Insurance-linked securities (ILS) fund strategies delivered a second month in a row of muted performance in March 2022, as some catastrophe exposure and continued price pressure in catastrophe bonds, dented returns for some strategies, but overall the sector remains positive for Q1, further underscoring the decorrelation potential for investors.
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Global reinsurance giant Swiss Re looks set to remain underweight on Florida reinsurance business, as unless the market accepts its view of risk, the company is unlikely to expand in the state and lacks optimism on the potential for pricing to rise adequately, its CFO John Dacey explained this morning.
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US primary insurance giant Allstate has renewed its main excess catastrophe reinsurance towers for 2022 into 2023 and the company has raised the top of its per-occurrence reinsurance coverage to $6.6 billion, but on the aggregate side the tower has shrunk with coverage attaching lower-down now thanks to the use of event deductibles.
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In reporting its results this morning, specialist underwriter Hiscox Group said that net inflows into its Hiscox ILS business had allowed the company to capitalise on the hard market in North American catastrophe reinsurance and retrocession in the first-quarter.
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Global reinsurance firm Swiss Re has reported a net loss of $248 million for the first-quarter of 2022, as $524 million of natural catastrophe claims, $515 million of claims from the COVID-19 pandemic and reserving for potential losses from the war between Russia and Ukraine dented its performance for the start of the year.
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A recently launched US mutual investment fund with a core focus on catastrophe bonds, is expanding its investment scope to include more types of insurance or reinsurance assets prior to its full launch, with the Ambassador Fund adding to its prospectus so it can take opportunities to begin gaining traction.
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Universal Insurance Holdings, the Florida headquartered primary insurance carrier, is making good progress on securing its core catastrophe reinsurance arrangements in advance of the US wind season, according to its CEO Stephen J. Donaghy.
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As issues continue to challenge the Florida insurance marketplace, Michael Stahel of LGT ILS Partners feels the upcoming mid-year renewals could be an optimal time to implement some needed changes.
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American International Group’s (AIG) insurance-linked securities (ILS) and collateralized reinsurance investment manager entity, AlphaCat Managers, continued to grow its assets under management during the first-quarter of 2022, adding another $100 million to take it to $3.7 billion.
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RenaissanceRe, the Bermuda headquartered reinsurance underwriting firm and third-party capital manager, has added just over $1.4 billion of capital to its range of insurance-linked securities (ILS) structures and joint-venture vehicles so far in 2022.
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Global reinsurance company Hannover Re has reported a loss-challenged start to the year, as natural catastrophes and other man-made events eroded its large loss budget, while the company also set a low triple-digit million euro reserve for potential losses from the war in Ukraine.
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As Everest Re hones its portfolio, to lower its property catastrophe exposure in a firming market, the company is finding this trade of more profit, for less exposure, to be an outstanding one, according to CEO Juan Andrade.
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This new Artemis Live video saw us interviewing senior executives at insurance-linked securities (ILS) and reinsurance investment manager Aeolus Capital Management, to discuss their ongoing program of climate risk research and how that is playing into investment decision-making at the firm.
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In order for progress to be made in reforming and fixing Florida’s property insurance crisis, analysts at Assured Research have said that the only way to move forwards may be for reinsurance underwriters to pull capacity from the state.
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