Alternative reinsurance capital

AXA Group has announced its nine-month figures and revealed an estimate of EUR 400 million of claims after hurricane Ian, which are all expected to hit the AXA XL division and is gross of tax and net of reinsurance.

During the RenaissanceRe third-quarter earnings call today, CEO Kevin O’Donnell explained that the reinsurance and insurance-linked securities (ILS) industry has to provide returns to its investors and shareholders, or risk capital exiting the space.

The investment results of Nephila Capital’s insurance-linked securities (ILS) fund strategies are tracking expectations, including for the estimate of losses from major hurricane Ian, according to the Co-CEO’s of owner Markel Corporation.

RenaissanceRe, the Bermuda headquartered reinsurance and third-party capital management specialist, passed on some $372.4 million of losses to investors in some of its managed reinsurance structures during the third-quarter, with hurricane Ian the main driver.

Nephila Capital, the flagship insurance-linked securities (ILS) fund management operation owned by Markel Corporation, has reported a $700 million decline in net assets, as hurricane Ian’s impacts and losses drove the total down to $7.8 billion.

Here are the ten most popular news articles, week ending October 30th 2022, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Reinsurance giant Swiss Re is comfortable that it’s treated the investors in its alternative capital structures well, including when it comes to recent hurricane Ian, Group CFO John Dacey has said.

K2 Parametric, a parametric insurance managing general agency (MGA) launched last year by K2 Insurance Services, LLC, has partnered with global specialty insurance and reinsurance group, Chaucer, to boost its line size capability for a new parametric solution via the London market.

AXIS Capital reported its third-quarter 2022 results yesterday, with another decline in reinsurance premiums written as its exit from property reinsurance underwriting takes hold, but a more significant dip in Strategic Capital Partner fee income, which could also be a sign of hurricane Ian’s impacts.

Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has announced the completion of a Series C funding round sized at $80 million, which it says values the firm at $1 billion.