Quota Share


Stone Ridge’s interval ILS fund shrinks 10% and shifts further to cash equivalents

Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets shrank again in the last quarter of record, with overall net assets down more than 7% in the period to January 31st 2020.However, the experience was not evenly shared across Stone Ridge's two mutual ILS fund strategies, as the managers read the full article →

Reinsurance costs rose for U.S. P&C insurers on BEAT tax & losses

The results of the U.S. property and casualty insurance sector were affected by higher reinsurance related expenses after the implementation of the BEAT tax and higher catastrophe losses, according to A.M. Best.In a recent report A.M. Best highlighted the impact of the base erosion and anti-abuse tax (BEAT) which was read the full article →

Stone Ridge interval ILS fund shrinks again, cat bond focused fund stable

Stone Ridge Asset Management's mutual insurance-linked securities (ILS) fund assets shrank slightly in the last quarter of record, with the Interval ILS fund down roughly 5% again, but the managers catastrophe bond focused fund was more stable and grew almost 1% in the period.Overall, Stone Ridge's mutual ILS fund assets read the full article →

Stone Ridge raises ~$1.5bn to deploy in quota shares including non-cat risks

Stone Ridge Asset Management has raised significant new funds and commitments for quota share reinsurance investing for 2020, with these new funds raised outside of the managers typical mutual ILS funds and CEO Ross Stevens saying this new strategy will support about $1.5 billion of assets and also invest in read the full article →

Big four reinsurers may exceed Q3 catastrophe budgets on Faxai

Typhoon Faxai's impacts on the global insurance and reinsurance industry is expected to push the big four reinsurers beyond their quarterly natural catastrophe budgets for the third-quarter, with Swiss Re anticipated to take the largest hit given its market share in Japan.Analysts at Deutsche Bank said that they expect all read the full article →

Sidecar issuance to remain active as Jan renewals approach: Aon

The collateralized insurance and reinsurance sidecar market is expected to remain active through the rest of 2019, as sponsors look for investors and capital to support their capacity needs going into the key January 1st 2020 renewals, according to Aon Securities.There are a number of reinsurance sidecars being marketed to read the full article →

Dorian & Faxai may partially erode some ILS deductibles: Twelve Capital

Reflecting on the potential impacts from recent catastrophe events to insurance-linked securities (ILS) and collateralised reinsurance investments, specialist ILS fund manager Twelve Capital warns that together hurricane Dorian and typhoon Faxai might erode some underlying protective layers.Hurricane Dorian and typhoon Faxai have the potential to be the largest two catastrophe read the full article →

ILS funds expect any hurricane Dorian losses to be largely attritional

In the main, funds investing in insurance-linked securities (ILS) and collateralised reinsurance are expecting any losses from hurricane Dorian that flow to the sector will be largely attritional in nature.Speaking with a number of ILS fund managers in Monaco in the last week, as well as communications had more widely read the full article →

One sidecar pulled on lack of investor appetite, others questioned on terms

One collateralised reinsurance sidecar transaction that had been lined up for the January 2019 renewals has been pulled due to a lack of appetite from investors, while at the same time other sidecar arrangements are now being questioned for changes being proposed to their terms, Artemis understands.It's shaping up to read the full article →

Stone Ridge reinsurance interval fund redemptions oversubscribed

For the first time in the mutual insurance-linked securities (ILS) funds history, the Stone Ridge Reinsurance Risk Premium Interval Fund has seen applications for its latest quarterly share repurchase program become oversubscribed, Artemis has learned.With the reinsurance fund being an interval and mutual fund structure, registered under the U.S. Investment read the full article →