Reinsurance News

Multinational investment bank and financial services company Deutsche Bank has hired Philippe Kremer, an experienced insurance-linked securities (ILS) and structured reinsurance expert, who has previously worked at Citi and Swiss Re.

Beazley has announced this morning that its Smart Tracker special purpose arrangement (SPA) syndicate 5623 will now become a full market-facing syndicate at Lloyd’s.

The fall-out from downgrades and insolvencies of property insurers that have been largely triggered by conditions in the Florida marketplace continues to spread to other states.

U.S. primary insurer and global re/insurer Liberty Mutual has made two senior appointments in its Global Risk Solutions (GRS) division, promoting from within to Reinsurance CUO and hiring a new GRS CRO from Aspen.

Insurance-linked securities (ILS) investors remain very selective about opportunities to allocate capital still, with loss creep issues still fresh in the memory, as well continued fears of volatile loss experienced and trapped capital, AM Best has said.

DaVinci Reinsurance Ltd. (DaVinciRe), perhaps the best-known of the RenaissanceRe reinsurance joint-venture vehicles, is set to benefit from its access to risk through its parent, as well as higher rates on both sides of its business, according to rating agency Moody’s.

While the insurance-linked securities (ILS) industry cannot avoid inflationary effects completely, the structures utilised have some tools embedded that allow ILS managers to tame the effects of inflation on their portfolios, according to Dirk Lohmann, Chairman, Schroders Capital ILS.

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, wants to become the continent’s disaster risk financing provider of choice, but increasing its capacity and lowering-costs for country members remains key.

The Texas Windstorm Insurance Association (TWIA) is set for another expansion of its policy count and exposure, as it readies to accept policyholders who’s cover is being cancelled due to the insolvency of Florida-headquartered insurer Weston.

Lemonade, Inc., one of the highest profile insurtech firms, has renewed a catastrophe excess-of-loss reinsurance treaty at the July 1st renewals and also lowered its quota share cession rate for the second time.