Analysts at Peel Hunt are forecasting that property catastrophe reinsurance rates may increase 20% to 30% above inflation in 2023, based on conversations they’ve had with underwriters and brokers.
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Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has announced the hiring of its first Chief Revenue Officer.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has hired experienced ILS lawyer Matthew Gabin as its Chief Legal Officer and Deputy Chief Operating Officer.
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Credit Suisse Insurance Linked Strategies Ltd., the ILS focused unit of the global asset manager, has promoted Benjamin Baltesar to the position of Head of Underwriting and Pricing.
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Bermuda-based reinsurance firm PartnerRe and Zurich, the global insurance carrier, have backed a £1 billion longevity swap transaction for a UK pension scheme sponsored by a Fortune 500 firm.
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The ownership of Peak Re, the Hong Kong based global reinsurance company, could soon change, as it’s been reported by Reuters that Chinese conglomerate Fosun is looking to offload its majority stake in the company.
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According to sources in the insurance-linked securities (ILS) investment community, side-pockets being established after hurricane Ian by ILS funds that invest in private deals and collateralized contracts, to segregate potentially loss affected investments, are ranging from as small as 3% to as much as 30% of a strategy.
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Hildene Capital Management, LLC, a $12 billion credit focused alternative investment manager, has announced its entry into the life and annuity reinsurance space, with the formation of $1 billion reinsurer Ludlow Re.
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Global re/insurer and Australian primary insurer QBE has pre-warned that it expects to exceed its catastrophe allowance for 2022 by almost AUD 100 million, with total losses of more than AUD 1 billion.
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Super Early Bird ticket sales for our next insurance-linked securities (ILS) market conference, Artemis ILS NYC 2023, will end on November 25th, after which the price will rise. So please register today to secure your place at the lowest possible cost.
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For our latest Artemis Live video interview, we discussed the state of the catastrophe bond market after hurricane Ian and the opportunities now available to investors with Florian Steiger, Head of Cat Bonds at specialist ILS and reinsurance asset manager Twelve Capital.
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The innovative parametric insurance product that provides a form of protection to fund repairs following storm damage to coral reefs has now been taken up in Hawaii, with a policy provided by global reinsurance giant Munich Re, according to arranger WTW.
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After extended last minute negotiations, an agreement has been reached on forming a loss and damage fund at the COP27 climate change conference in Egypt, but the details will matter as to how this important climate risk financing initiative comes together and the role of risk transfer markets in supporting it.
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In a clear signal of catastrophe bond market pricing and cat bond investor demand for adequate returns, Fidelis’ new Herbie Re Ltd. (Series 2022-1) catastrophe bond has been priced at a below-target size of $80 million, with the risk interest spread fixed at roughly 30% above the initially marketed mid-point.
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