third-party reinsurance capital


COVID & business interruption to elevate rated paper preference: RenRe CEO

The experience of the reinsurance market with COVID-19 and business interruption, as well as the expectation that uncertainty will persist over the eventual industry loss impact of the pandemic, will all combine to elevate the preference of cedents for rated paper, RenaissanceRe's CEO believes. Kevin O'Donnell, speaking during his firms third-quarter read the full article →

PCS designates hurricane Delta as first Mexico catastrophe event

Property Claim Services (PCS) has designated recent hurricane Delta's impacts on the Yucatan region as the first catastrophe event under its recently launched PCS Mexico industry loss data aggregation and index reporting services. PCS teamed up with Asociación Mexicana de Instituciones de Seguros (AMIS) to launch the PCS Mexico service just read the full article →

Nephila writing cat reinsurance a cleaner, more efficient option for Markel: Execs

Placing ILS fund manager Nephila Capital as the single point of entry to the property catastrophe reinsurance market for Markel Corporation is seen as a "cleaner option" for the company and also a way of generating operational efficiencies, Markel senior executives said yesterday. It was recently announced that Nephila Capital, the read the full article →

AXIS reports decline in third-party capital fee income & cessions

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, has reported a decline in the level of fee income earned through the use of third-party and insurance-linked securities (ILS) capital for the third-quarter, some of which is likely down to catastrophe losses experienced and shared with its investors. At the same read the full article →

Markel’s ILS revenues fall on lower fee income at Nephila

Evidence of third-quarter 2020 catastrophe loss impacts and trapped capital are seen in Markel Corporation's third-quarter 2020 results, as the company reported reduced revenues from its insurance-linked securities (ILS) operations, primarily due to a decline in management fee income at Nephila Capital for the period. Nephila Capital, the largest dedicated insurance-linked read the full article →

RenRe’s third-party capital business hit by large losses in Q3

Large loss events in the third-quarter of 2020 dented performance at Bermuda based reinsurance firm RenaissanceRe's third-party capital joint ventures and managed insurance-linked securities (ILS) funds, resulting in a decline in performance fees. RenaissanceRe (RenRe) had already pre-announced an expected hit to its third quarter 2020 results of operations from major read the full article →

ILS market performance through pandemic to drive public sector interest

The insurance-linked securities (ILS) market has performed admirably through the COVID-19 pandemic, demonstrating that the capital markets remained largely open for transfers of risk and that even under extreme risk scenarios ILS investors can be relied upon to support protection buyers need for risk capital. This bodes well for the future read the full article →

Genworth & Radian secure $740m of mortgage ILS cover

Mortgage insurers Genworth Mortgage Insurance, a subsidiary of Genworth Financial, and Radian Guaranty, part of the Radian Group, have both closed new mortgage insurance-linked securities (ILS) issuances in the last week, successfully securing $740 million of capital markets backed, collateralized mortgage reinsurance between them. Both transactions settled at the sizes previously read the full article →

Aspen Capital Markets third-party assets neared $700m for 2020

Third-party sources of reinsurance capital and the use of insurance-linked securities (ILS) has become increasingly important for Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, leading to success in capital raising for the firm. Aspen's dedicated unit that managers third-party capital and ILS funds or sidecars, Aspen Capital read the full article →

Everest Re expects $300m of net Q3 catastrophe losses

Global insurance and reinsurance group Everest Re has pre-announced that it expects to report around $300 million of pre-tax and net catastrophe losses for the third-quarter of 2020. Despite these losses, which are after accounting for any retrocessional reinsurance recoveries made, Everest Re's CEO said that the company will still report read the full article →