Reinsurance News

In what may be taken as a positive sign of what’s to come for the insurance, reinsurance and insurance-linked securities (ILS) community, two of the main Atlantic hurricane forecast teams have reduced their seasonal forecast numbers.

German reinsurance firm Deutsche Rück has said that its retrocession program will be triggered and protect its balance-sheet against some of the financial impacts of the recent severe flooding in Germany.

Africa Specialty Risks, a pan-African focused reinsurance group, has announced that it will launch a licensed and eventually rated reinsurance company and has chosen Bermuda as the location for the operation.

Athene Holding Ltd., the life and retirement reinsurance company majority owned by investor and private equity specialist Apollo Global, put third-party capital from its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar to work in a huge $4.9 billion pension risk transfer deal.

Global insurer Allianz is anticipating around €900 million of gross losses just from storm Bernd’s impacts in Europe and the related severe flooding that struck the region, with Germany the country worst affected and the source of the majority of the financial impact.

One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, has partnered with CoreLogic to use its data and models to enhance its services.

Fidelis Insurance Holdings Limited, a specialty insurance and reinsurance firm launched by Richard Brindle, has named Charles Mathias to the newly created role of group director of underwriting, a position that will give him oversight of all underwriting operations.

German reinsurance giant Hannover Re has revealed in its first-half results this morning, that it is anticipating a net loss of up to EUR 250 million from the recent severe flooding across Europe and in particular Germany.

New opportunities for Nephila Capital to grow its insurance-linked securities (ILS) business are expected to come to fruition over the next year through bespoke offerings and ESG portfolios, while Lodgepine’s first retrocession ILS fund launch is just the start, according to Markel Corporation Co-CEO Richie Whitt.

Incoming Hiscox CEO Aki Hussain explained that new capital raised by the group’s Hiscox ILS funds in the second-quarter translated into a significant increase in gross written premiums.