reinsurance

Global commercial insurance pricing has stabilised in the third-quarter according to broker Marsh, but the property and in particular the property catastrophe insurance market remains the most challenging area.

Tenax Capital, the London based hedge fund investment manager that operates a catastrophe bond strategy, has joined the insurance-linked securities (ILS) industry working-group that focuses on enhancing environmental, social and governance (ESG) transparency in the ILS market.

The Texas Windstorm Insurance Association (TWIA) expects to buy more reinsurance and risk transfer in 2024, as the not-for-profit wind and hail insurer of last resort for the state forecasts a significant increase in exposure, alongside a continued hard reinsurance market.

Hurricane Otis’ category 5 onslaught in the Acapulco region of Mexico is currently estimated to cost the local insurance and global reinsurance industry somewhere from US $1.8 billion to as much as US $6.5 billion, according to rating agency AM Best.

Bermuda headquartered re/insurer Arch Capital has now successfully closed its latest mortgage insurance-linked securities (ILS) issuance, securing the targeted roughly $186.6 million of coverage from the Bellemeade Re 2023-1 Ltd. issuance, while adding $46 million in direct reinsurance to take the total protection to just over $233 million.

Olympus Insurance Company, a Florida homeowners specialist underwriter, has adopted new rules for property underwritten on the coast of the state, as it looks to align its inwards business more closely with the reinsurance models used.

London Innovation Underwriters, the entity established by listed special purpose acquisition company Financials Acquisition Corp, which was launched in 2022 by sector executives William Allen and Andrew Rear, has lowered its targeted equity raise to up to £300 million, to fund its strategy to access the returns of Lloyd’s underwriting via the London Bridge 2 […]

NN Group, or Nationale-Nederlanden, has returned to the catastrophe bond market for its second time, looking to secure €75 million or more in collateralised reinsurance to cover European perils with this Orange Capital Re DAC (Series 2023-1) issuance, Artemis has learned.

Underscoring the potential impacts of climate change on the insurance-linked securities (ILS) market, analysts at global asset management group Schroders have suggested the effects “should be marginal” given climate change is gradual and long-term in nature, while ILS instruments typically have a term of one to three years.

In a sign that the Vesttoo saga could be sped through the courts in order to liquidate the insurtech and its assets, to protect value for stakeholders and creditors while avoiding further litigation between parties, a filing by the US Trustee calls for the Chapter 11 bankruptcy case to be converted to Chapter 7.