reinsurance

Global reinsurance firm Hannover Re has reported strong growth in premiums written of almost 17% on an adjusted basis for the first-quarter of 2021, with growth also continuing at the April renewals when a further 7.4% has been reported.

Favourable pricing effects across the commercial insurance and reinsurance book at AXA XL helped the unit contribute higher revenues to AXA Groups overall first-quarter of 2021, on a comparable basis, while the unit continued to reduce exposures in a targeted manner as well.

Regular readers will know we like to cover any news on Chubb’s total-return and third-party capitalised reinsurance joint-venture ABR Re, which we see as becoming increasingly strategically important to the insurer.

The catastrophe bond market issuance pipeline is expected to remain elevated over the rest of this year, as significant scheduled maturities will free up ILS investor capital to be put back to work, market facilitator Aon Securities has explained.

Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) reinsurtech company, has announced another key hire in Bermuda, bringing onboard Kevin Copeland, an executive with collateralized reinsurance experience as its Chief Financial Officer (CFO).

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has now integrated AM Best ratings into Panorama, becoming the first online marketplace to integrate ratings programmatically into its offering.

While overall commercial property insurance pricing continued to firm in the first-quarter of 2021, there was continued evidence of deceleration, according to broker Marsh, particularly in some catastrophe risk exposed areas of the market.

Australia’s government is planning to introduce a reinsurance pool to cover cyclone and related flood risks, as a way to help the private industry provide more affordable property insurance to those in the path of tropical cyclones in the north of the country.

The Standards Board for Alternative Investments (SBAI) has published a new document that discusses the practice of side-pocketing within the insurance-linked securities (ILS) industry and explains the need for strong governance, transparency and robust disclosure when it comes to reserving for potential losses.

Fidelis has returned to the catastrophe bond market for its third transaction and with this currently $50 million Herbie Re Ltd. (Series 2021-1) deal the company is seeking to significantly expand the covered perils and territories included.