Alternative reinsurance capital

The global reinsurance market is going to remain boosted by an abundance of capital and capacity, which makes being able to optimise it for your efficient use key, according to Jean-Paul Conoscente, CEO of SCOR Global P&C.

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, is the latest carrier to want to offer its paper to risk capital, reinsurance and underwriting teams, with the launch of an insurance fronting business named PLMR-FRONT.

The Abu Dhabi Investment Authority (ADIA), a sovereign wealth investment fund owned by the Emirate of Abu Dhabi and tasked with investing funds on behalf of the Government of the Emirate, expanded its insurance-linked securities (ILS) allocations last year, as it put an increasing emphasis on asset classes that offer relatively uncorrelated returns.

Reinsurance cedants and protection buyers are increasingly open to using alternative sources of reinsurance capital within their programs, a new survey from rating agency Moody’s has found.

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, announced today that it can now provide re/insurers with optimised access directly to more than 95% of global reinsurance market capital, from across traditional and alternative or ILS fund sources.

Insurance Partners Europe, a Paris-based boutique risk advisory focused on insurance and reinsurance consulting and brokerage, is expanding to offer services to the insurance-linked securities (ILS) space, making a key hire in Pierre Mouilhade, a former ILS portfolio manager at SCOR Investment Partners.

SCOR, the French headquartered global reinsurance company, has launched a new collateralized reinsurance sidecar vehicle in recent months, with a $100 million, single-investor sidecar that incepted in April 2021, the company revealed today.

Helped by a record period of catastrophe bond issuance in the first-half of 2021, alternative capital levels in reinsurance, largely in insurance-linked securities (ILS) formats, have now returned to their previous record year-end level of $97 billion, according to Aon.

Munich Re’s CEO of Reinsurance, Torsten Jeworrek explained today that the company expects positive market conditions at the next renewal season, but said it is vital market pricing sustains the recent gains made to ensure risks are adequately covered.

In a recent Artemis Live video interview, Christian Mumenthaler, the Chief Executive Officer (CEO) of Swiss Re, explained that he expects reinsurance prices will continue their firming trend at the January 2022 renewal season.