Collateralized reinsurance news

Specialty insurance and reinsurance player Brit Ltd. highlighted the important benefit of the capital partner relationships behind its Sussex Capital collateralised reinsurance structure this morning, while the firms third-party investors appear to have taken a small share of losses in the first-half.

RSA Group, the UK based insurance group, has warned reinsurers signed up to its Group Volatility Cover (GVC) and catastrophe reinsurance that it hopes to be able to pass on Covid-19 pandemic related losses, above certain levels, to each of those programs.

Markel Corporation hopes to see fresh inflows coming into its insurance-linked securities (ILS) business in the second-half of 2020, as the capital markets become less volatile and investor confidence recovers, according to Co-CEO Richie Whitt.

Discussing the challenges faced in the insurance-linked securities (ILS) market as a result of the Covid-19 pandemic today, Darren Redhead, CEO of Lancashire Capital Management, explained how his unit is relatively insulated from issues related to redemption that some others in the ILS space have faced.

A handful of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions have experienced some further adverse development related to 2019’s Japanese typhoon Hagibis in June, we understand.

Lancashire Capital Management Limited, the third-party capital collateralised reinsurance underwriting arm of specialty insurance and reinsurance group Lancashire Holdings, has delivered higher fee income to its parent in the first-half of 2020, as profits of the unit rise alongside its increased assets under management.

There’s a very real and vast opportunity for sustained insurance sector growth across emerging Asia over the next decade, and insurance-linked securities (ILS) capacity will be required, according to executives at Hong Kong domiciled reinsurance company Peak Re.

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note and private cat bond platform, has completed two new transactions, amounting to just under $56.6 million of risk capital issued around the mid-year renewal season.

An update to the Bermuda Monetary Authority’s (BMA) guidance notes on special purpose insurers (SPI’s), the most commonly used structure for transacting insurance-linked securities (ILS) and collateralised reinsurance, lays out the regulators position on key issues related to collateral rollover, release of collateral and also the subject of clawback.

U.S. primary insurance carrier Travelers is now very close to attaching or triggering its $280 million of aggregate reinsurance coverage, after a heavy catastrophe toll from severe weather in the second-quarter added to the companies losses.