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Higher risk-free rate boosts ILS investment returns

The steady rise in interest rates of instruments such as U.S. Treasuries, that are typically used as collateral for insurance-linked securities (ILS) and collateralized reinsurance investments, have now served to boost returns for ILS investors in 2019.U.S. Treasuries have seen their interest rates rise steadily over the last two years, read the full article →

Armour Group hires John Parry (ex-Lloyd’s) as CFO

Armour Group, the Bermuda-headquartered P&C legacy or run-off reinsurance specialist and founder of ILS Investment Management (ILSIM), has announced that it has hired former Lloyd's of London CFO as its new Group Chief Financial Officer.Parry, who left Lloyd's recently having helped it to begin a more serious search for participation read the full article →

Some ILS funds improved their collateral terms at 1/1 renewals

Around the January reinsurance renewals this year there was a lot of talk regarding brokers and ceding companies pushing insurance-linked securities (ILS) funds to agree to more stringent terms related to collateral release and rollover.But it seems, while this was relatively widely seen, especially in the reinsurance sidecar market, some read the full article →

Guernsey’s 30-day ILS collateral rollover could be copied

The lead taken by Guernsey to formalise the collateral rollover rules for insurance-linked securities (ILS) and collateralised reinsurance cells established in the domicile could be copied, as other ILS markets look to review their approaches to this key area of the ILS calendar.Guernsey confirmed last year that it would offer read the full article →

ILS collateral rollover rule formalised at 30 days by Guernsey regulator

Insurance-linked securities (ILS) cells established in Guernsey will benefit from formalised collateral rollover provisions, including confirmation of a 30-day grace period at the start of a transaction where an ILS cell would not be considered in breach of its fully-funded requirements.The Guernsey Financial Services Commission (GFSC) has clarified and formalised read the full article →

Legacy expert Armour looks to help free capital from trapped ILS assets

Bermuda-headquartered P&C legacy or run-off reinsurance specialist and founder of ILS Investment Management (ILSIM) Armour Group is seeking to put its expertise to work to help ILS funds or investors that have been hit by recent catastrophe losses.Artemis has learned from our sources that Armour Group is actively looking to read the full article →

Florence could tie up retro collateral: Luca Albertini, Leadenhall

As Hurricane Florence bears down on the US East Coast as a category 4 storm, Luca Albertini, CEO and founding partner of Leadenhall Capital Partners warned that regardless of whether it is a market-changing loss, it could trap collateral in retro programmes.This in and of itself, regardless of whether or read the full article →

Ramsey joins Wilmington Trust insurance & ILS collateral team

Wilmington Trust, N.A. has announced the hiring of Michael Ramsey to the role of client development officer in its Insurance Collateral Solutions team, the area of the business focused on collateral solutions for insurance-linked securities (ILS) including catastrophe bonds and other reinsurance transactions.In the new role within the Insurance Collateral read the full article →

Karson launches KT-Notes, an alternative reinsurance & ILS collateral

Karson, a global provider of liquidity, capital and collateral solutions to the insurance industry, is anticipating strong demand for its newly launched KT-Notes, which are designed to address the collateral needs and obligations of reinsurers and insurance-linked securities (ILS) investors.Karson is led by a veteran of the insurance-linked security (ILS) read the full article →

Potential for ILS collateral mechanism tensions to emerge post-loss: Speakers

The range of fully collateralised insurance-linked securities (ILS) mechanisms remain largely untested in the face of a large loss-event, and the complexity of extreme events suggests that potential tensions within the marketplace could emerge after an event, according to industry leaders.Speaking as part of the Chief Executive Officer (CEO) panel read the full article →