Industry loss warranty news

Some shareholders in the CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, have benefited from a reduction in claims related to California’s 2017 wildfires, perhaps suggesting a subrogation recovery has made its way through to the portfolio.

Our readers forecast more than $12 billion of catastrophe bond issuance in 2021, which would see the market setting a new record. But in terms of which area of insurance-linked securities (ILS) is likely to grow fastest, the collateralized reinsurance market is forecast to outpace cat bond market growth this year.

Akinova, a company that has created a platform for the transfer and trading of insurance and reinsurance risks, has become the first to receive an Insurance Marketplace Provider licence in Bermuda.

We spoke with Tom Johansmeyer, Head of PCS, today, to discuss the rioting and civil disturbance seen at the US Capitol buildings on January 6th 2021.

City National Rochdale’s largely industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund increased its total net assets under management to $147.8 million by the end of October 2020, an increase of 13% in the quarter.

The latest catastrophe risk stress testing analysis by the Bermuda Monetary Authority (BMA), of its property and casualty insurance and reinsurance market, shows up some interesting trends in the use of specific types of hedging, reinsurance and retrocession arrangements.

Global reinsurance firm Munich Re has lifted its estimate for insurance industry losses from 2018’s Japanese typhoon Jebi to $13 billion, which we understand could put a handful of still-exposed industry loss trigger contracts such as ILW’s in play.

Turker Re, a Lloyd’s broker with a significant insurance and reinsurance broking footprint in the Turkish marketplace and surrounding region, has launched a new product offering of a Turkey earthquake industry loss warranty (ILW) as the first under a new Capital Solutions unit.

The CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, has successfully secured another release of trapped capital which will be returned to its investors.

Conduit Re, the pure reinsurance start-up looking to raise $1.1 billion with a London Stock Exchange listing and launch in Bermuda, has had an early signal of approval from rating agency AM Best, which has given the company an all-important preliminary A- rating.