Collateralized reinsurance news

French reinsurance company CCR Re has been growing its property catastrophe portfolio in recent years and wants to continue this trend in 2023, seeing its 157 Re collateralised reinsurance sidecar as a key tool in this respect, Mathieu Halm, Chief Retrocession & Alternative Capital Officer at CCR Re explained to Artemis.

Today we announce some more expert speakers who will be joining us at our insurance-linked securities (ILS) conference, Artemis ILS NYC 2023 on February 10th in New York City, as well as the outline agenda for the day. Please register soon to guarantee your place at the conference as tickets are selling fast.

CCR Re, the state-owned reinsurance firm based in France, has successfully renewed its 157 Re collateralised reinsurance sidecar vehicle for 2023, increasing the amount of capital raised for the structure by over 40% and adding another investor.

Bermuda saw another strong year of new company registrations for catastrophe bond, insurance-linked securities (ILS) and collateralised reinsurance related vehicles in 2022, with cat bond formations leading the way.

Citizens Property Insurance Corporation, the property insurer of last resort for the Florida marketplace, expects to grow its policy count by around 46% during 2023, to reach roughly 1.7 million policies in-force by the end of the year.

The losses and resulting fall-out after hurricane Ian, as well as the inevitable hit to investor sentiment, is likely to drive further evolution of the insurance-linked securities (ILS) industry, which could help to address some investor concerns, Frontier Advisors believes.

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, has announced a new key hire, taking former Elementum executive Benjamin Somers as its new Managing Director of Business Development.

Because of increased exposure and an adjustment to its catastrophe risk modelling approach, the Texas Windstorm Insurance Association (TWIA) could end up buying around 46% more in reinsurance limit for the 2023 hurricane season.

Global reinsurer Munich Re has now added to its collateralized reinsurance sidecar arrangements for 2023, with a second tranche of notes now issued by its Eden Re II Ltd. vehicle, taking the total issued so far around this renewal to $131.1 million.

The impacts and losses to insurance-linked securities (ILS) strategies from hurricane Ian this year were a “setback” for performance, but also another chance to reflect and double-down on portfolio management processes, according to Amundi US’ Chin Liu.