Reinsurance linked investment

Ascot Reinsurance Company Limited (Ascot Re), the newly registered Bermuda reinsurance platform for the Ascot Group, will begin its operations acting as a kind of third-party capitalised sidecar for the Ascot Syndicate 1414, by taking a quota share from the firms Lloyd’s operations.

Ascot Reinsurance Company Limited (Ascot Re) is being launched in Bermuda as a Class 3B reinsurance company by Ascot Group Limited, with a $1 billion injection of capital from the Canada Pension Plan Investment Board (CPPIB) and ex-Third Point Re CEO John Berger lined up to lead the company.

Here are the ten most popular news articles, week ending 26th November 2017, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

A new Guernsey based reinsurance start-up, Brilliant Reinsurance (Guernsey) Limited, has been launched, becoming Guernsey’s first re/insurer with backing from China and targeting the provision of retrocession to underwriters in the Lloyd’s of London market.

Leadenhall Capital Partners, the insurance and reinsurance linked securities fund manager, has announced another new hire, adding Anthony Mensa Bonsu as a new non-life Portfolio Manager, who joins the firm from his most recent position with Sompo International.

London-based insurance and reinsurance linked investment manager Leadenhall Capital Partners has announced another new hire into its business development function, hiring Hamza Khan who was most recently with Lloyd’s of London syndicate Probitas 1492.

Kelvin Re Limited and Humboldt Re Limited, the two rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team, have both had their ratings affirmed by A.M. Best despite falling to losses due to recent catastrophe events.

Asset manager Schroders has launched the Schroder Life ILS strategy today, a specialist $750 million fund that will be invested in life insurance and reinsurance linked securities (ILS), aiming to provide its investors with an attractive return from a diversifying asset class.

The Massachusetts Pension Reserves Investment Management (MassPRIM) Board has approved $250 million of investments in two reinsurance and ILS investment managers, as the $68 billion state pension asset manager looks for diversifying asset classes with low correlation to its wider portfolio.

It’s clear that reinsurance sector returns are now much closer to the levels of return offered by ILS funds to their investors, once again raising the importance of keeping the cost-of-capital low and maximising efficiency in order to make a profitable return and remain competitive in re/insurance.