reinsurance

Insurance origination and distribution specialist AmWINS has confirmed that start-up insurance-linked securities (ILS) fund manager Integral ILS Ltd. will be accessing catastrophe risk through its managing general agents (MGA’s).

Chubb, the global primary insurance carrier and reinsurance company, has increased its ownership stake in its strategically important total-return and third-party capitalised reinsurance joint-venture ABR Re, as its importance as a reinsurance provider to the Chubb group continues to grow.

Florida’s Citizens Property Insurance Corporation is targeting a $2.6 billion reinsurance and risk transfer program in advance of the 2021 hurricane season beginning and within the renewed towers could be $850 million of new catastrophe bonds.

Brookfield Asset Management Inc., the giant Canadian headquartered alternative asset manager that has around $575 billion of assets under management, continues to expand its reinsurance operations with a rating from AM Best now secured for its Cayman Islands based reinsurer North End Re (Cayman) SPC.

It’s apparent that some insurance-linked securities (ILS) fund managers turned down new capital allocations around the January reinsurance renewals as they were not convinced they could deploy it all at acceptable return levels, or in certain cases deploy the entire volume of funds they could potentially have raised at all.

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has announced a rebranding of its Ventures business as RenaissanceRe Capital Partners, with Chris Parry taking the lead role as its Global Head.

According to Reuters, the Aon and Willis Towers Watson (WTW) merger may face a statement of objections from the European Commission (EC), as the authority seeks concessions to address competition concerns.

In light of current market conditions and a heightened awareness about the hidden costs of UNL or indemnity business, it makes sense to leverage the industry loss index product, according to Tom Johansmeyer, Head of PCS.

Industry losses from recent winter storm activity in the United States are seen as another driver for more firming of reinsurance prices at the key mid-year renewals, according to analysts at Keefe, Bruyette & Woods.

The official start of the Atlantic hurricane season could be moved earlier by up to two weeks, if officials from National Oceanic and Atmospheric Administration (NOAA) decide that the recent historical climatology warrants an extension to the season.