Arch issuing largest mortgage ILS to-date, $701m Bellemeade Re 2019-3

Bermuda-based re/insurer Arch Capital Group Ltd. is back in the capital markets with the largest mortgage insurance-linked securities (ILS) transaction seen to-date, a $701 million Bellemeade Re 2019-3 Ltd. that also features the first-ever triple-A rated tranche of mortgage insurance-linked notes.Arch Capital Group has become a significant user of capital read the full article →

Heritage reports elevated Q2 cat losses, United (UPC) reports loss creep

Primary players Heritage Insurance Holdings, Inc. and United Insurance Holdings (UPC Insurance) have reported their Q2 2019 catastrophe losses, with Heritage experiencing higher impacts than the prior year, while United (UPC) has reported in-line current year impacts but further loss creep from 2018.Heritage said that it expects to report $21.5 read the full article →

Estera acquired, to combine with Ocorian

Estera, a global provider of funds, corporate and trust services and an active service provider to the insurance-linked securities (ILS) and reinsurance markets, has been acquired and will combine with corporate administration and fiduciary service provider Ocorian.Inflexion Private Equity has acquired Estera from previous owner private equity investor Bridgepoint.After the read the full article →

Munich Re surprises with bumper €1bn Q2 profit forecast

Munich Re has bucked the expected trend for quarterly reporting from the major global insurance and reinsurance firms, pre-announcing an expectation of around €1 billion of profit for the second-quarter, which is far above analysts estimates.Analysts seem to have been in the main estimating quarterly profits of around €600 million read the full article →

Richard Lowther to move on from Hiscox ILS

Hiscox Re Insurance Linked Strategies Ltd. said today that Chief Operating Officer and Managing Principal Richard Lowther is moving on from the firm.Lowther had been working at Hiscox in ILS since 2014, as the Chief Operating Officer (COO) of Hiscox's relatively new at the time insurance-linked securities (ILS) and collateralised read the full article →

Schroders acquires full ownership of Secquaero, increases stake to 100%

Global asset management group Schroders has taken its ownership stake in Swiss ILS & reinsurance investments specialist Secquaero Advisors AG to 100%.Schroders sees this as a reinforcement of its increasingly important Private Assets business, of which insurance-linked securities (ILS), catastrophe bonds and other reinsurance linked investment strategies have become increasingly read the full article →

Convective storms & hail drive Allstate’s cat losses above expectation again

U.S. primary insurer Allstate has again reported monthly catastrophe losses that were higher than analyst expectations, reporting $311 million of impacts during the month which took its second-quarter cat losses to $1.07 billion before tax.That means Allstate's catastrophe losses for the first-half of 2019 are estimated at somewhere just shy read the full article →

RenaissanceRe further extends maturity of Fibonacci Re ILS notes

Bermudian reinsurance firm and third-party capital manager RenaissanceRe has opted for another extension of maturity for the remaining insurance-linked securities (ILS) notes from its Fibonacci Re Ltd. vehicle’s 2017 and 2018 issuances.The catastrophe bond like structure has seen its maturity dates extended repeatedly, presumably to allow for the collateral to read the full article →

Artex promotes Thompsett to COO, Marshall to CFO

Artex Risk Solutions, one of the largest insurance management firms and a key facilitator in the insurance-linked securities (ILS) and collateralised reinsurance space, has announced two senior promotions, naming a new Chief Operating Officer and Chief Financial Officer.Stephen Thompsett, who has been with Artex since 2018 in his most recent read the full article →

FedNat says Q2 catastrophe losses won’t trigger reinsurance

U.S. primary insurance group FedNat Holding Company has reported $17 million of gross catastrophe losses for the second-quarter of 2019, but does not expect any of the individual events to trigger a reinsurance recovery from its program.As of the time of reporting the catastrophe impact, yesterday, FedNat said that the read the full article →