Insurance linked securities news, ILS news

The second catastrophe bond to be issued in the UK for sponsoring French reinsurance company SCOR is set to upsize, as the multi-peril Atlas Capital UK 2019 PLC (Series 2019-1) transaction is expected to reach $250 million.

The latest catastrophe bond to be sponsored by the Texas Windstorm Insurance Association (TWIA), the $200 million Alamo Re Ltd. (Series 2019-1) transaction, is set to price at the mid-point of initial guidance, we’re told.

The latest catastrophe bond from U.S. primary insurer Safepoint, the Manatee Re III Pte. Ltd. (Series 2019-1) transaction which is being issued out of Singapore, looks set for pricing above the initial guidance range, as investors demand more return for the risk they are taking on.

Armour Group, the Bermuda-headquartered P&C legacy or run-off reinsurance specialist and founder of ILS Investment Management (ILSIM), has announced that it has hired former Lloyd’s of London CFO as its new Group Chief Financial Officer.

Alternative reinsurance capital is playing an increasingly important role in the global re/insurance market, according to Swiss Re, which recognises that it has helped to curb volatility in the marketplace and is paying an increasing share of global losses.

Specialty insurance and reinsurance group Brit Ltd. has hired James Drew, previously working at Aviva, as its new Head of Outwards Reinsurance.

Leading international insurance and reinsurance firm MS Amlin, part of the MS&AD group, is investing in cyber reinsurance MGA Envelop Risk.

Specialty insurer and reinsurer Brit Ltd. has targeted a doubling of written premiums for its Sussex Capital collateralised reinsurance fund platform in 2019, which would equate to growth to around $250 million of assets under management.

Investment in technology is key for insurance-linked securities (ILS) managers looking to deliver high-performing portfolios of insurance and reinsurance linked investments, according to Twelve Capital.

RenaissanceRe sees the potential to raise new third-party reinsurance capital for the June 1st renewals, as its view of the market particularly in retrocession suggests profitable opportunities will be available, CEO Kevin O’Donnell explained recently.