Insurance-linked investments

Results announced this morning by global reinsurance firm SCOR confirm the loss creep trend we’re expecting to see from Japanese typhoons Jebi and Trami, as the company revealed a EUR 53 million hit to profits.

Horseshoe Group has appointed employee Fred LeMoine to the role of Head of Insurance Management, succeeding one of the original co-founders of the firm, Nigel Godfrey, who is set to retire.

Markel CATCo Investment Management is committed to the delivery of its 2019 portfolio to shareholders in its listed retrocessional reinsurance fund strategy, signalling an intention to trade forwards once loss affected portfolios are dealt with.

Elementum Advisors, LLC, an insurance and reinsurance linked asset manager with over $4 billion of assets under management, is selling a 30% stake to insurance and financial services group White Mountains.

Discussions on the use of insurance, reinsurance and capital market products for disaster risk financing are rising up the agendas of international meetings focused on the Asia-Pacific region.

Arch Capital Group Ltd. is returning to the capital markets for its second mortgage insurance-linked securities (ILS) transaction of 2019, a $621 million Bellemeade Re 2019-2 Ltd. transaction.

Nephila Capital, the largest insurance and reinsurance linked investment manager, nearly doubled the amount of premiums underwritten through its Lloyd’s of London Syndicate 2357 in full-year 2018.

Rob Procter, the co-founder of Securis Investment Partners, the independent London-headquartered insurance and reinsurance linked investment manager, has been assigned to the advisory board of Akinova, having also made an investment in the start-up.

After an internal review conducted by outside legal counsel was completed, Markel Corporation says that the review found no evidence of “bad faith in exercising business judgment” by Markel CATCo personnel when it came to setting loss reserves in late 2017 and early 2018.

Radian Guaranty has now completed its second issuance of mortgage insurance-linked securities (ILS), citing a pleasing response from investors to its $562 million Eagle Re 2019-1 Ltd. that secures it additional reinsurance capacity from the capital markets.