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Hannover Re expanded ILS, risk transformation & fronting activities in 2018

In reporting its results this morning, global reinsurance firm Hannover Re has revealed significant growth in its insurance-linked securities (ILS) related activities, particularly in risk transformation and fronting for collateralised reinsurance.Hannover Re has become increasingly involved in the ILS market, acting as a conduit for its ceding clients to access read the full article →

Alleghany CEO warns re/insurers not to chase the ILS tail (risk)

Weston Hicks, the President of the Alleghany insurance, reinsurance and investment group, has warned re/insurers that provide fronting and transformation services to the ILS and collateralized market to beware of being left holding the tail risk.Hicks has a record of highlighting any potential issues he sees related to the ILS read the full article →

Usual suspects look to fill fronting gap left by acquisition of TMR

The gap in terms of fronting services for collateralised and ILS markets left by the acquisition of Tokio Millennium Re by Bermudian reinsurer RenaissanceRe is being filled we're told, as the usual suspects look to take on any of that business they find attractive.We've been told that a number of read the full article →

Hannover Re: $1.5bn of 2018 cat bonds generate low-risk margin for reinsurer

German reinsurance giant Hannover Re said today that the approximately $1.5 billion of catastrophe bonds it has facilitated the issuance of for its clients help to deliver low-risk and attractive margins, while attracting new clients and maintaining existing relationships.Hannover Re has become a key facilitator for the catastrophe bond and read the full article →

Hannover Re grows ILS business, capitalising on investor demand

German reinsurance firm Hannover Re continued to grow its use of the capital markets as retrocessionaire and also source of fee income, by expanding its insurance-linked securities (ILS) activities during 2017, an area of the business it sees as growing while meeting cost-of-capital.Hannover Re has been growing its ILS activities read the full article →

State National continues to grow program fronting business

Fronting and program service insurance specialist State National Companies has again increased the volume of business being underwritten through its Program Services division, as it writes an increasing amount of business for reinsurance capital providers, including no doubt for insurance-linked investment fund manager Nephila Capital.State National’s Program Services sees the read the full article →

Markel sees State National as the perfect conduit of risk to capital

Following the announcement from Markel Corporation that it is to acquire State National Companies for $919 million, Markel executives have discussed the benefits the transaction represents, expecting the takeover to deepen its relationship with alternative capital.The acquisition, which is expected to close in the fourth-quarter of 2017 and remains subject read the full article →

Markel acquiring program & fronting specialist State National for $919m

Markel Corporation is set to acquire fronting and program service insurance specialist State National Companies, after the pair just announced an agreement that will see Markel acquiring all of the outstanding shares of State National for a total transaction value of approximately $919 million.State National has grown its business into read the full article →

Hannover Re sees low risk attractive margins from ILS business

Reinsurance firm Hannover Re has continued to expand its activities in the insurance-linked securities (ILS) transformer space, fronting and working with both existing and new clients in recent months, to secure what the company sees as a source of low risk and attractive margins.Major reinsurers increasingly find they can work read the full article →

State National program fronting income rises in Q1 2017

Fronting and program service insurance specialist State National Companies, which provides fronting and program services to insurance-linked investment fund manager Nephila Capital, has again grown its income from fees earned as program premiums increased in the first-quarter of 2017.State National's Program Services unit has been steadily growing its business and read the full article →