Collateralized reinsurance news

The pace of rate hardening in the U.S. property insurance marketplace has accelerated and this firming trend is expected to continue, with the availability of capacity from the ILS market seen as one factor influencing it, according to AmWINS.

Insurance-linked securities (ILS) and catastrophe bond activity is expected to gradually accelerate in the Asia region, providing investor interest in the ILS asset class remains strong, according to Fitch Ratings.

The utilisation of insurance-linked securities (ILS) structures and capacity for exotic, or man-made risks remains small, but as the world continues to evolve and new risks increasingly emerge, these types of exposures might turn out to be not so exotic after all, according to John Seo, Co-founder and Managing Director of Fermat Capital.

Typhoon Jebi’s impacts on the global insurance and reinsurance market is already above the 1-in-40-year loss level, according to estimates from S&P Global Ratings, who also warn that further material developments cannot be ruled out.

Hamilton Insurance Group, Ltd. has announced the hiring of well-known reinsurance investment banking executive Tony Ursano as the firms new Group CFO, as incumbent Jonathan Reiss takes on a new role giving him oversight of third-party capital activities.

The Florida Hurricane Catastrophe Fund (FHCF) has renewed its reinsurance program at a slightly smaller size of $920 million, but with flat pricing and insurance-linked securities (ILS) players taking a slightly larger share in 2019.

Bermuda headquartered insurance and reinsurance firm AXIS Capital Holdings Limited has lifted the amount of third-party capital assets under its management to a new high at $2.1 billion.

Having proved correct in forecasting that El Niño conditions would weaken and transition to ENSO neutral by peak hurricane season this year, Climate Forecast Applications Network (CFAN) has now raised its forecast for the 2019 Atlantic hurricane season, now expecting 8 hurricanes to form.

The rising insurance and reinsurance industry loss from 2018’s typhoon Jebi in Japan has caused what some are privately terming chaos in the industry-loss warranty (ILW) market, as two widely used but unofficial trigger data sources still show estimates at below $10 billion.

The North Yorkshire Pension Fund, a pension scheme for council and local government workers in the Yorkshire region of the United Kingdom, increased its allocation to insurance-linked securities (ILS) funds under the management of Leadenhall.