News and articles about collateralized reinsurance transactions and collateralised reinsurance market trends.
Collateralised reinsurance simply refers to any fully-collateralised reinsurance transaction, be that securitised or not.
Collateralized reinsurance allows ILS funds, hedge funds, pension funds and unrated, third-party capitalised reinsurance vehicles to participate in major reinsurance programs as the contracts they write are fully-collateralised.
The collateral is put up by investors or third-party capital providers to cover in full the potential claims that could arise from the reinsurance contract.
Normally the collateral posted is equal to the full reinsurance contract limit, minus the net premiums charged for the protection.
Swiss-headquartered fintech Cerchia is making progress as it looks to raise around US $200 million from investors and lenders for deployment to a new ILW structure that it believes can help reduce the risk of trapped capital.
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The retrocession program of global reinsurance giant Munich Re has shrunk slightly for 2023 as the company navigated the challenging market environment, while still securing $513 million of collateralised capacity for its quota share sidecar vehicles.
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Third-party capital investors allocated to specialty insurance and reinsurance player Brit Ltd’s collateralised reinsurance underwriting vehicle and ILS fund brand Sussex Capital appear to have profited in 2022, as the company delivered positive income to them for the year.
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The private insurance-linked securities (ILS) sub-sector is an important part of a marketplace that is no longer niche, and while there’s been bumps along the way, innovations enabled the collateralised reinsurance space to grow organically to meet the needs of both buyers and sellers, according to industry experts.
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Catastrophe bonds and insurance-linked securities (ILS) offer investors a compelling entry or reinforcement point right now, given the asset classes inherent features and higher spreads, but it’s still important to be selective, according to Francois Divet, Head of ILS at AXA IM Alts.
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AlphaCat Managers, the insurance-linked securities (ILS) and collateralized reinsurance investment manager operated by global insurance giant AIG, maintained a stable level of assets under management (AuM) at $3.3 billion at the end of 2022, while there are also signs of some recovery after hurricane Ian.
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The insurance-linked securities (ILS) and reinsurance market environment in 2023 will continue to favour the catastrophe bond product, with this industry segment expected to see a “disproportionate share of inflows”, Bill Dubinsky, CEO of Gallagher Securities told Artemis.
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The staff of the Texas Windstorm Insurance Association (TWIA) are working with reinsurance broker Gallagher Re and its capital markets unit Gallagher Securities, to reset its existing $700 million of catastrophe bonds, renew a soon to mature $400 million cat bond deal, and begin discussions with reinsurers about its renewal needs.
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Artemis has learned that international specialty insurance and reinsurance group Chaucer plc, part of the China Re group of companies, has successfully placed a renewal of its Thopas Re fully-collateralized reinsurance sidecar structure for 2023.
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On Friday February 10th, more than 380 attendees at our annual ILS NYC 2023 conference in New York heard industry expert speakers explaining the significant potential for the catastrophe bond and ILS market to reach new heights this year and beyond.
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