Berkshire Hathaway returns to write retrocession as renewal nears

As the retrocessional reinsurance market deals with a crunch of capacity, trapped collateral from ILS players and the disappearance of a core product from the market, some traditional players are returning and increasing their appetites, including Berkshire Hathaway, we can report.Berkshire Hathaway's return to a market segment has always been read the full article →

ILS NYC 2020: Horseshoe & Schroder Secquaero speakers join

With less than two months to go until our next insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2020, we have some more speakers to announce. Please register soon to secure your ticket at the best possible price.We’re holding our fourth annual insurance-linked securities (ILS) conference held in read the full article →

Aberdeen says struggling to find ILS opportunity with “satisfactory risk-return”

It looks like Aberdeen Standard Investments may exit the insurance-linked securities (ILS) sector, as it has struggled to find a new investment opportunity that meets its risk and return target requirements, while fitting the mandate of one of its funds.The Aberdeen Diversified Income and Growth Trust plc investment fund had read the full article →

Climate threat needs capital response, but industry has to give it confidence

The economic consequences of climate change may prove particularly severe for insurance and reinsurance companies in the property and casualty (P&C) space, presenting both a threat and an opportunity, but the latter may require access to capital to take full advantage of it.Recently, rating agency Moody's reiterated its stable outlook read the full article →

Swiss Re back with $175m Matterhorn Re 2020 named storm cat bond

Global reinsurance giant Swiss Re has returned to the catastrophe bond market and is seeking to sponsor its second Matterhorn Re catastrophe bond in six months, as it looks to secure at least $175 million of retrocession against U.S. named storm losses.The twin tranche Matterhorn Re Ltd. (Series 2020-1) catastrophe read the full article →

Typhoon Kammuri (Tisoy) causes significant damage, but Philippines cat bond expected safe

The extent of the devastation caused by recent typhoon Kammuri's impacts on the Philippines has become clearer, as the latest report from the government shows more than 460,000 properties damaged.Typhoon Kammuri, known locally as typhoon Tisoy, made landfall in the Philippines as a strong Category 3 or 4 equivalent storm, read the full article →

Lodgepine Reinsurance the first Bermuda “Collateralized Insurer”

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, has become the first to register a vehicle under Bermuda's recently established "Collateralized Insurer" class of company.Bermuda's regulator designed the collateralized insurance and reinsurance class of Limited Purpose Insurer (LPI) as a response to the increasing read the full article →

Hong Kong’s Carrie Lam reaffirms intentions on ILS & cat bonds

Hong Kong is still aiming to establish itself as a local market hub for insurance-linked securities (ILS) and catastrophe bond business, with its key focus to help Chinese mainland insurance or reinsurance companies access the capital markets.Hong Kong is uniquely placed to act almost as a type of transformer for read the full article →

RenaissanceRe returns to cat bonds with $250m Mona Lisa Re 2020-1

Bermuda-headquartered global reinsurance firm RenaissanceRe is returning to the catastrophe bond market for the first time since 2013, with a $250 million or larger Mona Lisa Re Ltd. (Series 2020-1) transaction, a clear sign that retro market conditions are making cat bond coverage more attractive to sponsors.RenaissanceRe (RenRe) has never read the full article →

Floods including Venice drive “costly” November for European insurers: Aon

Flooding and severe storms across Europe during November are expected to drive multi-billion economic losses across the region, with insurers likely to pick up a reasonable proportion of the bill.Insurance and reinsurance broker Aon's catastrophe risk modelling unit Impact Forecasting explained that Italy alone is expecting an economic impact in read the full article →