reinsurance

Hong Kong’s Insurance Authority (IA), the independent insurance and reinsurance regulator for the Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China, has now published initial details of its insurance-linked securities (ILS) grant scheme.

Here are the ten most popular news articles, week ending 2nd May 2021, 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.

The decline in performance fees experienced by RenaissanceRe’s third-party reinsurance capital and insurance-linked securities (ILS) vehicles in the first-quarter of 2021 was driven by the impacts of winter storm Uri, CFO Bob Qutub said yesterday.

Specialist insurance provider with a focus on emerging risk and cyber, CFC, has received ‘in principal’ approval from Lloyd’s of London for the establishment of CFC Syndicate 1988 with the backing of third-party capital.

Interest in parametric risk transfer and insurance is on the rise as the immediacy and availability of data improves and new types of market participants enter the fray, suggesting growth is on the horizon, according to industry experts.

Louisiana Citizens Property Insurance Corporation, the non-profit residential and commercial property insurer for those who cannot access private market insurance in the state, looks set for strong execution with its sponsorship of a new $125 million Pelican IV Re Ltd. (Series 2021-1) catastrophe bond.

USAA, the U.S. primary mutual insurance company, is now set to secure an upsized $400 million of multi-year, fully collateralized, multi-peril aggregate reinsurance from the capital markets with its latest Residential Reinsurance 2021 Limited (Series 2021-1) cat bond deal.

Nephila Capital is experiencing elevated costs as the insurance and reinsurance linked investment manager builds-out and grows its managing general agency (MGA) platforms and readies for the launch of new ILS fund vehicles, Markel Co-CEO Richie Whitt has explained.

Global reinsurance giant Swiss Re reported a strong first-quarter to the year this morning despite continued pandemic losses and natural catastrophe claims, delivering $333 million of net income and reporting continued strong premium growth.

Once again a large hail storm event looks set to drive at least economic losses towards the billion dollar mark, perhaps insurance and reinsurance market losses too.