reinsurance

According to data, analytics and modelling firm CoreLogic, the 2024 severe and convective weather season in the United States is already breaking records for hail, with a recent event outstripping even those from the costly year of 2023.

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, has now established a third collateralized insurer class of company on the island to support the continued expansion of its Monarch Point Re casualty insurance-linked securities (ILS) platform.

Rating agency AM Best has explained that the expansion of named peril lists on reinsurance and retrocession arrangements at the January 2024 renewals, is not expected to make a material difference in terms of the risk covered.

SCOR Investment Partners, the asset management arm of the French reinsurance group and a manager of insurance-linked securities (ILS) funds, has experienced “significant net inflows” in 2023, taking its overall assets under management to a new high of more than €20 billion.

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has launched its second reinsurance sidecar fundraising effort through the sale of up to $10 million of EpsilonCat Re tokenized reinsurance securities issued by its subsidiary SurancePlus Inc.

In what might be viewed as another sign of a more balanced supply-demand dynamic in the catastrophe bond market, the latest deal from UnipolSai Assicurazioni S.p.A. has remained at €100 million in size, but the pricing for the Azzurro Re II DAC (Series 2024-1) cat bond notes has been lifted to the top-end of initial […]

Having shared over one billion Euros of large natural catastrophe and man-made losses with insurance-linked securities (ILS) investors in 2022, last year the figure fell considerably with reinsurance firm Hannover Re only sharing EUR 62 million in losses through fronted ILS arrangements in 2023.

PURE, a high-net worth insurance specialist unit of the Tokio Marine Group, has raised the target size of its debut catastrophe bond to $105 million, while we understand that price guidance for the Ashera Re Ltd. (Series 2024-1) notes has been lowered.

According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season.

Another settlement agreement has been reached in the Vesttoo bankruptcy case, as the debtors, the Official Committee of Unsecured Creditors and reinsurance giant Hannover Re have reached an agreement over funds related to a longevity swap transaction.