Blue Capital Reinsurance Holdings Ltd., the stock exchange listed, collateralised reinsurer owned by Sompo International Holdings Ltd., has experienced some positive development in prior year losses, as well positive premium adjustments and better than forecast expenses, as its run-off continues.
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The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market with a $300 million FloodSmart Re Ltd. (Series 2020-1), which will be its third transaction seeking flood reinsurance coverage from the capital market for its National Flood Insurance Program (NFIP).
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Global insurance and reinsurance group Everest Re has pre-announced an expectation of a $215 million catastrophe loss hit and a further $50 million hit from its crop reinsurance book in the fourth-quarter of 2019.
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While a first transaction remains elusive, the pipeline of potential deals that Reinsurance Group of America (RGA) sees as relevant to its joint-venture, third-party capital backed life and annuity reinsurance firm Langhorne Re continues to build and also expand.
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The Australian bushfire disaster has caused some capital to be trapped within the listed retrocessional reinsurance investment fund strategy operated by Markel CATCo, while continued loss creep from hurricane Irma also hit exposed positions at the end of 2019.
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Twelve Capital, the Zurich headquartered insurance and reinsurance linked investment fund manager, has continued to raise new capital for its UCITS catastrophe bond fund strategy, taking the total close to US $550 million.
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Bermuda headquartered specialty insurance and reinsurance group Aspen Insurance Holdings Limited has announced the hiring of Andrew Kudera as Executive Vice President and the firms new Group Chief Actuary.
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For Bermudian specialist insurance and reinsurance firm AXIS Capital the use of third-party and insurance-linked securities (ILS) capital within its business has increased again dramatically, with 27% more in premiums ceded to third-party capital partners in 2019 and a huge 66% more in fees earned.
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Australian primary insurance giant Suncorp has referred to an “unprecedented” start to the season for catastrophe losses this morning, saying that it now expects to make recoveries across its reinsurance program, including its main program, drop-downs and aggregate reinsurance including perhaps its stop-loss.
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Essent Guaranty has returned with its fourth mortgage insurance-linked securities (ILS) transaction and its first of 2020, as it seeks to expand on its capital markets backed sources of excess-of-loss mortgage reinsurance protection with a new $421.6 million Radnor Re 2020-1 Ltd. transaction.
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TransRe, the Alleghany owned reinsurance brand name for Transatlantic Holdings, has restructured its senior underwriting leadership, making Paul Bonny and Ken Brandt Co-Presidents of Global Underwriting Operations and promoting a number to fill in their previous roles.
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Pillar Capital Management Limited, a Bermuda headquartered specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager, has achieved impressive growth in assets under management over the last year.
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The remaining $15 million of notes issued in a 2018 transaction by reinsurance firm RenaissanceRe’s insurance-linked securities (ILS) vehicle Fibonacci Re Ltd. have had their maturity date extended further, as further clarity on potential losses is seemingly sought.
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A powerful magnitude 7.7 earthquake struck the Caribbean yesterday in the afternoon local time, swaying buildings as far away as Miami, Florida and causing some localised damage to countries including the Cayman Islands, Jamaica and Cuba.
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