Reinsurance News

The first more public cyber insurance-linked securities (ILS), or cyber catastrophe bond deal cannot be far away, panellists concluded at an ILS roundtable hosted by global reinsurance firm Munich Re in Monte Carlo this morning.

Global reinsurance firm Swiss Re has continued to expand its activities in insurance-linked securities (ILS) over the last year and Philipp Rüede, Head of Swiss Re’s Alternative Capital Partners (ACP) unit, explained to us that with now multiple access points available to investors, the company hopes to grow all its ILS strategies.

Lumen Re, the main reinsurance underwriting vehicle of LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager LGT Capital Partners, has taken onboard an external equity investor and named two senior appointments as it continues to build-out its platform.

In order for the insurance and reinsurance industry to address the societal challenges of climate change, more capital is going to be required and the sector capacity base needs to change forever, Aon CEO Greg Case said today.

The insurance-linked securities (ILS) market must demonstrate through its performance how it has worked to improve its underwriting and investment product offering after the recent years of challenging losses, Luca Albertini, CEO of Leadenhall Capital Partners told Artemis.

Global reinsurance giant Swiss Re said this morning that more rate hardening is expected across the market, in order to accurately reflect higher risk exposures and growing demand for protection.

PERILS AG, the Zurich headquartered provider of catastrophe loss data and indices, has added European flood risk to its service offering, as the company will now provide exposure data and event industry loss data on the peril.

The traditional reinsurance market and alternative market, or insurance-linked securities (ILS), are far more aligned on price this year, with a difficult renewal season ahead, where capacity is expected to be an issue, according to Munich Re senior executive Torsten Jeworrek.

The insurance-linked securities (ILS) market needs to defend the gains it has made in improved terms and conditions, making sure technical underwriting standards are maintained, Marcel Grandi of investment manager Twelve Capital has said.

AM Best executives discussed capital dynamics in the reinsurance industry at a briefing held in Monte Carlo at the annual Rendez-vous event today, concluding that no significant injections of capital are expected on either traditional or ILS sides of the market.