Insurance linked securities news, ILS news

Insurance and reinsurance broker Aon has had a good first-quarter in terms of insurance-linked securities (ILS), catastrophe bonds and other capital markets related reinsurance transactions, reporting double-digit year-on-year growth.

Zurich headquartered insurance and reinsurance linked specialist investment fund manager Twelve Capital has taken a just over 3% equity stake in UK retirement income and insurance product provider Just Group plc.

The Lloyd’s of London insurance and reinsurance market is set to be a focus in the coming days, with a new strategy and reform agenda set to be revealed in the awaited “Prospectus” that’s due to be published next week.

With a bill designed to reform assignment of benefits (AOB) having passed the Florida Senate this week, already discussions are turning to how the market impact will be quantified and whether it will reduce reinsurance pricing.

Results announced this morning by global reinsurance firm SCOR confirm the loss creep trend we’re expecting to see from Japanese typhoons Jebi and Trami, as the company revealed a EUR 53 million hit to profits.

When the roof of Notre Dame Cathedral in Paris caught fire recently perhaps the last thing thought of was potential exposure for the insurance-linked securities (ILS) market. But it’s becoming clear there is a small chance some specialty lines ILS positions could be threatened by the fire.

Horseshoe Group has appointed employee Fred LeMoine to the role of Head of Insurance Management, succeeding one of the original co-founders of the firm, Nigel Godfrey, who is set to retire.

Meaningful reform could be on the way for the Florida insurance market, as a bill designed to reform the age-old practice of assignment of benefits (AOB) passed the Senate vote yesterday.

AXIS Capital has continued to expand its use of third-party capital within its business, ceding an increased amount of premiums to insurance-linked securities (ILS) investors and other strategic capital partners in Q1, earning significantly higher fees in the process.

A number of at-risk of loss catastrophe bonds have been traded at rock-bottom distressed prices, suggesting investors have sought to offload bonds they believe will face a total loss, while a buyer (perhaps a single investor) is willing to bet there could be some improvement in the outlook.