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Property rates to continue firming, ILS market a factor: AmWins

The pace of rate hardening in the U.S. property insurance marketplace has accelerated and this firming trend is expected to continue, with the availability of capacity from the ILS market seen as one factor influencing it, according to AmWINS.As the overall property insurance rate hardening continues, there are noticeable changes read the full article →

Gradual pick-up of ILS transactions expected in Asia: Fitch

Insurance-linked securities (ILS) and catastrophe bond activity is expected to gradually accelerate in the Asia region, providing investor interest in the ILS asset class remains strong, according to Fitch Ratings.While insurance-linked securities (ILS) and collateralized forms of reinsurance in general are familiar concepts in North America and Europe, there has read the full article →

Firm reinsurance rates to persist through January 2020 renewal: Fitch

The firm(er) reinsurance market conditions seen of late are expected to persist through the key January 2020 renewals, according to analysts at Fitch Ratings.As a result, Fitch expects that reinsurers will boost their capitalisation and put it to good use, through the retention of more capital in the near term read the full article →

ILS is insulation for adverse mortgage insurance losses: NMI CEO Merkle

Mortgage insurance specialist NMI Holdings, Inc. successfully completed its third and largest insurance-linked securities (ILS) transaction, the $327 million Oaktown Re III Ltd., and CEO Claudia Merkle highlighted how these capital market backed reinsurance transactions insulate it against adverse losses.NMI returned recently to secure $327 million of excess of loss read the full article →

AXIS Capital lifts third-party capital assets managed to $2.1 billion

Bermuda headquartered insurance and reinsurance firm AXIS Capital Holdings Limited has lifted the amount of third-party capital assets under its management to a new high at $2.1 billion.AXIS Capital’s third-party capital management business has continued to steadily build, with the insurance and reinsurance firm using an increasing amount of quota read the full article →

Swiss Re cedes more of its catastrophe risks to retro in 2019

Reinsurance giant Swiss Re has been expanding its natural catastrophe risk underwriting in recent months, but along with this has ceded roughly 4% more of its catastrophe risk exposure to sources of retrocession, compared to the prior year.Recently we explained that Swiss Re has been embracing the capital markets more, read the full article →

North Yorkshire Pension Fund increased ILS allocation to Leadenhall

The North Yorkshire Pension Fund, a pension scheme for council and local government workers in the Yorkshire region of the United Kingdom, increased its allocation to insurance-linked securities (ILS) funds under the management of Leadenhall.Having originally won a mandate from the pension fund for an £80 million allocation in 2018, read the full article →

Allstate’s cat losses rise to $2bn YTD, on hail, storms and creep

In the month of July U.S. primary insurance giant Allstate was again hit by fresh losses from convective storm activity and in particular hail damage, while loss creep from the same type of events that struck in previous months was also accounted for.Allstate reported estimated catastrophe losses for the month read the full article →

Swiss Re puts insured catastrophe losses at $19bn for H1 2019

Global reinsurance firm Swiss Re has estimated that first-half 2019 natural catastrophes and severe weather events around the globe cost the insurance industry $19 billion, covering just 42% of the $40 billion economic impact.The percentage of economic losses insured is lower than a year ago, on Swiss Re's data, when read the full article →

Arch acquiring tech & third-party capital focused MGU Ventus

Arch Insurance North America, a division of insurance and reinsurance specialist Arch Capital Group, has announced that it will acquire the technology and third-party capital focused managing general underwriter Ventus Risk Management.Regular readers will be familiar with Ventus Risk Management, a company focused on sourcing and underwriting property catastrophe and read the full article →