Retrocession
First PCS triggered Japan ILW brokered by Willis Re
Property Claim Services (PCS) industry loss data aggregation and index reporting services for non-marine catastrophe losses in Japan has already been used for an industry loss warranty (ILW).We've learned that reinsurance broker Willis Re has become the first to structure and trade an industry loss triggered retrocessional risk transfer instrument read the full article →
Lancashire CFO Whelan to retire in 2020
Elaine Whelan, the Chief Financial Officer (CFO) of Lancashire Group and executive director and Chief Executive Officer (CEO) of Lancashire’s Bermuda-based subsidiary, Lancashire Insurance Company Limited, is to retire from the company in 2020.She will continue her roles through the remainder of 2019 and the 2019 financial year-end process, with read the full article →
Florida assignment of benefits (AOB) reform signed into law
Florida's Governor Ron DeSantis has now signed into law the bill that aims to reform the practice of assignment of benefits (AOB), so increasing the chances that the insurance and reinsurance market can get a firmer grip on the runaway claims inflation seen with recent hurricanes that hit the state.The read the full article →
Armour Group hires John Parry (ex-Lloyd’s) as CFO
Armour Group, the Bermuda-headquartered P&C legacy or run-off reinsurance specialist and founder of ILS Investment Management (ILSIM), has announced that it has hired former Lloyd's of London CFO as its new Group Chief Financial Officer.Parry, who left Lloyd's recently having helped it to begin a more serious search for participation read the full article →
Markel CATCo listed fund NAV’s rise for second consecutive month
The CATCo Reinsurance Opportunities Fund, Markel CATCo Investment Management's stock exchange listed retrocession focused investment fund, has experienced a second consecutive month of positive returns for April, but the shares are still discounted well below the latest NAV's.This retrocessional reinsurance investment fund is heading towards an orderly run-off, which will read the full article →
Bermuda’s first insurance regulatory sandbox licence goes to Akinova
The Bermuda Monetary Authority (BMA) has authorised the first licence for its insurance regulatory sandbox, giving it to Akinova, the start-up aiming to launch a marketplace for the transfer and trading of insurance or reinsurance risks.Insurance technology (insurtech) start-up Akinova has already been registered an entity in Bermuda, AkinovA (Bermuda) read the full article →
ILW market dynamics offer attractive investment potential
The industry loss warranty (ILW) market offers an attractive investment opportunity at this point in time, as market dynamics have reduced available capacity, meaning fewer coverage providers exist right now and ILW returns are on the rise.Those ILS markets for which ILWs and other index-linked reinsurance and retrocession products are read the full article →
RenRe cedes more risk to Upsilon, earns more fee income in Q1 2019
Bermudian reinsurance firm and third-party ILS capital manager RenaissanceRe has reported that it ceded much of its growth in catastrophe business to its Upsilon vehicle in the first-quarter, while its fee income from third-party capital grew year-on-year.RenaissanceRe (RenRe) had increased its third-party reinsurance and insurance-linked securities (ILS) capital under management read the full article →
Jebi nears $13bn, why industry missed the loss creep: Swiss Re CFO
Global reinsurance firm Swiss Re strengthened its typhoon Jebi loss reserves in the last quarter and the firms CFO John Dacey said that the company puts the industry loss from the storm at close to $13 billion now.Dacey also explained why the company believes the reinsurance industry missed the loss read the full article →
Kinesis seeing more opportunities as market turns: Lancashire CEO
Kinesis Capital Management, the third-party collateralized reinsurance arm of Lancashire Holdings, is seeing much more in the way of underwriting opportunities in the currently turning market, according to Alex Maloney, CEO of Lancashire.We already knew that Kinesis had grown its assets under management by around 20% at the start of read the full article →
