reinsurance

Another settlement has now come to light thanks to the mediation between Vesttoo bankruptcy creditors, with specialty insurance and reinsurance group Chaucer and the Official Committee of Unsecured Creditors agreeing a way forwards over $18.9 million of value attached to debtor entity Vesttoo Bay XXIV and importantly it appears also on a way forward for […]

Equity analysts from investment bank Berenberg have said that, in recent meetings with investors the reinsurance sector has been a focus of their conversations, with investors particularly keen to gauge how much longer the hard reinsurance market can last.

With $415 million in 144A cyber catastrophe bonds issued in the latter stages of 2023, broker Gallagher Re is expecting activity levels to continue, according to Gallagher Securities’ Head of Cyber ILS, Theo Norris.

CatX, a digital catastrophe and parametric risk exchange start-up, has announced that it is integrating risk analytics from Moody’s RMS into its offering, to bring modelling capabilities to users of its product.

The recent mediation between parties involved in the Vesttoo Chapter 11 bankruptcy proceedings has now been completed and a report from the mediator says that “several” settlement agreements have been reached, while negotiations are ongoing with other parties.

Investors are expected to continue to demand a premium for providing capital to support indemnity catastrophe bonds focused on the state of Florida, as despite the reforms this market remains complex, Twelve Capital’s Head of Investment Solutions Vittorio Sangiorgio has said.

Insurance and reinsurance market loss activity in 2023 is seen as having been sufficient to help maintain discipline in the sector, global independent alternative and active investment management firm Man Group has said.

The California Earthquake Authority (CEA) is said to have stabilised its risk transfer and reinsurance program, while increasing its claims paying capacity to the 1-in-365-year return period, as of January 1st 2024, according to rating agency AM Best.

The catastrophe bond market saw a more stable pricing environment in the fourth-quarter of 2023, as the trend towards tighter pricing that had begun earlier in the year slowed down, Aon Securities has said.

Australia has experienced more severe thunderstorms and damaging weather, with storms that impacted the Victoria region on Valentine’s Day being designated as a ‘Significant Event’ by the Insurance Council of Australia (ICA).