Reinsurance linked investment

Porch Group, owner of a homeowners insurer that found a letter of credit (LOC) backing its reinsurance deal with insurtech Vesttoo was forged, has agreed a $30 million strategic arrangement with broking giant Aon that includes releasing all claims related to the fraud it had against the broker.

A new private catastrophe bond arrangement has come to light, as the Artex Capital Solutions managed Eclipse Re structure has issued a $100 million Eclipse Re Ltd. (Series 2024-1A) deal.

Pillar Capital Management Limited, the Bermuda-based specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager, had continued capital raising success in the second-half of last year, growing its ILS asset base to a new high of $4.4 billion.

With the recent settlement of its latest cat bond issuance, US primary insurance firm Allstate has now moved to the top position in Artemis’ catastrophe bond sponsor leaderboard, with an impressive almost $2.86 billion in risk capital outstanding.

Fitch Ratings has estimated that alternative reinsurance capital, largely deployed in insurance-linked securities (ILS) formats, will have reached $105 billion by the end of 2023, once the final figures are known.

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, grew its assets under management considerably in time for the key January renewals, lifting the total by more than 40% to reach a new high of $5.5 billion.

Having recently filed to appear as a creditor in the Chapter 11 bankruptcy case of Vesttoo, international specialty insurance and reinsurance group Chaucer is now looking to protect the specific segregated cells that were used for its reinsurance transactions with the insurtech, against any leakage of value to claims made by other creditors to the […]

The reinsurance market is expected to remain firm, in terms of its pricing, at the next sets of major reinsurance renewals, at April 1st and July 1st 2024, despite some capital being expected to flow in, Moody’s Investors Service has said.

The Bermuda Monetary Authority (BMA) has laid out its plans for 2024, with Chief Executive Officer (CEO) Craig Swan highlighting specific opportunities in parametric risk transfer for climate insurance.

Despite some tightening of spreads in catastrophe bonds, overall K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, remains overweight the insurance-linked securities (ILS) asset class, although finds industry-loss warranties (ILW’s) relatively less attractive at this time.