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ILS fund manager participation moving up the reinsurance tower

In our discussions with managers of insurance-linked securities (ILS) funds and other collateralized reinsurance structures around the mid-year renewal season, one fact that has become increasingly clear is that many ILS fund managers are taking the opportunity supplied by the improved rate environment to move higher up the risk tower. One read the full article →

Oxbridge Re projects double-digit return for sidecar investors

Oxbridge Re Ltd., the Cayman Islands based reinsurance firm, projects that investors in the 2020-1 series of notes issued by its fully-collateralised reinsurance sidecar vehicle Oxbridge Re NS Ltd. will earn a double-digit return. Oxbridge Re uses its sidecar vehicle Oxbridge Re NS to sources aligned retrocession capacity from capital markets read the full article →

Ark shares almost one-third of Q1 losses with third-party capital providers

Ark Underwriting, a diversified insurance and reinsurance operation of financial services holding company White Mountains, shared a significant proportion of its first-quarter 2021 catastrophe losses with providers of third-party capital that back the companies underwriting. In reporting its results, White Mountains CEO Manning Rountree explained that Ark's first-quarter results were impacted read the full article →

TransRe falls to property reinsurance underwriting loss in Q1

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, saw its property reinsurance business fall to an underwriting loss in the first-quarter of the year, as elevated catastrophe claims dented performance. At the same time, TransRe has taken advantage of reinsurance market conditions to significantly expand its property reinsurance portfolio, underwriting read the full article →

Sapnar joins Stone Ridge’s NYDIG to lead bitcoin services for insurance

Mike Sapnar, the former CEO of global reinsurance firm TransRe has now surfaced as Global Head of Insurance Solutions for the Stone Ridge owned NYDIG, tasked with leading the firms creation of bitcoin-powered products and services for the global re/insurance industry. We wrote back in March that Sapnar was said to read the full article →

Private & bilateral sidecar ILS deals on the rise: Willis Re

The growth of direct quota share transactions between institutional investors and global insurance or reinsurance companies are on the rise, according to broker Willis Re. The reinsurance broker believes that 2021 is seeing a resurgence of the private or bilateral reinsurance sidecar arrangement and that this is enabling some large institutional read the full article →

Stone Ridge’s mutual ILS funds steady, liquidation of positions evident

Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets were relatively steady during the last quarter of record, but growth in short-term, more liquid assets held in the Interval structure suggest a liquidation of some private sidecar and quota share reinsurance positions, possibly to service further redemptions. Overall, mutual ILS read the full article →

TransRe’s outgoing CEO Sapnar said heading to Stone Ridge

Mike Sapnar, the outgoing CEO of global reinsurance group TransRe, is heading for a new role at Stone Ridge Asset Management, the New York based asset manager with a focus on alternative risk premia strategies, according to sources and reports. First reported by two publishers overnight and now discussed by our read the full article →

US deep freeze looks like $10bn to $12bn property cat loss: Albertini, Leadenhall

February's deep freeze and winter storm catastrophe event looks set to drive a property catastrophe reinsurance market loss of somewhere in a range from $10 billion to $12 billion, Leadenhall Capital Partners CEO Luca Albertini believes. Speaking with us during a recent Artemis Live video interview, Albertini said that data and read the full article →

Zurich cedes 10% more premium ($8.6bn) to reinsurance & retro in 2020

Global insurance and reinsurance giant Zurich increased its use of and received strong support from reinsurance and retrocessional capital sources in 2020, ceding US $8.6 billion of property and casualty (P&C) premiums to them across the year. That's slightly more than a 10% increase from the US $7.8 billion of P&C read the full article →