reinsurance

Swiss Re continued to expand its alternative reinsurance capital assets under management across the range of insurance-linked securities (ILS) structures it manages for 2022, with notable successes in growing sidecar commitments for its PGGM-backed vehicle and its multi-investor Sector Re sidecar.

HSCM Ventures, the insurtech focused venture capital investing arm of reinsurance and transport focused asset manager Hudson Structured Capital Management, has led a $25 million Series B round for sensor-driven parametrics coverholder Parsyl.

Managers of third-party reinsurance capital and insurance-linked securities (ILS) should anticipate a more challenging fundraising environment through 2022, as investor scepticism is currently high after recent years of catastrophe losses, according to RenaissanceRe CEO Kevin O’Donnell.

International law firm Willkie Farr & Gallagher LLP has announced the hiring of David Luce, a senior lawyer with significant insurance-linked securities (ILS) experience, as well as experience of a range of alternative risk transfer and financing structures.

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, grew its managed premiums year-on-year in 2021, resulting in a corresponding increase in fee income from its activities with so-called Strategic Capital Partners.

Roosevelt Road Re, an expansive Bermuda based reinsurance company launched with a partnership with US MGA Tradesman, has announced the hiring of Darren Bailey, an executive with ILS and capital markets experience.

After another challenging year of catastrophe losses in 2021, Bermuda based reinsurance firm and third-party capital manager RenaissanceRe went into the January 2022 renewals with its Upsilon collateralized reinsurance and retrocession vehicle significantly smaller than the prior year, its CEO revealed today.

With capital still abundant, the reinsurance hardening seen at recent renewals is assumed to be driven by risk aversion this time around, but the very factors driving risk and pricing higher are also seen as tailwinds for the re/insurance sector longer-term, by investment banking giant Goldman Sachs.

Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor that sponsored its first catastrophe bond in December, a $95 million Logistics Re Ltd. (Series 2021-1) cat bond, has highlighted the support of Hemant Shah’s artificial intelligence property data and analytics firm, Archipelago.

At a time when London’s market share in reinsurance has stagnated, the insurance-linked securities (ILS) sector in the United Kingdom and its failure to gain traction so far is an example of regulation failing to support the market’s ambitions, representatives of the House of Lords heard in a hearing yesterday.