reinsurance

RenaissanceRe, the Bermuda based reinsurer and third-party capital manager, is seeking further scale in all its endeavours, with the acquisition of the Validus reinsurance business and Talbot reinsurance book from global player AIG, while the deal includes buying the AlphaCat Managers ILS fund management unit as well.

The Florida Retirement System Pension Plan counted over $912 million of insurance-linked securities (ILS) and related assets under management as of the end of 2022, with the institutional investor continuing to expand the diversification within its insurance and reinsurance investments, thanks to longevity-linked life asset growth.

Longevity gains and so the life expectancy of populations are increasing around the world and this is expected to continue with a new wave of gains expected, but the United States has moved the other way, as life expectancy has fallen, according to research from Swiss Re.

The upcoming Florida reinsurance renewals at June 1st are seen as progressing well and at a good pace, despite the hard market environment, with capacity seen as sufficient to enable programs to clear, analysts at JMP Securities have said.

Spinnaker Insurance Company, the personal and commercial lines program and fronting specialist, is progressing its debut catastrophe bond issuance and the target size for the market for Mountain Re Ltd. (Series 2023-1) issuance has increased slightly to $125 million, we’re told.

The New Zealand Earthquake Commission, or Toka Tū Ake EQC, remains on-track to secure its debut slice of catastrophe bond backed reinsurance protection from the capital markets,  with the Totara Re Pte. Ltd. (Series 2023-1) issuance looking set to price at the upper-end of initial guidance, we understand.

Conduit Re, the Bermuda headquartered global reinsurance company that launched for the 2021 underwriting year, has now entered the catastrophe bond market with a debut issuance, sponsoring a $100 million Stabilitas Re Ltd. (Series 2023-1) deal to secure retrocession from the capital markets, we can report.

Here are the ten most popular news articles, week ending May 21st 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has become the latest company to establish a collateralized insurer class of company in Bermuda, named Arbol Re Ltd.

The economic losses and cost associated with the ongoing severe flooding event in Europe that has particularly affected the Emilia-Romagna Region of Italy is expected to be significant, rising into the billions of Euros, but the insured losses will be lower as a “significant protection gap” for flood risk persists, broker Aon has said.