Reinsurance News

We’ve now published the full video of our recent Capital markets structures for originators (sidecars for MGA’s) live webinar that was held on November 21st 2024 and featured insurance-linked security (ILS) and reinsurance industry experts discussing the developing trend of risk originators using ILS structures, to source capital markets risk and partnership capacity.

France headquartered global reinsurance firm SCOR said today that it has added three new risk partners in 2024 so far, as it continues to expand its third-party capital relationships and activities under Risk Partnerships, while seeing its 2026 target for fee income growth from this business as on track.

Reinsurance broker Guy Carpenter has begun a research project into the use of reciprocal exchanges for delivering parametric catastrophe insurance solutions, to identify whether the structure is a viable one for community-based coverage initiatives.

Investor optimism remains strong for catastrophe bonds and reinsurance sidecars, but when it comes to collateralized reinsurance that optimism still lags, but institutional investors are positively working to address issues that have made allocating fresh capital more of a challenge in private ILS and collateralized reinsurance, according to Artex.

MetLife, Inc., one of the largest life and annuities insurance groups in the world, is partnering with institutional capital providers and asset managers to launch Chariot Reinsurance, a new Bermuda based company that will initially act as a kind of sidecar for the company, but seems well-positioned to become market-facing in future.

The Board of the Texas Windstorm Insurance Association (TWIA) has today approved a $485 million budget line item for ceded reinsurance and catastrophe bond spend for 2025, which is up 22% on the $397 million spent on protection for 2024.

Global insurance giant Allianz has sponsored a life and annuity focused reinsurance sidecar named Sconset Re Ltd., securing backing from institutional investors to capitalise the structure and partnering with PIMCO as well as other institutions for asset management support.

Insurance and reinsurance broker Aon has promoted Ciaran Healy to the role of Global Captive Leader for the firm’s Commercial Risk Solutions division, a position that will see him also with responsibility for the management of insurance-linked securities (ILS) and protected cell structures as well.

After a trip to Bermuda to speak with reinsurance executives on the island, analysts from BMO Capital Markets said the expectation seems to be that 2025 renewals will see property catastrophe reinsurance rates fall between 5% and 10%, while retrocession renewal pricing may fall as much as 10% to 20%.

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has made a payout of US $4.67 million to the Government of Honduras after its parametric excess rainfall insurance policy was triggered following a severe event in November, taking CCRIF parametric payouts made for the current policy year to almost US $118 million.