Collateralized reinsurance news

Florida headquartered primary insurer Universal Insurance Holdings has successfully completed the placement of its 2018-2019 reinsurance program, which extends the top of its tower to $3 billion of coverage, while adding more multi-year protection as well.

Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, has announced the launch of a third-party capital arm named Hamilton Capital Partners and has hired ILS sector specialist Brenton Slade from Horseshoe as Senior Vice President for the new unit.

Christopher Schaper, the Chief Executive Officer (CEO) of the Schinnerer Group, the underwriting manager and managing general agent arm of broker Marsh, believes that were 2018 to be another costly catastrophe year for the alternative capital space, it’s still unlikely capacity would flee the sector.

Loss creep from hurricane Irma continues to impact the insurance and reinsurance linked funds industry, as some ILS funds and collateralized reinsurance vehicles are recording negative performance once again for April, leading to divergent performance across the sector.

The Panthera Re Limited Bermuda registered special purpose insurance vehicle has been revealed as belonging to TigerRisk Capital Markets & Advisory (TCMA) and will be used to help its clients access the capital markets and insurance-linked securities (ILS) investors.

Australia and New Zealand homeowner and motor insurer Youi is returning to the capital markets for the fourth year in succession, as it seeks a 2018 renewal for its now regular collateralized reinsurance note placement, again with the help of Rewire Holdings and Horseshoe Re, we understand.

Reinsurance broker Guy Carpenter has hired Richard Carver from Aon as a new Managing Director and Senior Broker in the firm’s UK non-marine division, adding new expertise across both property and casualty classes of reinsurance business.

The owner of private equity backed international insurance and reinsurance broker RFIB Group Ltd. is rebranding to Risk Transfer Group (RTG), as part of a strategy to double revenues in three years, to include setting up a Guernsey protected cell company (PCC) and recognising that combining InsurTech and the capital markets is a significant opportunity.

A recent outbreak of severe convective storm weather, so featuring tornadoes, severe thunderstorms, large hail and strong winds, which has been dubbed the “Ring of Fire” is expected to result in insurance and reinsurance industry losses of $2.5 billion, by catastrophe modellers Karen Clark & Company.

RKH Reinsurance Brokers, part of the global Hyperion Group, is hiring Nick Griffiths from RFIB to join the firms’ reinsurance broking practice, bringing them experience in transacting with alternative and ILS markets.