reinsurance

Hudson Structured Capital Management Ltd. (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has launched HSCM Insurance Credit Strategy, which will seek to originate and invest in medium-to long-term debt issued by insurers, reinsurers, and re/insurance distribution and service companies.

Having recently completed the placement of a new catastrophe bond, the slightly upsized to $125 million Titania Re Ltd. (Series 2023-1) issuance, the leadership of global reinsurance company Ariel Re have hailed the fact the cat bond is the first to have an embedded carbon offset feature.

Warren Buffett’s conglomerate and re/insurance company Berkshire Hathaway delivered an underwriting loss for 2022 in its results this weekend, but the benefits of the strategy of accumulating “free” investment float are again evident and the acquisition of Alleghany Corporation has helped to bulk this out even further.

Florida’s Citizens Property Insurance Corporation is back in the catastrophe bond market and for the first time the residual market insurer for the state is seeking reinsurance on an industry loss trigger basis, with a $200 million target for this Lightning Re Ltd. (Series 2023-1) issuance.

The U.S. Federal Emergency Management Agency (FEMA) has now finalised its latest catastrophe bond for the National Flood Insurance Program (NFIP), securing an upsized $275 million of flood reinsurance from the FloodSmart Re Ltd. (Series 2023-1) deal, while the notes were priced at the low-end of guidance.

Here are the ten most popular news articles, week ending February 26th 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.

Attendees at Artemis’ annual insurance-linked securities (ILS) conference in New York City heard from industry leaders and experts about where the sector should go next, as it continues to explore new lines of business amid a hardening catastrophe marketplace.

Global insurance and reinsurance giant AXA has expanded its quota share reinsurance protection across its property book, which compensates for a reduction in excess-of-loss reinsurance protection as the firm saw its retentions and the attachment points rising across multiple perils at the renewals.

Insurance origination and distribution specialist Amwins has pointed out that, despite the strong increase in pricing and tightening of terms at the “turbulent” January 1 2023 reinsurance renewals, some reinsurers remain cautious on property catastrophe pricing, while others are facing aggregate issues having loaded up on peak zone premiums.

The government of Hong Kong is proposing a two year extension to its Pilot ILS Grant Scheme, which it hopes will help to continue the development of its insurance‑linked securities (ILS) offering and attract more issuers to locate catastrophe bond and ILS arrangements there.