Insurance linked securities news, ILS news

While the momentum behind rate firming in reinsurance has continued to fade so far this year, the direction of travel has been positive and better margins are ahead for the reinsurance sector, according to Fitch Ratings.

Having announced this morning that a proposal has been made to investors to speed the running-off and return of capital of the Markel CATCo retrocessional reinsurance investment funds, the half-year report of the manager’s public fund suggests further wildfire subrogation related recoveries are possible.

China’s insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks.

Reinsurance companies that are actively managing third-party capital in insurance-linked securities (ILS) vehicles are some of the best positioned to take advantage of the current favourable underwriting conditions, according to Moody’s Insurance Credit Analyst, Helena Kingsley-Tomkins.

A new proposal from Markel CATCo Investment Management and Markel Corporation seeks to speed the return of capital from the CATCo retrocessional reinsurance investment funds to investors, while avoiding any complications to the ongoing running-off from legal claims made.

Here are the ten most popular news articles, week ending September 26th 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.

The retrocession market failed to harden as hoped for through 2021, with in some cases rapid and material declines in pricing seen, especially in industry loss warranty’s (ILWs’), according to Guy Carpenter’s Sebastian Cook.

Analysis from S&P Global Ratings suggests that reinsurance firms may be underestimating their natural catastrophe exposures by anywhere from 33% to as much as 50%, as they grapple with incorporating climate change into their decision-making process.

The upward trajectory of rates on line will continue at the January 1st 2022 reinsurance renewals, including European accounts hit by losses this year, according to Sven Althoff, executive board member at Hannover Re.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives and one of the world’s largest buyers of catastrophe reinsurance protection, has now successfully secured its largest slice of catastrophe bond protection ever, as its new  Nakama Re Pte. Ltd. (Series 2021-1) issuance achieved the top-end target of $775 million, we’re told.