Collateralized reinsurance news

Investors in mutual insurance-linked securities (ILS) fund strategies operated by Stone Ridge Asset Management, the New York based asset manager with an alternative risk premia focus, will be delighted so far in 2023, as returns accelerate and reach over 40% year-to-date in the Stone Ridge interval ILS fund strategy.

Vesttoo, the insurtech at the centre of an international reinsurance letter of credit (LOC) fraud investigation, is set to remain in Chapter 11 bankruptcy, after the court denied a motion from the US Trustee to convert the case to Chapter 7 so a liquidation could be accelerated.

During the third-quarter of 2023, US headquartered insurance holding company W. R. Berkley Corporation continued to expand the subject business funded by its Lifson Re collateralized reinsurance sidecar vehicle, ceding additional premium to the structure.

Vesttoo is now insisting that there is value recoverable in some reinsurance transactions that were “bona fide”, while at the same time both Vesttoo as the debtor and the creditor committee in the Chapter 11 bankruptcy case, have objected to the US Trustees move to convert that case to a Chapter 7 focused on a […]

According to Hiscox Group’s interim statement this morning, the firm’s insurance-linked securities (ILS) fund management unit, Hiscox ILS, has delivered record fund performance so far in 2023, while maintaining stable assets under management (AUM) in the third-quarter.

Nephila Capital, the insurance-linked securities (ILS) asset manager owned by Markel, has effectively cleaned up its legacy reserves and eliminated trapped capital for its investors, through an arrangement entered into with the help of an adverse development cover (ADC) from its parent.

K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, has raised its conviction on investing into insurance-linked securities (ILS) and reinsurance investments to “strongly overweight” saying it anticipates firm pricing conditions and despite some spread tightening in catastrophe bonds the yields remain attractive.

Nascent Group, an insurance management and reinsurance transformer company launched to reimagine the insurance-linked securities (ILS) servicing space, has announced the hire of Warren De Klerk to lead its catastrophe bond administration activities.

There is evidence from the third-quarter 2023 results of White Mountains that its re/insurer subsidiary Ark is starting to see increasingly significant benefits delivered by the $250 million Outrigger Re collateralized reinsurance sidecar that it launched at the end of 2022.

In what looks to be a positive sign for its third-party investors, the Mt. Logan Re collateralized sidecar vehicle has been accepting increased levels of reinsurance premiums in 2023, while losses ceded to it by parent Everest Group are down considerably.