Reinsurance News

Insurance and reinsurance broker Willis Towers Watson (WTW) has reported that US commercial property insurance prices continued to accelerate higher in the last quarter of 2020, a difference of opinion with rival Marsh.

Florida’s insurance marketplace needs targeted legislative reform to address the numerous issues being faced by carriers in the state according to Demotech, while access to additional capital remains key for the “dysfunctional” marketplace.

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle, secured £53.5 million of new capital through a share issuance, the majority of which has come from insurance-linked securities (ILS) market sources.

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist, has returned to the capital markets to sponsor an almost $70 million renewal sidecar issuance through its special purpose insurer Voussoir Re Ltd.

Nephila Capital, the largest dedicated manager of insurance-linked securities (ILS) and reinsurance linked investment funds, told us it is delaying the launch of its new specialty line focused Lloyd’s syndicate 2358.

Private equity specialist Apollo Global and life and retirement reinsurance company Athene Holding Ltd. are set to merge, in a transaction that values the latter at $11 billion and the combined company at $29 billion, underscoring the attractive combination that is investing alongside life and annuity reinsurance premium float accumulation.

Global reinsurance giant Munich Re has named a new Managing Director for its activities in Australasia, promoting former head of Non-Life Scott Hawkins to the role.

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep.

Lockton Re, the reinsurance business of the privately held independent global broking firm, has hired Simon Moore, the former Chief Underwriting Officer of CATCo, as a Senior Broker within its Non-Marine Retrocession & Property Specialty team in London.

Insurance origination and distribution specialist AmWINS has confirmed that start-up insurance-linked securities (ILS) fund manager Integral ILS Ltd. will be accessing catastrophe risk through its managing general agents (MGA’s).