Collateralized reinsurance news

At the upcoming key January reinsurance renewal period, where many of the world’s major reinsurance program terms, conditions and prices are renegotiated and renewed, prices may decline by more than -10%, according to broker Guy Carpenter.

Kiskadee Investment Managers, the insurance-linked securities (ILS) and reinsurance linked investment strategies unit of Hiscox Re, has made a number of appointments as it builds out its team for the next phase of growth.

Insurance industry losses from wildfires in California have hit $1.15 billion in September, with economic losses above $2 billion, and the figure will rise as the season peaks, according to analysis from reinsurance broker Aon Benfield’s Impact Forecasting unit.

The Arkansas Teacher Retirement System, a state pension fund established to provide retirement solutions to Arkansas education professionals, has made a $75m allocation to a reinsurance-linked ILS fund managed by Aeolus Capital Management.

Hurricane Joaquin became a Category 4 storm late yesterday and continues to batter the Bahamas with sustained winds of up to 130mph, a storm surge and extreme rainfall. The forecast track has continued to shift further east, but the threat of a major rainfall and flooding event in U.S. eastern states remains.

Willis, the global insurance and reinsurance broker and advisor, has established a new protected cell company (PCC) named Encore in Vermont, which its says is open to hosting and facilitating insurance-linked securities (ILS) transactions.

Category 3 hurricane Joaquin has intensified a little further, with sustained winds now 125mph at 11am EDT, 3pm UTC. Joaquin is a severe threat to the Bahamas, currently passing over some of the islands and poses a landfall threat to the U.S. either later this weekend or early next week, but with the forecast track […]

A number of Floridian primary property and casualty insurance firms are expanding, as they seek to begin operating in new wind exposed states of the U.S., both to acquire new business and also to diversify their exposure away from the peak zone.

The third insurance industry loss estimate for European windstorms Mike & Niklas has been released this morning by PERILS AG and it sees the estimate reduced by almost 8% to €826m, taking it below the initial loss estimate.

Typhoon Dujuan is currently a strong category 4 storm which is on the verge of achieving super typhoon status and is forecast to make a direct hit on Taiwan late Monday local-time as a strong category 3 storm.