reinsurance

Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting unit of specialist underwriter Hiscox Group, has reported a rise in fee income earned from its ILS investment management business in 2020.

The severe flooding and storms affecting parts of Australia have already been counted to have driven insurance claims amounting to A$385 million and this number will rise significantly.

Heightened and ongoing uncertainty facing the reinsurance sector and the fact reinsurers have responded by shifting their views of risk is set to drive further rate increases and should make the gains already secured more sustainable, according to analysts at Morgan Stanley.

Losses from recent bouts of severe convective weather and thunderstorms in the United States are set to drive insurance and perhaps reinsurance market losses into the hundreds of millions at least, according to Aon’s Impact Forecasting.

American International Group (AIG) has made two senior reinsurance related appointments, as it continues to underline the importance of reinsurance on both inwards and outwards sides of its book.

Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance, insurtech and transportation- focused investment manager, is supporting mentorship and leadership development opportunities for young Bermudians through a new partnership.

Mike Sapnar, the outgoing CEO of global reinsurance group TransRe, is heading for a new role at Stone Ridge Asset Management, the New York based asset manager with a focus on alternative risk premia strategies, according to sources and reports.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, has named Iain Reynolds and Andy Souter as Co-Heads of P&C business, as Chris Kershaw is set to retire from the company in early April.

A slew of private catastrophe bonds have had their maturity dates extended this week, as continued uncertainty related to prior period catastrophe loss activity means collateral continues to be held in case of any qualifying losses becoming applicable to the subject reinsurance or retrocession.

Global insurance and reinsurance capital raising by traditional companies is now approaching $26 billion, according to the latest analysis from broker Willis Re.