Collateralized reinsurance news

The January 2020 reinsurance renewals saw significant variation in market conditions and rates, as capital remained plentiful to help ceding companies secure their coverage requirements, but volatility in areas led to differing outcomes, according to Hyperion X.

The January 1st 2020 reinsurance renewal saw markets diverge, leading to wide variances in pricing and capacity across geographies and lines, while judicious reinsurers applied greater importance on relationships.

Investment management giant PIMCO (Pacific Investment Management Company LLC) believes catastrophe bonds can be an ESG (environmental, social and corporate governance) appropriate investment, adding them as fixed income assets two of its new funds are able to allocate to.

AXIS Capital, the global specialist re/insurer headquartered in Bermuda, has issued a first tranche of notes from its collateralised reinsurance sidecar vehicle Alturas Re Ltd. for 2020, sponsoring a $64.14 million issuance to expand on the collateralised quota share arrangement.

Insurance and reinsurance companies in Bermuda have been using increasing amounts of reinsurance, in particular property catastrophe, quota shares and property per risk contracts.

A number of insurance-linked securities (ILS) fund managers have adjusted their Japanese typhoon Hagibis loss reserves or side pockets in November, resulting in some positive and negative movements, we understand.

As year-end approaches, there isn’t long to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020. This is our latest speaker announcement. Please register soon to secure your ticket to attend.

The General Insurance Association of Japan (GIAJ) has updated its numbers on recent catastrophes, now saying that domestic insurers in the country have paid out US $6.83 billion in claims for typhoon Faxai, typhoon Hagibis and a heavy rainfall event that closely followed these storms.

Specialty re/insurer Brit’s collateralised reinsurance fund platform, Sussex Capital, is receiving good support and increased allocations ahead of the January 1st renewals, with the firm dedicated to building and expanding on the Diversified Fund, according to Jon Sullivan and Mark Allan.

Global reinsurance firm Munich Re is in the midst of issuing its collateralised reinsurance sidecar arrangements for 2020, with the first $54.6 million tranche of Eden Re II Ltd. Series 2020-1 notes and the first slice of a Leo Re Ltd. 2020-1 private sidecar arrangement for Dutch pension fund investor PGGM.