Collateralized reinsurance news

The value of insurance-linked securities (ILS) held in the dedicated mutual ILS investment fund operated by Amundi US Investment Management, the Pioneer ILS Interval Fund, almost caught up with their cost in the last quarter of record.

AGILE Risk Partners, a specialist technology-focused direct & facultative (D&F) property risk underwriting start-up that brings diversified capital to its deals, told Artemis it has deployed an initial $50 million from a $250 million allocation to distressed areas of the market.

Universal Insurance Holdings, the Florida headquartered primary insurance carrier, has pre-announced an expectation that it will suffer around $1 billion of gross losses after hurricane Ian, with the impact to fall well within its reinsurance tower that provides coverage to just over $3 billion.

Hurricane Ian is expected to be the largest single insurance industry loss event ever witnessed, with the final bill estimated to be above $75 billion once LAE is factored in, according to analysis from Stonybrook Capital.

Credit Suisse Insurance Linked Strategies Ltd., the dedicated ILS fund management and investment arm of the global investment bank, has estimated that industry losses from hurricane Ian will fall in a range from $45 billion to $65 billion, with a best estimate of $54 billion.

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension providers in that country, has told a publication that it has initially marked down its catastrophe bond fund investments 9% after hurricane Ian, but cautioned that the range of potential outcomes for its broader ILS portfolio remains “wide”.

The insurance-linked securities (ILS) market’s product offering is particularly attractive at this time, helped by reinsurance pricing at higher levels and the significant effort that has gone into re-underwriting portfolios, Luca Albertini, CEO of Leadenhall Capital Partners explained to Artemis recently.

The Ambassador Fund, a US mutual investment fund that was launched to have a core focus on catastrophe bonds, has begun to deploy some initial capital it has raised, but with the deployment being to corporate bonds of insurance and reinsurance companies, as well as one allocation to the preferred notes of what may be […]

We’re delighted to announce that Super Early Bird tickets are now on sale for our next insurance-linked securities (ILS) conference, Artemis ILS NYC 2023. Please register soon to secure attendance at the best possible price.

Insurance-linked securities (ILS) and catastrophe bond funds, as a group tracked by ILS Advisers and Eurekahedge, have delivered their highest monthly return in almost two years in August 2022.