Global insurance and reinsurance firm Everest Re continues to take steps to reduce its exposure to property catastrophe related volatility, with its writings of catastrophe excess-of-loss reinsurance business falling to just 16% of its first-quarter book.
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The Governor of Florida Ron DeSantis has now issued an official proclamation calling for a special legislative session, specifically to address issues the state is facing in the property insurance and reinsurance marketplace.
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The steady, positive returns delivered by insurance-linked securities (ILS) during times of broader financial market downturns, shows that the asset class offers reliable and consistent diversification potential for investors, according to PIMCO.
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Florida’s Citizens Property Insurance Corporation is back in the catastrophe bond market to sponsor a $100 million or greater Everglades Re II Ltd. (Series 2022-1) transaction, from which it is seeking named storm reinsurance protection for its Personal Lines Account book of business.
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Assets under management at Markel’s flagship insurance-linked securities (ILS) operation Nephila Capital declined slightly during the first-quarter of 2022, ending the period at $8.6 billion.
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Broking group Howden, global reinsurance firm Munich Re and UK insurtech Skyline Partners have teamed up to develop a parametric hurricane insurance product for Jamaican farmers.
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After Markel Corporation sold off the managing general agent (MGA) platforms created and owned by its flagship insurance-linked securities (ILS) investment manager Nephila Capital, it’s now become clear the combined value of the MGA’s was around $384 million.
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The Travelers Companies, the property & casualty insurance giant from the United States, has returned to the catastrophe bond market for the first time in four years, seeking to renew at least a portion of its capital markets backed reinsurance by sponsoring a $300 million or larger Long Point Re IV Ltd. (Series 2022-1) issuance.
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Catastrophe losses suffered during the month of March 2022, largely from tornadoes and severe convective weather affecting Texas and the southeast of the United States, have elevated Allstate’s first-quarter catastrophe losses to $462 million pre-tax.
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The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark.
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Following its recent ratings downgrade, U.S. primary insurance carrier group FedNat has admitted there is substantial doubt over its ability to continue as a going concern, with a potential fall into receivership or failure to secure reinsurance seen as issues that could be fatal for the insurer.
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Rating agency AM Best has maintained its outlook for the London insurance and reinsurance market at Stable, with improving access to third-party capital one of the key drivers.
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Darren Toh, a portfolio strategy focused employee of insurance-linked securities (ILS) investment manager Nephila Capital, has moved across to the firm’s weather and climate risk focused division, Nephila Climate.
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Last Friday we welcomed more than 200 attendees to our fifth insurance-linked securities (ILS) conference held in New York City and our first in-person event since the pandemic.
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