ILS funds news, insurance linked securities or ILS fund news

Following conversations with a number of market sources, it seems that the market for industry-loss warranty (ILW) protection has softened year-on-year, following on the heels of the catastrophe bond market as capacity turns its attention to ILW’s in the run up to the renewals.

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle that has a significant amount of backing from insurance-linked securities (ILS) market sources, has reported that its track-record shows it continues to outperform the wider Lloyd’s market.

RenaissanceRe, the global reinsurer and third-party reinsurance capital manager, had raised $132 million of new capital for its largely catastrophe bond focused insurance-linked securities (ILS) fund Medici through April 1st this year.

You can now register for the sixth instalment of our annual insurance-linked securities (ILS) conference for and about the Asia region, so reserve your place at our ILS Asia 2021 event today.

LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager, has had the rating on its Class 3A reinsurance underwriting vehicle Lumen Re affirmed by AM Best.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, has announced the hiring of Sascha Bruns, a retrocession specialist who had previously worked for Hannover Re.

Due to a shift away from commoditisation in the insurance-linked securities (ILS) sector, diversity and innovation are becoming essential, which has increased the need for a higher level of board expertise, according to Ocorian Client Director Sherman Taylor in a recent interview with Artemis.

With the Florida reinsurance renewals fast approaching, it’s interesting to learn that indicative pricing for industry-loss warranty (ILW) protection covering hurricanes affecting the state is up significantly year-on-year, but actual market pricing may be flat or even down. Please read our update at the foot of this article.

The upcoming June 1st reinsurance renewals in Florida are still expected to see broad rate increases of between 5% to 15%, according to our sources, but this is lower than where expectations had been sitting a few months ago.

Leadenhall Capital Partners LLP, the London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager, is backing a new rated reinsurance underwriting platform in Bermuda, with a Class 3A reinsurer Nectaris Re Ltd.