Reinsurance News

Use of the capital markets and insurance-linked securities (ILS) solutions to source reinsurance capacity may increase in the wake of 2020, as property and casualty insurers in the United States come to terms with another expensive year on the severe weather and catastrophe front, Kroll Bond Rating Agency (KBRA) believes.

The upcoming January 2021 reinsurance renewals are expected to be lengthier and more complex, as a range of factors play into negotiations, according to reinsurance broker Guy Carpenter.

Well-known London market retrocession focused broker Matt Foreman has now joined Lockton Re as its new Head of the Non Marine Retrocession and Property Specialty Division.

Vantage Risk, the new insurance and reinsurance start-up business from industry veterans Greg Hendrick and Dinos Iordanou, has now launched and revealed a strategy that includes building out insurance-linked securities (ILS) capabilities to drive growth of the company.

Aon’s retrocession and specialty reinsurance broking Global ReSpecialty unit of its Reinsurance Solutions division has hired Marcus Taylor, who previously held senior roles at broker Ed and IAG Re in Singapore.

Fitch Ratings has adjusted its outlook for the global reinsurance sector to stable, from negative, citing the hardening reinsurance market as the reason for its now more positive view on the market.

Lloyd’s based specialist motor insurer ERS will now back the Arcus 1856 syndicate at Lloyd’s, taking over the operation from the Credit Suisse Insurance-Linked Strategies (ILS) team.

Reinsurance broker Guy Carpenter has announced the hiring of Miles Shephard from Aon, who will join the company as Managing Director and Head of GC Access, International, its specialist program capacity focused unit.

ILS Capital Management Ltd. has now received approval from the Bermuda Monetary Authority (BMA) for an expansion of the operating model of its reinsurance company Prospero Re Ltd., which can now write both fully collateralized and traditional reinsurance with an element of leverage.

AXIS Re, the reinsurance division of global specialty re/insurer AXIS Capital, has announced the hiring of Emilie Hungenberg in Zurich, who’s most recent position had been as a Senior ILS Underwriter with investment manager Schroders.