Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, aims to attract increased levels of third-party investor capital to its Aspen Capital Markets unit, through the introduction of “new and innovative” structures.
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McGill & Partners, the boutique risk solutions firm launched by former Aon President Steve McGill, has announced the hiring of Angus Milgate as Head of Treaty Reinsurance, as well as a raft of hires expanding that team to 34 members.
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Ledger Investing, an insurance technology (insurtech) and insurance-linked securities (ILS) venture-backed start-up, has made a key hire in taking AIG’s Chief Risk Officer for North America General Insurance, Brad Fischtrom as its new Chief Operating Officer (COO).
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The Government of Hong Kong continues to make progress on its mission to bring insurance-linked securities (ILS) business to the Special Administrative Region, launching a consultation paper on the definition of eligible ILS investor, as well as minimum investment size guidance and penalties should these rules be breached.
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Here are the ten most popular news articles, week ending 6th September 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.
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Swiss Re has stayed at the top of the Top 50 Global Reinsurance Groups leaderboard, as significant growth in large non-life transactions helped the company increase its gross premiums written by 16% in 2019.
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As the COVID-19 pandemic impact spread around the world and through insurance and reinsurance during the first-half of 2020, the insurance-linked securities (ILS) fund management business of Elementum Advisors, LLC was “not significantly impacted” according to key investor White Mountains.
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Arch Capital Group Ltd., the Bermuda headquartered insurance and reinsurance firm with a growing mortgage insurance arm, successfully secured its second mortgage insurance-linked securities (ILS) transaction of 2020, upsizing the Bellemeade Re 2020-2 Ltd. transaction to $423 million at close.
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Some of the loss hit catastrophe bonds sponsored by U.S. primary mutual insurer USAA have benefited from a return of principal with respect to previously made loss payments under certain reinsurance agreements, presumably a sign of wildfire related subrogation recoveries flowing to the benefit of cat bond funds and investors.
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The onshore and offshore total of insurance and reinsurance market losses from recent hurricane Laura is estimated to be in the double-digit billions, between $10 billion and $15 billion by catastrophe risk modeller RMS.
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Third-party, or alternative capital is unlikely to have a meaningful influence on potential reinsurance rate increases at the key January 1st, 2021 renewals season, according to Brian Schneider, Senior Director, Global Head of Reinsurance, Fitch Ratings.
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Property damage from the severe California wildfires continues, with now close to 4,000 structures having been destroyed in recent weeks and with a heatwave and potential record temperatures forecast for the coming days, further containment of the fires looks challenging.
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Global Parametrics, the parametric and index-based disaster risk transfer company, has partnered with global reinsurance firm Hannover Re to renew an innovative Yucatan, Mexico coral reef parametric insurance cover.
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Issuance of new catastrophe bonds could exceed the record set in 2017 if it continues at the pace set in the first-half of the year, as capital markets risk transfer continues to gain acceptance with cedants and investor appetite continues to grow.
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