Insurance linked securities news, ILS news

When the market is turning and reinsurance rates move in one direction, or another, it tends to be insurance-linked securities (ILS) investors that move first and fastest, according to Cory Anger, Managing Director at GC Securities.

A new US mutual investment fund with a focus on catastrophe bonds and insurance-linked securities (ILS) is set to launch, with the Ambassador Fund, as it is named, set to continue a trend of bringing ILS investment opportunities to a wider range of investors.

While there have been challenges for ILS investors over recent years related to losses from so-called secondary perils and to aggregate structures, the market is expected to continue attracting capital, even to these more recently loss-affected areas, according to Tim Ronda of Aon’s Reinsurance Solutions.

According to a survey undertaken by publisher Pensions & Investments, Markel owned insurance-linked securities (ILS) investment manager Nephila Capital is one of the most institutional hedge fund managers, based on the profile of its end-investors.

Information from sources suggests that some primary insurance carriers are likely to recover significant amounts from their reinsurance arrangements after hurricane Ida, while a number of insurers are likely to exhaust their reinsurance towers completely, and some catastrophe bonds remain exposed.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives and one of the world’s largest buyers of catastrophe reinsurance protection, could secure its largest catastrophe bond ever with its latest issuance, as the top-end target for the  Nakama Re Pte. Ltd. (Series 2021-1) cat bond has now risen to $775 million, we understand.

Tenax Capital, the London based hedge fund  that was founded by its CEO Massimo Figna and offers a UCITS catastrophe bond fund to its investor clients, has hired Toby Pughe from AXA XL as an Insurance-Linked Securities Analyst.

Specialist catastrophe bond, insurance-linked securities (ILS) and reinsurance investment manager Twelve Capital has announced two new hires that bring sustainable and climate investing expertise to the company.

Acrisure Re, the reinsurance broking unit of the Acrisure group, has announced a key hire of relevance to the insurance-linked securities (ILS) market, appointing former BTG Pactual partner, Nick Godfrey, as its first Head of Capital Markets.

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company,has returned to the capital markets and insurance-linked securities (ILS) in search of more mortgage reinsurance protection, launching its third mortgage ILS deal of the year, a $511.5 million Bellemeade Re 2021-3 Ltd. transaction.