Insurance linked securities news, ILS news

Speaking during the RenaissanceRe third-quarter earnings call today, the CFO of the reinsurer said that while management fees from its third-party and ILS capital management business are expected to come in around the same level in the fourth-quarter, the effects of hurricane Milton will dent performance fees.

NN Group, or Nationale-Nederlanden, has now successfully secured its targeted €75 million of collateralised reinsurance from the new Orange Capital Re DAC (Series 2024-1) catastrophe bond issuance, with the notes pricing around 11% below the initial guidance mid-point.

Talanx AG, the German insurance and reinsurance group, has entered the catastrophe bond market for its debut transaction, seeking $100 million or more in parametric Latin America earthquake protection through this Maschpark Re Ltd. (Series 2024-1) issuance, Artemis has learned.

Recognising that regulations hinder access to alternative reinsurance solutions including insurance-linked securities (ILS) in the country, the Australian Prudential Regulation Authority is consulting with industry, as participants there want easier access to solutions such as catastrophe bonds.

Reflecting strong performance across the RenaissanceRe business and its platform of reinsurance joint-venture vehicles and insurance-linked securities (ILS) funds, the company has reported delivering a significant $450.2 million to third-party investors in the third-quarter, while the fee income it earned was up more than 27%.

Hiscox ILS, the dedicated insurance-linked securities (ILS) management arm of the global re/insurer, saw its ILS assets under management (AUM) recover back to $1.5 billion in the third-quarter of the year and the company is seeing growing interest from investors.

White Mountains has reported that its investment into the Outrigger Re collateralized reinsurance sidecar, that supports its re/insurer subsidiary Ark, generated lower income year-on-year in Q3 with catastrophe losses higher, but it still remained very profitable with a combined ratio of just 58%.

Chard Re, a reinsurance-linked investment manager run by well-known industry executives Rick Montgomerie and Charlie Vaughan, has promoted team member William (Bill) Orendorf to the role of Chief Underwriting Officer (CUO).

With Beazley reporting nine-month results today, CEO Adrian Cox explained during an analyst call that the company saw an opportunity this summer to bulk-up its cyber protection through industry-loss warranty (ILW) arrangements and PoleStar Re catastrophe bonds.

Enstar, the legacy and run-off reinsurance specialist, has announced completion of its second legacy transaction focused on property insurance-linked securities (ILS), acquiring a Bermuda based Class 3B reinsurer that underwrote business on behalf of third-party investors.