Insurance linked securities news, ILS news

UK government backed mutual terrorism reinsurance firm Pool Re has successfully secured a £40 million (US $50m) layer of additional retrocession to cover it against non-damage business interruption resulting from terror attacks.

Hudson Structured Capital Management Ltd. (doing its insurance investment business as HSCM Bermuda), the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has continued to attract new investor capital in 2019, now reaching $1.7 billion of reinsurance and ILS in committed capital and assets under management.

California has been hit by a series of earthquakes with the two largest being the magnitude 6.4 quake that struck on Thursday and a more significant magnitude 7.1 on Friday, both of which struck the Ridgecrest City area of the state.

Here are the ten most popular news articles, week ending 7th July 2019, 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 steady rise in interest rates of instruments such as U.S. Treasuries, that are typically used as collateral for insurance-linked securities (ILS) and collateralized reinsurance investments, have now served to boost returns for ILS investors in 2019.

The impacts to reinsurance and ILS players from the typhoon Jebi losses in Japan may still have a little further to run, as the escalation of the industry loss has hit fresh layers in reinsurance programs, we’ve learned.

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.