Insurance linked securities news, ILS news

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, recognised higher fee income from its work with third-party investors, or so-called strategic capital partners, during the first-quarter of 2024, with higher premiums ceded to partners as well.

Assets under management at Hiscox ILS, the dedicated insurance-linked securities (ILS) unit of the Hiscox Group, slipped to $1.5 billion at April 1st 2024, as planned outflows continued to facilitate investor liquidity, but this was offset by capital raised into the firm’s new reinsurance sidecar and other ILS funds.

Revenues earned through the Nephila Capital insurance-linked securities (ILS) investment management business by owner Markel almost doubled in the first-quarter of 2024, while Nephila Capital’s assets under management (AUM) were stable for the period.

For Bermuda based reinsurance company and third-party capital manager RenaissanceRe, the fee income earned from its joint-venture and insurance-linked securities (ILS) operations has become a significant contributor to earnings and the second-quarter is expected to see these fees rise by around 23% year-on-year, its leadership said today.

Canopius Reinsurance (Canopius Re), the dedicated reinsurance arm of specialty re/insurance underwriter the Canopius Group, has announced the hiring of a new CUO and CFO in Bermuda, as it looks to build-out a team tasked with expanding its reinsurance capacity, part of which will come from third-party investors.

When Ark Insurance sponsored a renewal of its $250 million collateralized reinsurance sidecar Outrigger Re Ltd. for the 2024 calendar year, one of the third-party investors that renewed its stake in the vehicle was the Enstar owned reinsurance company Cavello Bay.

The Government of Mexico has now secured $175 million of parametric Pacific named storm disaster insurance protection from the capital markets through the IBRD CAR Mexico 2024 (Pacific) catastrophe bond issuance, which is 40% more than the initial target for this tranche of notes and will take Mexico’s overall cat bond cover to $595 million, […]

Arch Capital has recognised higher contingent commissions thanks to the performance of property catastrophe reinsurance business written for third-party capital providers, according to the firm’s CFO Francois Morin.

RenaissanceRe, the Bermuda based reinsurance and third-party capital management specialist, raised almost $566 million of third-party capital in the first-quarter of 2024, to further expand its range of ILS funds and reinsurance joint-venture vehicles, while the fee income earned by this business soared 87% in the quarter.

Today we are delighted to announce the first wave of speakers for our next catastrophe bond and insurance-linked securities (ILS) market conference, ILS Asia 2024, which takes place on July 11th at the Suntec Convention Centre in Singapore.