capital markets


Lloyd’s secures £650m Central Fund cover, £450m of it collateralised

Lloyd's, the London insurance and reinsurance marketplace, has secured a £650 million cover for its Central Fund, with £450 million of it provided by an investment bank and fully collateralised, according to a report. The FT reported first this morning that Lloyd's has taken the plunge and secured a reinsurance or read the full article →

Cat bond activity may give multi-strategy funds room to expand

The acceleration of activity in the global catastrophe bond market over the last few months could now drive an opportunity for a number of multi-strategy investment funds to expand, as the availability of paper has increased even causing some investment managers to lift the shutters on closed funds, we understand. Which read the full article →

Higher prices driving stabilisation of peak US wind exposures

Major insurance and reinsurance companies that had been pulling-back on peak US wind over recent years are being seen to stabilise their exposures in reaction to the higher-priced opportunity coastal risk presents, according to analysts and our sources. The prolonged softening of property catastrophe reinsurance rates over almost a decade up read the full article →

Root places property catastrophe reinsurance program with Tremor

Root Insurance, an insurtech that launched with an auto insurance focus and is now expanding into renters and homeowners cover, has placed its June property catastrophe reinsurance program renewal using Tremor Technologies programmatic risk transfer marketplace Panorama. Root placed all of its June property catastrophe reinsurance tower using Tremor Panorama, taking read the full article →

ILS should “build more bridges” from capital back to risk: Ruoff, Schroders Capital

The insurance-linked securities (ILS) market needs to work to "build more bridges from capital markets back into the risk bearing markets" to drive continued growth, according to Stephan Ruoff, Global Head of Insurance-Linked Securities (ILS), Schroders Capital. Speaking during an event this week, Ruoff explained that while the ILS industry is read the full article →

Hudson Structured upsizes investment in insurtech Branch

Hudson Structured Capital Management Ltd., undertaking its insurance and reinsurance investment business as HSCM Bermuda, has invested in home and auto insurtech firm Branch for a second time, participating in a $50 million Series B fund raise. Previously, HSCM Bermuda co-led Branch’s $24 million Series A round, financing the technology-driven read the full article →

Miller hires Erik Manning from Peak Capital as Head of ILS

Insurance and reinsurance broker Miller, the newly independent and private equity funded broking group, has announced a further expansion into the insurance-linked securities (ILS) world, with the appointment of Erik Manning as Head of ILS. Manning was most recently the Co-CEO of Peak Capital, the ILS investment fund manager operation of read the full article →

ILS Capital’s Prospero Re in accident year improvement, but Jebi loss creep persisted

According to a rating report from KBRA, ILS Capital Management’s reinsurance company Prospero Re Ltd. reported an improved accident year combined ratio for 2020, but its calendar year result was affected by loss creep largely related to 2018's typhoon Jebi. Prospero Re Ltd. is the rated reinsurance vehicle of Bermuda headquartered read the full article →

Cat bond & related ILS to break Q2 and first-half issuance records

After a flurry of catastrophe bonds launched in recent days, it is now clear that issuance of new catastrophe bonds and other related insurance-linked securities (ILS) tracked here at Artemis will break the record for the second-quarter and also the first-half of 2021. We explained back in May that the market read the full article →

Commercial property rates still firming, but evidence of deceleration grows

Insurance and reinsurance broker Willis Towers Watson (WTW) reported this week that US commercial property insurance prices continued to rise in the first-quarter of the year, but said that the rate of change has "moderated fairly significantly." "Data for nearly all lines indicated significant price increases in the first quarter; however, read the full article →