Insurance linked securities news, ILS news

Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of former Hudson Structured Capital Management (HSCM) employee Jacqueline Muschett to the role of Managing Director, Head of Actuarial & Valuations.

The net profitability gap between Bermuda and non-Bermuda incorporated companies may narrow over time given the expected passage of the OECD-driven multilateral agreement to establish a 15% global minimum tax rate, according to Fitch Ratings.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, has now been sold to European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited.

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension investment providers, has added to its insurance and reinsurance linked investments again in the last year, with a doubling of its allocation to investment manager Elementum Advisors, seemingly all in catastrophe bonds.

Mortgage insurance group NMI Holdings, Inc. has returned to the capital markets to sponsor its second mortgage insurance-linked notes issuance of the year, targeting an almost $364 million source of collateralised mortgage reinsurance with an Oaktown Re VII Ltd. transaction.

Beazley has now received in principle approval from Lloyd’s to establish its planned ESG focused consortium that will sit under its Market Facilities unit and leverage some third-party capital to underwrite risks that have been scored against environmental, social and governance (ESG) metrics.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, is being sold to a run-off specialist, with the deal expected to complete imminently.

Electrical utility Sempra Energy looks set to secure its third slice of catastrophe bond backed wildfire insurance protection at the minimum targeted issuance size of $180 million, while pricing for its new SD Re Ltd. (Series 2021-1) transaction is on-track to settle at the mid-point of guidance.

Here are the ten most popular news articles, week ending October 17th 2021, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Florida’s homeowners insurance market is experiencing “unsutainable” conditions and the consistency of loss across the marketplace is seen as “staggering”, according to the CEO of Florida’s Citizens Property Insurance Corporation Barry Gilway.