Reinsurance News

AXIS Capital’s collateralised reinsurance sidecar vehicle Alturas Re Ltd. has completed another issuance of preferred shares, as the specialist global re/insurer continues to expand options for third-party investors to participate in its underwriting returns through quota shares.

It appears we’re heading quickly towards a familiar reinsurance renewals story, where the ambition to capitalise on rate increases and subsequent inflows of capacity are now serving to ramp up competition. As a result, market sources expect pricing at the January 2021 reinsurance renewals will not be as hard as forecast back in September or […]

Having already received a $10.7 million payout under its parametric tropical cyclone policy after hurricane Eta from the CCRIF, Nicaragua has now also received a payout for a second Category 4 storm, hurricane Iota.

While the recent survey we conducted alongside Synpulse, looking at the adoption of environmental, social, and governance (ESG) practices in the risk transfer, reinsurance and insurance-linked securities (ILS) markets, found that ESG is perceived as very important, there is an evident gap between perception and actual practice.

Following the news that Guernsey based, Credit Suisse Insurance Linked Strategies supported reinsurance firms Kelvin Re and Humboldt Re are to cease underwriting new business, rating agency AM Best has placed their ratings under review with negative implications.

The two Guernsey domiciled, rated reinsurance carriers managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team, Kelvin Re and Humboldt Re, are not renewing any business this January and will stop writing.

A new set of guidance on the treatment of passive foreign investment companies (PFICs) published at the end of last week by the U.S. Internal Revenue Service and Department of the Treasury has been modified so that the active conduct test excludes insurance-linked securities (ILS) funds, as well as other ILS and reinsurance securitization structures.

Improved reinsurance market pricing is attracting significant sums of capital, with the latest estimate from broker Willis Re being that $19 billion has already been raised since the COVID-19 pandemic broke out and another $3 billion of capital raises are underway.

Having been acquired by retail insurance agency network Acrisure LLC in 2018, Beach & Associates, the specialist insurance and reinsurance broker, has now been rebranded as Acrisure Re and Acrisure London Wholesale.

Lockton Re, the reinsurance business of the privately held independent global broking giant, has integrated reinsurance marketplace functionality from Tremor Technologies as part of its client offering.