reinsurance

According to a report published on Bloomberg, global primary insurance carrier and reinsurance company Chubb is looking at significant expansion opportunities, with a potential $22 billion acquisition of the Hartford said to be being explored. Update: Chubb confirmed it had made a $23.24bn offer for the Hartford.

The global risk transfer industry is poised for change amid a wave of disruption from numerous sources, a trend accelerated by the impacts of the Covid-19 pandemic and the emergence of SPACs, according to Michael Millette, the Founder and Managing Partner of specialist investment manager Hudson Structured Capital Management.

US primary insurer Allstate has revealed a significant approximately $1.3 billion gross loss from the winter storms and severe winter freeze, primarily impacting Texas, which it warns mean its aggregate reinsurance will trigger, which is provided by its Sanders Re catastrophe bonds.

Insurance-linked securities (ILS) fund manager Integral ILS Ltd. has now formally launched its property insurance partnership with risk origination and distribution specialist Amwins, and has announced that Core Specialty is set to act as the policy issuer.

The AXA UK Group Pension Scheme has entered into a £3 billion longevity swap with reinsurance firm Hannover Re, in a new first for the longevity risk transfer market, a largely non-pensioner deal.

Market conditions and capital raising around the key January reinsurance renewals provided clear proof that investor interest in the insurance-linked securities (ILS) asset class remains real, according to Mathieu Halm, Head of Retrocession and Strategy at CCR Re.

RenaissanceRe, the Bermuda headquartered reinsurer and third-party reinsurance capital manager, is said to have a cautious stance on rate prospects for the upcoming Japanese renewals at April 1st, but a more optimistic outlook for the Florida and mid-year renewals.

The North African country of Tunisia is to get World Bank support and funding to help it develop its catastrophe insurance market and cover people and assets against the impacts of disasters and climate-related events.

Florida headquartered insurer Universal Insurance Holdings now looks likely to secures its first catastrophe bond, the Cosaint Re Pte. Ltd. (Series 2021-1) transaction, with pricing below the low-end of initial guidance, adding another cat bond deal to the list of those pricing down.

The price guidance has been lowered for Tokio Marine & Nichido Fire Insurance Co’s fifth Kizuna Re catastrophe bond, making the $150 million Kizuna Re III Pte. Ltd. (Series 2021-1) transaction the latest to see its pricing fall during marketing.