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Beazley’s market facilities line expands, expects economies of scale

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has continued to expand its market facilities business line which includes its third-party capital backed beta-like market tracking structures. Reporting its first-half interim results this morning, in which it posted a $13.8 million pre-tax loss as impacts from the Covid-19 pandemic read the full article →

Covid-19 losses to take years to catch up to industry estimates: Willis Re

Currently, bottom-up Covid-19 pandemic loss announcements from insurance and reinsurance companies stand at only around $6 billion, some way short of the wide ranging $30 billion to $100 billion industry loss estimates and broker Willis Re warns it will likely take years to catch up which has ramifications for the read the full article →

Lloyd’s explores multi-use iSPV structure under UK ILS regulations

The Lloyd's insurance and reinsurance market appears to be actively exploring use of a specific insurance-linked securities (ILS) structure under the UK ILS regulatory regime, to help capital markets investors access risk underwritten in the market more easily. Lloyd's has been discussing the prospect of making it simpler for capital market read the full article →

Lloyd’s pitches pandemic/systemic risk solutions, with capital markets support

Lloyd’s of London, the specialist insurance and reinsurance marketplace, has this morning pitched three possible solutions to pandemic and systemic risk insurance provision, as it seeks to bring constructive discussion to the issues of insurability of pandemic risk exposure and other major systemic risks. As ever, the capital markets are seen read the full article →

Beazley sets $1bn premium target for investor-backed Smart Tracker

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has ambitious targets for bringing significant amounts of third-party capital under its management through facilities, or beta-like market tracking structures, according to analysts. In particular, Beazley sees a huge opportunity to grow its third-party capital backed ‘smart tracker’ special purpose arrangement read the full article →

Lloyd’s estimates non-life pandemic industry loss at $107bn

Lloyd's of London, the specialist insurance and reinsurance marketplace, has estimated that the non-life insurance industry faces as much as $107 billion of losses from the Covid-19 coronavirus pandemic to the 2020 underwriting year alone. It's a massive figure, sitting above the top-end of consensus estimates and reflects the enormous toll read the full article →

TigerRisk hires Lawrence Po-Ba for Lloyd’s capital & investment focus

TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, has announced the hiring of experienced London reinsurance and insurance-linked securities (ILS) market executive Lawrence Po-Ba. Po-Ba was most recently an employee of London headquartered ILS fund manager Securis Investment Partners LLP, where he had a focus on helping read the full article →

Beazley says Covid-19 losses to reach $170m after reinsurance

Beazley, the specialist Lloyd’s focused insurance and reinsurance underwriting business, has revealed an expected Covid-19 claims burden of $170 million net of reinsurance across its business. We would expect some of that loss to be shared with investors backing the companies third-party capital arrangements. In a trading update today, Beazley said read the full article →

Sompo Int. targets London & Euro growth, but exits Lloyd’s for efficiency

Sompo International, the Bermuda headquartered specialty property and casualty insurance and reinsurance provider, is exiting the Lloyd's market, saying that while it aims for significant growth in London and Europe it feels a consolidated company market platform is the way to go. The move will see Sompo International halt all underwriting read the full article →

ILS funds face inflow challenges while Covid-19 uncertainty remains

While the immediate economic and financial market impacts of the Covid-19 coronavirus pandemic have ramifications for investor appetite, there are longer-term reasons that ILS funds could face challenges when it comes to accepting new inflows while the virus remains prevalent. For insurance-linked securities (ILS) funds and other collateralised reinsurance investment strategies, read the full article →