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Fuchsia Capital PCC registered for UK ILS, understood to be for Beazley

A third protected cell company has been registered and authorised under the UK's Risk Transformation Regulations 2017, Artemis has learned. Fuchsia Capital PCC Ltd. is lined up for use as a UK insurance-linked securities (ILS) vehicle, with the sponsor said to be re/insurer Beazley.Specialist Lloyd’s focused insurance and reinsurance player read the full article →

Beazley’s third-party capital backed Smart Tracker to hit $133m for 2019

Specialist Lloyd’s focused insurance and reinsurance player Beazley is set to expand the size of its innovative Smart Tracker product to a stamp capacity of US $133 million for 2019, signaling demand for the product which sits as part of special purpose arrangement (SPA) syndicate 5623.The Beazley Smart Tracker product read the full article →

Beazley’s SPA 5623 to give investors diverse risks, including liability

Lloyd’s specialist insurance and reinsurance player Beazley's special purpose arrangement (SPA) syndicate 5623 is set to offer its third-party investor backers access to a broad and diverse range of risks, with the facilities access likely to mean risks in the portfolio that typical ILS funds or strategies do not underwrite.Beazley read the full article →

Pricing in line with expectation, despite market “awash with capital” – Beazley CEO

Beazley said this morning that it saw the rate increases achieved so far this year as in line with expectations, despite the market being "awash with capital" and while also noting that "non-traditional capital providers... maintained their commitment to the market."The specialist Lloyd’s fof London focused insurance and reinsurance firm read the full article →

Aon’s portfolio broking & facilities business open to ILS markets

Aon's newly formed Global Portfolio Broking team, part of the Aon Reinsurance Solutions business, will look to the capital markets and ILS funds as sources of capacity where appropriate for backing facilities business and portfolios of risks.Andrew Matson has been named as the leader of Aon’s newly formed Global Portfolio read the full article →

Beazley explores UK ILS, aims for third-party backed facilities SPA growth

Specialist Lloyd's focused insurance and reinsurance player Beazley is actively exploring the use of more insurance-linked securities (ILS) capital within its business, as well as the UK ILS regulations, as it examines the potential for an ILS structure to sit alongside its reinsurance arrangements.The Beazley team is revisiting the potential read the full article →

Beazley to channel facilities business via SPA 5623 to third-party capital

Lloyd's specialist insurance and reinsurance player Beazley is planning to launch a new special purpose arrangement (SPA) syndicate 5623, which will take a quota share of the firm's business underwritten from broker facilities and be backed by a range of third-party investors, including some capital from the ILS market.Matching risks read the full article →

Vanuatu paid $1.9m for cyclone Pam from Pacific catastrophe facility

The World Bank supported Pacific Catastrophe Risk Insurance Pilot has paid Vanuatu $1.9m after the risk pooling facility was triggered by Category 5 Cyclone Pam which struck the Pacific island nation on March 13th.Demonstrating the important role that parametric triggers play in effecting rapid insurance payouts after disaster strike, the read the full article →

Cyclone Pam may trigger Pacific Catastrophe Risk Insurance Pilot

The parametric Pacific Island catastrophe risk insurance and reinsurance pooling initiative, the Pacific Catastrophe Risk Insurance Pilot, may have been triggered by Cyclone Pam which made a direct hit on Vanuatu as a strong Category 5 storm.Update: The World Bank explained in a statement made on the 15th March:Given the read the full article →

Parametric Pacific Catastrophe Risk Insurance Pilot renews for third season

The Governments of Samoa, Tonga, Cook Islands, Vanuatu and the Marshall Islands have called for an extension to the Pacific Catastrophe Risk Insurance Pilot (PCRIP), which was renewed for its third term on November 1st 2014.The scheme was launched through a combined effort from the Japanese Government, the World Bank, read the full article →