Coronavirus news, analysis and information of relevance to the insurance-linked securities (ILS), catastrophe bond and reinsurance capital markets.
The coronavirus Covid-19 outbreak of 2019/20 caused significant disruption and threatened losses across insurance and reinsurance markets, with some ramifications for ILS and cat bond investors and sponsors as well.
Insurance-linked securities (ILS) fund managers have been working to free trapped capital related to possible COVID pandemic related losses in European reinsurance contracts, with commutations being pursued, AM Best has reported. In a wide-ranging ILS market report from the rating agency, one of the most interesting insights is that AM Best read the full article →
France headquartered global reinsurance firm SCOR said this morning that its successfully issued $240 million Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond has environmental, social and governance (ESG) considerations integrated into it. As we've been reporting, SCOR came to market with its latest catastrophe bond with a $150 million read the full article →
Global reinsurance company SCOR has now secured $240 million of retrocessional catastrophe protection from its new Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond, Artemis can reveal. The reinsurer has been in the market with its latest catastrophe bond since earlier this month, with its latest Atlas insurance-linked securities (ILS) read the full article →
France headquartered global reinsurance company SCOR has raised the target size for its new Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond to as much as $250 million, while the price guidance has been raised almost 12%. SCOR is seeking a new capital markets source of aggregate international multi-peril retrocessional read the full article →
RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, saw its external capital under management rise to $6.8 billion by April, helped by the launch of its Fontana Holdings casualty / specialty lines joint venture and some other additional fund raising. At January 1st 2022, RenaissanceRe (RenRe) reported its third-party read the full article →
France headquartered global reinsurance company SCOR is back in the capital markets with a new Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond through which it is seeking at least $150 million of international multi-peril retrocessional protection. SCOR sponsored its last catastrophe bond in 2020, securing $200 million of US read the full article →
Managers of insurance-linked securities (ILS) funds and other strategies are pushing back on what is seen as still excessive trapping of capital linked to COVID-19 related claims, as confidence rises that the eventual impacts of this will be relatively limited for the ILS market. Back in 2020, as the COVID-19 coronavirus read the full article →
Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of Alaina Cubbon as a Vice President, Portfolio Management, in the firm's Bermuda based Investment Team. In her new role at ILS manager Elementum Advisors, Cubbon will be focused on portfolio construction and underwriting read the full article →
Capacity to support parametric pandemic risk transfer and insurance is expected to remain limited in the United States, according to broker Willis Towers Watson, but pricing has been on the rise. The company explained that capacity for parametric insurance solutions to cover pandemic related commercial risks, such as loss of earnings, read the full article →
Carrie Lam, Chief Executive of the Government of Hong Kong, sees "enormous potential" for catastrophe bonds and insurance-linked securities (ILS) to provide important disaster risk capital to underpin risks in the Greater Bay Area. The Greater Bay Area, also known as the Guangdong - Hong Kong - Macau Greater Bay Area, read the full article →