Collateralized reinsurance news

The market could achieve “significant” reinsurance rate increases at the upcoming Japanese renewals in April and Florida renewals in June, as these two markets face some level of re-pricing on the back of catastrophes and market issues, according to S&P.

As the January 2020 reinsurance renewals fast approached the two issues of trapped ILS capital and dented retrocessional capacity proved not to be as big or impactful as anticipated, with the market still managing to clear, partly thanks to the increased appetite and re-entry of large traditional players.

U.S. and global primary insurance carrier and reinsurance company Chubb has announced an expected fourth-quarter pre-tax and net of reinsurance hit of $430 million from catastrophe losses and an additional $23 million of losses from U.S. agricultural lines which were hit be weather-related poor growing conditions.

Netherlands headquartered global life insurance company, annuities provider and pension investment manager Aegon is shuttering its dedicated ILS investment operations and will run-off the current portfolio of risks it had invested in during 2019, we can report.

Jon Hancock, the Lloyd’s of London insurance and reinsurance market’s Performance Management Director is to step down in 2020 with no replacement for his position currently named.

There is now just a few weeks to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020. Here’s our latest update on speakers, our updated agenda and more details on who you can meet on the day.

Offshore business focused law firm Carey Olsen has announced the hiring of Michael Frith in Bermuda, a lawyer that is experienced in advising on and assisting with ILS, catastrophe bond and collateralized reinsurance transactions.

Demotech, Inc. has issued a warning that some Florida insurance carriers are facing serious challenges, with a number expected to be downgraded, while others could enter run-off if they cannot successfully negotiate a way forwards or attract the necessary capital.

CCR Re, the French state-owned reinsurance firm, has renewed its innovative collateralised reinsurance sidecar transaction 157 Re for 2020, we can report.

We’ve announced the date for our fifth insurance-linked securities (ILS) conference for Asia and the surrounding region. ILS Asia 2020 will be held in Singapore on July 9th 2020. Please save the date and register here to be alerted when tickets go on sale.