ILS funds news, insurance linked securities or ILS fund news

Artemis understand that there are a number of new efforts to use the UK’s ILS regulatory regime underway, with a range of transactions mooted and being explored or actively worked on currently. At the same time the UK regulator has noted the importance of ILS to the UK’s competitiveness.

We are now able to confirm that investment bank Credit Suisse is the ultimate beneficiary of the collateralised coverage offered by the recently completed CHF 146 million Operational Re II Ltd. insurance-linked securities (ILS) or catastrophe bond like arrangement that transfers operational risk exposure to the capital markets.

Reflecting the hurricane Irma related loss creep experienced by insurance-linked securities (ILS) funds and reinsurance vehicles, the regulator in Florida has reported a 13% rise in total insured losses from claims reported to more than $9.7 billion.

The United States Federal Emergency Management Agency (FEMA) could be mandated to purchase much more in the way of risk transfer if a bill that aims to get FEMA buying insurance, reinsurance and capital markets risk transfer tools to provide disaster relief financing comes into law.

Asset manager Oppenheimer is expanding its insurance-linked securities (ILS) and reinsurance linked investment offering with the launch of its first strategy that invests across the ILS instrument spectrum, beyond just catastrophe bonds, an interval mutual fund structure named the Oppenheimer ILS Interval Fund.

Price Forbes, the independent global wholesale insurance brokerage, is now entering the reinsurance broking space, with the set-up and launch of Price Forbes Risk Solutions Ltd., with which it aims to expand its expertise and reach.

A new operational risk catastrophe bond, Operational Re II Ltd., an insurance-linked securities (ILS) or cat bond like arrangement transferring operational risk exposure to the capital markets, has been successfully completed at a size of CHF 146 million (approx US $148m).

We’re delighted to announce the full agenda for the upcoming third instalment of our annual insurance-linked securities (ILS) conference in Asia, ILS Asia 2018, today. With tickets selling fast make sure you register soon to guarantee your place at the event.

The catastrophe bond and related insurance-linked security (ILS) assets under management in the fund portfolios of investment manager OFI Global, a company of Oppenheimer, have risen slightly in the last year, but the impact and ramifications of 2017’s major catastrophe losses are still being realised.

The way the reinsurance industry raises capital after a major loss has changed completely over the last decade, as the rapid entry of ILS capital after a catastrophe event is now an “established trend”, according to David Flandro, of JLT Re.