Reinsurance News

The CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, has successfully secured another release of trapped capital which will be returned to its investors.

Global reinsurance firm Hannover Re has the capital markets at the heart of its core catastrophe retrocession program, with investors supporting some 80% of its aggregate retro and 78% of its Cat XL coverage through K-Cessions.

The third-quarter saw significant proportions of catastrophe losses retained by insurers, due to the proliferation and aggregation of multiple smaller loss events. But the fourth-quarter could see that trend reverse, if insurers breach the retained proportion of their aggregate reinsurance covers, analysts at Jefferies have explained.

Florida headquartered, expansive catastrophe exposed primary property insurer United Insurance Holdings (UPC Insurance), has increased added to its reinsurance program protection by raising the quota share cession rates it has with its reinsurance partners.

Hamilton, the Bermuda based insurance and reinsurance holding company, has formally launched its Ada Capital Management platform and Ada Re underwriting vehicle for its awaited entry into the collateralized retrocession space.

An aggregation of similar inflationary factors to those seen in 2001 means the reinsurance market may see a multi-year hard market, according to analysts at Jefferies.

Inigo Insurance is launching in time for the January renewals as a London headquartered and Lloyd’s market focused specialty insurance and reinsurance underwriter, with $800 million of funding from a range of pension, sovereign wealth and private equity investors.

The Bermuda market is intrinsically involved in much of the successful capital raising going on in the global reinsurance sector, with the Class of 2020 well on the way to establishing itself, Arthur Wightman, PwC Territory and Insurance leader has said.

Universal Insurance Holdings, the Florida headquartered and expansive primary insurance carrier, has announced that Matthew J. Palmieri will take become President of its Universal Property and Casualty Insurance Company (UPCIC) subsidiary, as Jon W. Springer is set to retire.

The insurance-linked securities (ILS) market is currently experiencing somewhat of a flight to simplicity, and with technology led risk transfer solutions set to drive greater standardisation, it’s expected that the capital markets will be able to participate more readily as a result.