Coronavirus news

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.

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.

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.

According to Artemis’ sources, the issuance of a $100 million mortality catastrophe bond, sponsored by Securian Financial Group life insurance subsidiary, Minnesota Life Insurance Company, has now been cancelled after investor feedback related to concerns over COVID-19 pandemic related exposure.

Assets under management at American International Group’s (AIG) insurance-linked securities and collateralized reinsurance dedicated ILS investment manager entity, AlphaCat Managers, have fallen to $3.5 billion by the end of the third-quarter, with some effects from the quarters catastrophes clear in its reporting.

Paul Gregory, the Group Chief Underwriting Officer of specialty insurance and reinsurance group Lancashire Holdings, is stepping in to become interim CEO of the firms Lancashire Capital Management unit, as Darren Redhead will depart the firm in 2022.

Specialty insurance and reinsurance group Lancashire Holdings reported that its property and casualty reinsurance book grew by 85% across the first nine-months of 2021, as the company deployed more capital and took advantage of a stronger rate environment.

Retrocessional reinsurance focused ILS investment funds and strategies could find as much as 70% to 80% of their capital trapped or lost after the challenging catastrophes of 2021, according to RenaissanceRe’s CEO Kevin O’Donnell.

Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of former Hudson Structured Capital Management (HSCM) employee Jacqueline Muschett to the role of Managing Director, Head of Actuarial & Valuations.

Welcome to Artemis’ sixth Bermuda-focused insurance-linked securities (ILS) executive roundtable, held virtually for the second year in a row owing to ongoing pandemic-related restrictions.