Reinsurance News

The African Risk Capacity (ARC) will pay the Government of Côte d’Ivoire $738,835 after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.

Blerina Essen, the Managing Director of UK-based lottery provider MyLotto24 and someone who worked on and sponsored some of the earliest lottery jackpot insurance-linked securities (ILS) transactions, is to consult and advise to gaming services provider RISQ on reinsurance and hedging.

There is a distinction between reinsurance firms that purely rely on retrocession, often from alternative capital, to support their gross underwriting, and those that target earning fee income by managing it for third-party investors, rating agency Moody’s says.

The amount of insurance-linked securities (ILS) and collateralised reinsurance collateral trapped after the 2017 and 2018 catastrophe losses has begun to shrink in 2019, with the overall amount trapped having declined by as much as 10% since its peak, estimates show.

Reinsurance pricing momentum through renewals in 2020 is expected to range between flat to moderately rising, according to findings from Moody’s Investors Service.

TigerRisk Partners, LLC, the reinsurance brokerage, risk and capital advisory, has hired and appointed Manoj Gupta, previously of Third Point Re, to be the brokers Chief Operating Officer.

The acquisition of insurance- linked securities (ILS) asset manager Coriolis Capital Limited has been completed by SCOR Investment Partners, the investment arm of reinsurance giant SCOR.

Reflecting on the successful return of his company to the catastrophe bond market in 2019, Christian Mumenthaler, the CEO of reinsurance firm Swiss Re, explained that the reinsurer has always shown a commitment to the ILS market.

The first parametric agricultural insurance programme has been launched in Cameroon, by AXA Cameroon and AXA Climate in collaboration with the World Bank Group’s Global Index Insurance Facility (GIIF).

The use of insurance-linked securities and third-party reinsurance capital is a “strategic component” of the business model for reinsurer PartnerRe, its CEO told us.