London and European insurance and reinsurance market exec Anthony Southern onboard as its Director of Insurance Markets UK & Europe.
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Inigo, the London headquartered specialty insurance and reinsurance underwriter with a Lloyd’s syndicate, has returned to the catastrophe bond market for its second issuance, seeking $100 million or more in aggregate retro reinsurance protection from this Montoya Re Ltd. (Series 2022-2) deal.
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RenaissanceRe’s collateralized reinsurance and retrocession investment fund vehicle Upsilon has returned just over $254 million of trapped capital to its investors across the first nine months of this year.
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Independent investment manager AUM Asset Management Ltd. has entered the insurance-linked securities (ILS) fund space, with its first offering being the ILS Ocean Fund, a strategy that invests into Barbados domiciled captive re/insurer, Ocean Re.
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Global reinsurance firm Swiss Re is anticipating a return to growth for the global insurance and reinsurance industry in 2023, having seen inflation causing total global insurance premiums to contract by an estimated 0.2% in real terms in 2022.
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Reinsurance giant Swiss Re has appointed long-standing insurance-linked securities (ILS) focused senior executive Jean-Louis Monnier as the CEO of its US broker-dealer arm, Swiss Re Capital Markets Corporation.
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Florida’s property insurer of last resort Citizens Property Insurance Corporation has provided a modelled estimate of its ultimate losses from recent hurricane Nicole, pegging the total at just $62.5 million.
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Catastrophe risk modelling firm RMS has estimated that the private insurance and reinsurance market loss from recent hurricane Nicole will fall below $2 billion, with its best estimate being for a $1.6 billion industry loss.
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As the renewal season negotiations get underway, quota share focused ILS investment manager Tangency Capital feels well-positioned and believes the capital it provides is core to reinsurers, so more important than ever in current market conditions.
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The seventh session at our Artemis London 2022 conference featured a panel of experts speaking about the future evolution of the catastrophe bond, potential niche use-cases for the cat bond structure, and more generally how catastrophe bond and insurance-linked securities (ILS) activity can expand its remit.
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Right now, with only weeks left until the renewals and New Year begins, analysts at J.P. Morgan say they don’t believe there is any reinsurance “Class of 2023” forming on the horizon.
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WTW has designed a parametric trigger for a responsive tropical cyclone insurance arrangement that will support a United Nations Children’s Fund (UNICEF) initiative to provide sustainable disaster and climate change protection to meet the needs of vulnerable children.
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London headquartered specialty insurance and reinsurance firm Beazley has successfully raised £350 million in the share placing it announced last night, falling a little short of the aggregate target as its share price declined.
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