Covid-19 news

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.

Global reinsurance firm Swiss Re reported strong performance across its property and casualty reinsurance business and Corporate Solutions this morning, with group net income of $1.3 billion reported, despite natural catastrophe and man-made losses driving an almost $2.5 billion net impact in the first nine-months of 2021.

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.

French reinsurance company SCOR “kicked itself” for not having renewed its mortality catastrophe bonds in the past, the firms new CEO Laurent Rousseau explained today.

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.

Sompo Global Risk Solutions (GRS), a division of Bermuda-headquartered specialty P&C insurance and reinsurance group Sompo International, has launched a new parametric insurance product to cover epidemic and pandemic risks.

The resurging incidence of cases of COVID-19 across areas of the United States could add pressure to catastrophe insurance and reinsurance market claim processes and amounts, so PCS has undertaken some research on hurricane events to show where the threat is greatest.