Third-party reinsurance capital news

Today, we are delighted to announce the first wave of expert speakers for our upcoming ILS NYC 2025 conference. With over 150 people already registered to attend, Early Bird tickets are selling fast. Register soon to secure your place at the event.

During the full-year 2023, the catastrophe bond and insurance-linked securities (ILS) team at private markets focused investment manager Schroders Capital allocated over US $817 million to transactions that specifically help in reducing the insurance protection gap.

RenaissanceRe, the Bermudian global reinsurer, has lifted its third-party investor capital under management in reinsurance joint-ventures and insurance-linked securities (ILS) funds managed by RenRe’s Capital Partners division to a new end of quarter high of $7.72 billion.

Here’s a final reminder to register for our Artemis Live webinar, being held this week on November 21st 2024, in which industry expert speakers will explore the use of alternative capital sources by originators of insurance risk, such as managing general agents (MGA’s).

Aspen Capital Markets, the third-party and alternative reinsurance capital management unit of global re/insurer Aspen, continued to increase its assets under management in the third-quarter of 2024, surpassing $2 billion for the first time, reflecting growth of 38% in the last year.

Year-to-date, only modest amounts of catastrophe losses would be shared with the investors backing reinsurance firm Swiss Re’s Alternative Capital Partners (ACP) division, as the third-party capital unit is more geared to larger tail-risk events, the firm’s Group CFO John Dacey explained today.

DaVinci, the sidecar-like third-party capitalised reinsurance joint-venture vehicle operated by RenaissanceRe has received an upgrade from Moody’s, with the ratings agency citing DaVinci’s increased scale and long-term profitability as key drivers.

Earlier this year we reported that global reinsurance company Hannover Re was assessing its risk management need in relation to its K-Cessions quota share sidecar for the second year running, with a potential reduction to be expected and this morning executives from the company confirmed this again.

Speaking during the RenaissanceRe third-quarter earnings call today, the CFO of the reinsurer said that while management fees from its third-party and ILS capital management business are expected to come in around the same level in the fourth-quarter, the effects of hurricane Milton will dent performance fees.

Hiscox is expecting property catastrophe reinsurance to remain a “very attractive” market in 2025, according to group CFO Paul Cooper, who speaking this morning said the firm expects to continue incrementally deploying capital to that space.