Hannover Re made an additional recovery from its pandemic retrocession arrangement in the third-quarter of 2022, as the long-standing capital markets backed mortality swap continued to demonstrate its value for the firm.Read the full article
Covid-19 news, analysis and information of relevance to the insurance-linked securities (ILS), catastrophe bond and reinsurance capital markets.
The Covid-19 coronavirus 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.
RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has made some changes at the top, promoting David Marra to Group Chief Underwriting Officer, while Ross Curtis moves into the new role of Chief Portfolio Officer.Read the full article
Two of Australia’s largest insurers have both slashed their reserve provisions for business interruption claims from the COVID-19 pandemic after last week’s test case ruling.Read the full article
The second test case in the High Court of Australia regarding the interpretation of policy wordings in business interruption policies after the COVID-19 pandemic, has been resolved in favour of insurers after appeals were denied, a move that has positive implications for the release of some trapped ILS capital, we’re told.Read the full article
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.Read the full article
Hannover Re benefited from an increased recovery under its long-standing capital markets backed mortality swap arrangement by the end of the first-half of 2022, with the financial benefit from the retro hedge reaching EUR 88 million by the end of the period.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.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.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%.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.Read the full article