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ILS Capital’s Prospero Re in accident year improvement, but Jebi loss creep persisted

According to a rating report from KBRA, ILS Capital Management’s reinsurance company Prospero Re Ltd. reported an improved accident year combined ratio for 2020, but its calendar year result was affected by loss creep largely related to 2018's typhoon Jebi. Prospero Re Ltd. is the rated reinsurance vehicle of Bermuda headquartered read the full article →

ILS investors took advantage of diversification opportunities in Q1 2021

Catastrophe bond and related insurance-linked securities (ILS) issuance provided investors with both peril and regional diversification in the first-quarter of 2021, as shown by the Artemis Deal Directory. In times of financial market volatility, such as the Covid-19 pandemic and the 2008 global financial crisis, the catastrophe bond asset class has read the full article →

SBAI highlights need for strong governance in ILS side-pocketing

The Standards Board for Alternative Investments (SBAI) has published a new document that discusses the practice of side-pocketing within the insurance-linked securities (ILS) industry and explains the need for strong governance, transparency and robust disclosure when it comes to reserving for potential losses. The practice of side-pocketing is broadly used in read the full article →

On average, successful 144A cat bonds upsized by 63% in Q1 2021

Strong investor appetite enabled sponsors of traditional 144A catastrophe bond transactions to upsize target levels of reinsurance protection during the first-quarter of the year. A factor of Q1 2021 catastrophe bond and related insurance-linked securities (ILS) issuance was the upsizing of property catastrophe deals. Artemis’ data shows that during the period, 11 read the full article →

Catastrophe bond & related ILS market hit new high at end of Q1

The outstanding market size of catastrophe bonds and related insurance-linked securities (ILS) continued to grow in the first-quarter of 2021, reaching new highs of $34.34 billion, based on property cat, life, health and specialty or other line of business cat bonds, or $48.13 billion if you include the mortgage ILS read the full article →

Catastrophe bond & related ILS issuance hit $4.63bn in Q1 2021: Report

Issuance of new catastrophe bonds and related insurance-linked securities (ILS) continued apace in the first-quarter of 2021, with the period seeing $4.63 billion of new risk capital come to market, according to the latest report and data from Artemis. Our latest quarterly report on the catastrophe bond and related insurance-linked securities read the full article →

Ledger Investing adds Hancock (ex-AIG CEO) to Board, hires Rajiv Punja as CIO

Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused venture-backed company, has appointed former AIG CEO Peter Hancock to its Board of Directors and also hired ILS executive Rajiv Punja as its Chief Investment Officer. Hancock has significant and high-profile experience gained across the banking, insurance, reinsurance and capital read the full article →

Record catastrophe bond year ends with busy Q4 2020: Report

Catastrophe bond issuance reached record levels in 2020 and the busy year was topped-off with a record fourth-quarter as well, as the market demonstrated its resilience and ability to expand its relevance even under ongoing pandemic conditions, according to the latest report and data from Artemis. Our latest quarterly report on read the full article →

Rating unchanged on ILS Capital’s Prospero Re after business plan update: KBRA

According to rating agency Kroll Bond Rating Agency (KBRA), the now approved updated business plan for ILS Capital Management's reinsurance company Prospero Re Ltd., which allows it to write both fully collateralized and traditional reinsurance with an element of leverage, does not warrant any change to the vehicles rating. Bermuda headquartered read the full article →

ILS Capital’s Prospero Re approved to write collateralized & traditional reinsurance

ILS Capital Management Ltd. has now received approval from the Bermuda Monetary Authority (BMA) for an expansion of the operating model of its reinsurance company Prospero Re Ltd., which can now write both fully collateralized and traditional reinsurance with an element of leverage. We explained back in February that Bermuda headquartered read the full article →