Reinsurance News

American International Group’s (AIG) reinsurance program has undergone a critical evolution over the last year with a range of changes now made at the January 1st 2021 renewals to reflect the underlying changes to the insurers portfolio, incoming CEO Peter Zaffino has explained.

Hong Kong headquartered global reinsurer Peak Reinsurance Company Limited (Peak Re) has now revealed that it successfully renewed its Lion Rock Re fully collateralised reinsurance sidecar at a larger size of $107 million for 2021.

The Aon and Willis Towers Watson (WTW) merger will “significantly lessen competition” in the supply of commercial risk, reinsurance and employee benefits broking, the Australian Competition & Consumer Commission is concerned.

Arch Insurance International, part of the global insurance and reinsurance underwriting Arch Capital Group, has named Louis Tucker as the new head of its Lloyd’s managing agency operations, Arch Managing Agency Limited.

Athene Holding Ltd., the life and retirement reinsurance company majority owned by investor and private equity specialist Apollo Global, saw another healthy quarter of management fee income from its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar vehicle in Q4 2020.

Given the growth in assets under management at global insurance and reinsurance underwriter Everest Re’s dedicated Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle, executives from Everest discussed the benefits of the strategy to the parent firm yesterday.

Gabriel Bernardino, the soon to retire Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), has highlighted the capital markets role in delivering catastrophe insurance that has fewer protection gaps.

American International Group’s (AIG) insurance-linked securities and collateralized reinsurance activities under its dedicated ILS investment manager entity, AlphaCat Managers, delivered higher income for the final quarter of 2020.

The insurance and reinsurance market loss from European windstorm Victoria, also known as storm Dennis in the UK, which struck in February 2020, has now been finalised at EUR 350 million, by PERILS AG.

The insurance-linked securities (ILS) market has never stood still during its relatively young, approximately 25 year history. But it’s clear that the ILS industry is acutely focused on delivering more evolutionary change and progress at this time, with the next-generation of ILS risk transfer and investment opportunities already in development.