Retrocession

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Bushfires trap Markel CATCo retro fund capital as Irma creeps again

The Australian bushfire disaster has caused some capital to be trapped within the listed retrocessional reinsurance investment fund strategy operated by Markel CATCo, while continued loss creep from hurricane Irma also hit exposed positions at the end of 2019.The 2019 portfolio of stock exchange listed and in run-off retrocessional reinsurance read the full article →

Demand surge said a factor in typhoon Hagibis claims, may elevate industry toll

Reports from and sources in Japan suggest demand surge is set to be an issue with claims from typhoon Hagibis, as a lack of claims professionals, assessors and loss adjusters has been noted to be slowing the process of insurance claims filing and is expected to inflate claims amounts.The fact read the full article →

Stratosphere Re cat bond price drops to cover $100m of Nephila’s tail risk

Issuance of the Stratosphere Re Ltd. (Series 2020-1) catastrophe bond has now been successfully completed without upsizing at $100 million but at the lowest end of pricing, offering an efficient source of tail-risk protection to the largest ILS fund manager in the market Nephila Capital.The Stratosphere Re cat bond, which read the full article →

Hannover Re’s 3264 Re cat bond settled at low-end of reduced pricing

At issuance, the upsized by 50% $150 million 3264 Re Ltd. (Series 2020-1) international multi-peril catastrophe bond transaction brought to market by global reinsurance firm Hannover Re saw its pricing settle at the bottom-end of already reduced guidance, reflecting a roughly 6% fall while marketing.This transaction may not be a read the full article →

Significant catastrophe bond issuance expected in 2020: Aon

Significant issuance of property catastrophe bonds is expected in 2020, with a large amount of maturities likely to drive renewal issues, according to broker Aon.In its latest reinsurance market report, Aon explains that loss activity over the last few years "had a relatively modest impact on this area of the read the full article →

Japanese cat bonds trade up as Jebi & Hagibis loss outlooks improve

Three tranches of catastrophe bonds exposed to Japanese typhoon wind damage have traded up around 10% in recent weeks, as the market's view of how large the eventual industry losses from typhoon Jebi and Hagibis will be has moderated somewhat.Both tranches of the $320 million Akibare Re Ltd. (Series 2018-1) read the full article →

PCS used as trigger source for first New Zealand exposed ILW transaction

Property Claim Services (PCS) has expanded its activities around the world with the introduction of new regions where its industry loss data aggregation and index reporting services are available and the market is responding, with new transactions being placed using PCS data as a trigger source.The most recent success is read the full article →

Broad-based Japan & U.S. reinsurance price increases expected: Moody’s

Given the way reinsurance rates moved at the recent January renewals, particularly in property catastrophe lines, the market should expect further "broad-based price increase" at the next sets of renewals in April and at the mid-year, Moody's believes.For the rating agency the most telling factor in predicting future reinsurance price read the full article →

AXIS warns on $169m catastrophe & weather Q4 hit, plus Irma creep

AXIS Capital Holdings Limited, the Bermuda headquartered specialist global insurance and reinsurance firm, has pre-announced a range of hits to its fourth-quarter 2019 earnings, from catastrophes and severe weather during the period, as well as continued loss creep from hurricane Irma.Included in this is losses from Japanese typhoon Hagibis, the read the full article →

Hyperion X builds out reinsurance analytics & capital advisory leadership

Hyperion X Analytics, a data, advisory and technology focused unit of the global Hyperion Insurance Group, has confirmed the hiring of Mark Shumway and announced two more senior leaders as it continues to build out its practice expertise in reinsurance analytics and capital advisory.Hyperion, a global insurance and reinsurance broking read the full article →