Insurance linked securities news, ILS news

As many as 2,000 policyholders of earthquake insurance coverage provided by the California Earthquake Authority (CEA) were exposed to yesterday’s magnitude 6.4 quake near Ridgecrest, California, but the event could have cost billions had it struck a more densely populated area.

Global Parametrics, the parametric and index-based disaster risk transfer company, and the UK government’s Department for International Development (DFID), have agreed in principal to provide some of the capital necessary to back the Red Cross’ volcano catastrophe bond.

Reinsurance giant Munich Re aims to keep a 10% share of the growing global cyber marketplace and so far says that alternative sources of capital are not impinging on the cyber sector, with little competition seen from ILS market sources.

Stone Ridge Asset Management’s insurance and reinsurance linked assets under management shrank by another -4% in the latest quarter of record, finishing the period at $5.93 billion by the end of April as the manager continued to realise losses from catastrophes and redemptions.

Tangency Capital Ltd., an insurance-linked securities (ILS) investment management firm focusing on quota share reinsurance business, has added a new $165 million capital raise in time for the mid-year renewals.

Our next insurance-linked securities (ILS) conference, ILS Asia 2019, is held in just one week’s time. With space running low now we urge you to secure your ticket to attend today if you want to guarantee your place at our event.

Over the last couple of years, Property Claim Services (PCS) has innovated and evolved to offer an enhanced, client-centric global strategy designed to serve both existing and new client needs.

Rating agency A.M. Best warned of concerns that insurers may over-estimate the benefits of recently passed legislation to reform the assignment of benefits (AOB) system in Florida in their pricing.

Allianz Global Corporate & Specialty (AGCS) has an ambition to expand its underwriting of business through its alternative risk transfer (ART) unit in the Pacific region, including Australia and New Zealand.

As reinsurance companies of the world hold their ground and push through increased rates for their products, as seen at recent renewals in Florida and beyond, insurers and protection buyers may increasingly look to find more cost-effective options raising interest in ILS, according to A.M. Best.