Arch Insurance, the primary arm of Bermuda based insurance and reinsurance player Arch Capital Group, has promoted Krista Bonneau to the position of Senior Vice President of Ceded Reinsurance, giving her responsibility for buying across the protection programs of the company.
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Arbol, a provider of marketplace technology that utilises smart contracts, has now sold $11 million notional in weather risk transfer contracts through its platform in the first four months since it began trading live transactions.
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Italian primary insurance company UnipolSai Assicurazioni S.p.A. demonstrated a long-lasting commitment to engaging with the insurance-linked securities (ILS) market with its recently completed EUR 100 million Azzurro Re II DAC (Series 2020-1) catastrophe bond, according to executives at Willis Re.
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Even in the face of Covid-19, the resilience of the insurance-linked securities (ILS) market has been impressive, but moving forward, the entire risk transfer industry needs to be more attentive to emerging complex risks, says Benny Chey, Assistant Managing Director (Development and International), Monetary Authority of Singapore (MAS).
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Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced the departure of Partner Simon Fascione who will leave the firm on September 30th.
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French global reinsurance company SCOR has reported an estimated EUR 456 million of losses due to the Covid-19 pandemic booked in the second-quarter of 2020, with retrocession support helping the company in managing the burden, particularly on the P&C side of its business.
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Global reinsurance giant Swiss Re has reported what it calls a “significant addition” to its loss reserves for the Covid-19 pandemic, taking the total first-half 2020 hit from the coronavirus to $2.5 billion.
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Hudson Structured Capital Management Ltd., undertaking its insurance and reinsurance investment business as HSCM Bermuda, has co-led a $24 million Series A investment round for home and auto insurtech firm Branch.
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Global insured natural catastrophe losses rose to over $30 billion for the first-half of the year, as the insurance, reinsurance and insurance-linked securities (ILS) market supported roughly 40% of the estimated $75 billion of economic losses driven by events around the world in H1 2020, according to Aon.
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The past few months have provided unprecedented challenges for all areas of the global financial markets, but for insurance-linked securities (ILS) players, the ongoing desire for un-correlated assets presents a great opportunity, according to industry experts.
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Australia headquartered global insurance and reinsurance group QBE has revealed an expectation of a US $750 million loss for the first-half of 2020, as its catastrophe losses came in over budget and it forecast a $335 million hit from Covid-19 in the period.
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FedNat Holding Company, the U.S. primary insurance carrier group, has bolstered its reinsurance program for the 2020-2021 season, adding coverage to reduce its second and third event retentions, plus a non-Florida quota share and a Florida specific quota share with Swiss Re.
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With reinsurance pricing firming broadly and expected to continue to do so, one of the dynamics we expect to see in the marketplace is increasing competition, as the improved rate environment attracts some underwriters back to the market.
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The Alturas Re Ltd. collateralised reinsurance sidecar vehicle of global specialist re/insurer AXIS Capital has completed a new issuance of 3,628 preferred shares, meaning options for third-party investors to access the returns of AXIS’ underwriting business seemingly expand.
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