reinsurance

There are an increasing number of insurance-linked securities (ILS) and collateralized reinsurance formations in Bermuda that have a focus on areas of the property and casualty (P&C) market outside of natural catastrophe risks, Damian Sealy of PwC Bermuda explained in a recent video interview.

A pair of lawsuits that allege China Construction Bank staff were complicit in the reinsurance collateral fraud perpetrated by executives at Vesttoo could now be combined, as the Southern District of New York court looks to save time and conserve judicial resources.

Providing a strong signal for the future potential of the casualty insurance-linked securities (ILS) marketplace, insurtech and casualty ILS company Ledger Investing has entered into an agreement with leading ILS investment manager Fermat Capital Management, who will now manage the casualty ILS funds Ledger had created.

Tropical Storm Risk (TSR) has updated its forecast for activity levels during the 2024 Atlantic hurricane season, with a slight reduction in the numbers of storms and hurricanes expected to form, but still expecting four Category 1 or stronger hurricane landfalls in the United States.

Insured losses from hurricane Debby are expected to largely fall within primary insurers’ reinsurance retentions, according to James Eck of Moody’s Ratings.

Research undertaken by insurance and reinsurance broker Aon alongside Columbia University suggests that climate models may be underestimating the future loss impacts of Atlantic hurricanes and U.S. severe storms.

Arch Capital is attempting to reopen the market for mortgage insurance-linked securities (ILS) with the first issuance of mortgage insurance-linked notes seen in 2024, seeking $163.2 million in capital markets backed mortgage reinsurance through Bellemeade Re 2024-1 Ltd.

The broad benchmark index for insurance-linked securities (ILS) funds, the Eurekahedge ILS Advisers Index, has delivered a 4.37% return for the first six months of 2024, which is the third best half-year performance in its history.

At the mid-year reinsurance renewals, US primary insurance giant Allstate has shrunk its Florida excess-of-loss tower again, opting for a lower-level of protection in the state, but has continued to build-out its Nationwide protection, adding again to the top-layer of that tower.

Having made a big and successful bet on property catastrophe risks in 2023 that saw the company writing significantly more in property reinsurance premiums in the first-half of 2023, Warren Buffett’s Berkshire Hathaway has taken a different stance in the second-quarter of 2024.