reinsurance

Inver Re, the Ardonagh Group’s reinsurance broking arm, has added a new leadership position focused on parametric risk transfer, hiring Gareth Davies from Price Forbes as its new Chairman, Parametrics.

USAA, the primary military mutual insurance company, has successfully doubled in size its 40th catastrophe bond under the Residential Re name, with the company set to benefit from $400 million in multi-peril reinsurance protection from the Residential Reinsurance 2023 Limited (Series 2023-1) issuance.

France headquartered global reinsurance company SCOR has returned to the catastrophe bond market to boost its retrocession arrangements, targeting at least $75 million of multi-peril protection from an Atlas Capital DAC (Series 2023-1) issuance.

Inver Re, the Ardonagh Group’s reinsurance broking arm, has made a key hire in taking well-known industry executive Tom Johansmeyer from Verisk’s PCS unit, to become the brokers’ new Global Head of Index products, Artemis has learned.

Here are the ten most popular news articles, week ending April 30th 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.

Heritage Insurance Holdings, Inc. has now priced its latest catastrophe bond, securing the upsized target of $235 million of reinsurance protection from the Citrus Re Ltd. (Series 2023-1)  named storm deal.

Spinnaker Insurance Company, a personal and commercial lines program and fronting specialist, has entered the catastrophe bond market for the first time, seeking $100 million or more in US multi-peril collateralized reinsurance from a Mountain Re Ltd. (Series 2023-1) issuance.

Des Potter, a Special Advisor for Lloyd’s and a former Guy Carpenter executive and ILS specialist, has asserted that Lloyd’s has “a pivotal role to play” in restoring investor confidence in the ILS class via its London Bridge 2 platform.

Jeremy Noble, President of Insurance at Markel Corporation, said during the re/insurer’s Q1 2023 earnings call yesterday that the combination of the current rate environment in the property sector and its own initiatives, points to a compelling risk / return proposition as the firm continues to work hard to raise capital across its Nephila Capital […]

Bermuda-headquartered re/insurer AXIS Capital ceded significantly less in reinsurance premiums to third-party capital partners in the first-quarter of 2023, earning much lower fee income at the same time.