Reinsurance News

Corant Global, the rebranded BGC Insurance arm, has announced the establishment of a Bermuda reinsurance broking operation, with Kevin Stratton hired from RFIB to lead the unit.

The Insurance Council of Australia (ICA) has highlighted the billion dollar insurance and reinsurance market loss potential of the ongoing severe flooding event and storms in the Queensland, New South Wales (NSW) region of Australia.

Hamilton Insurance Group’s recent successful completion of its first full 144A catastrophe bond issue, the Easton Re Pte. Ltd. (Series 2020-1) transaction, shows that, alongside its Ada Capital Management launch, shows the company is gaining momentum in ILS and its ambition to grow its third-party capital under management, according to its executives.

The ongoing severe flooding event and storms in the Queensland, New South Wales (NSW) region of Australia has the potential to result in a billion dollar insurance and reinsurance market loss event it seems, as insurers highlight their reinsurance and possible recoveries to be made.

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance player, is back in the capital markets in search of more mortgage reinsurance protection, with a large, up to $665 million Bellemeade Re 2021-1 Ltd. mortgage insurance-linked securities (ILS) issuance.

Global primary insurance carrier and reinsurance company Chubb has confirmed that it made a roughly $23.24 billion offer for rival the Hartford, offering $65 per share, a deal that falls short of the acquiree’s now boosted valuation of $24.36 billion.

The longest running reinsurance gathering in the world, the Rendez-Vous de Septembre (RVS) or Monte Carlo Rendez-Vous, has been cancelled for the second year running, on fears the pandemic will not be sufficiently behind us by this September.

At the recent January 1st 2021 reinsurance renewals, the expectations for significant impairment to some insurance-linked securities (ILS) strategies because of trapped collateral due to exposure to the COVID-19 pandemic proved overblown.

According to a report published on Bloomberg, global primary insurance carrier and reinsurance company Chubb is looking at significant expansion opportunities, with a potential $22 billion acquisition of the Hartford said to be being explored. Update: Chubb confirmed it had made a $23.24bn offer for the Hartford.

The global risk transfer industry is poised for change amid a wave of disruption from numerous sources, a trend accelerated by the impacts of the Covid-19 pandemic and the emergence of SPACs, according to Michael Millette, the Founder and Managing Partner of specialist investment manager Hudson Structured Capital Management.