Third-party reinsurance capital news

Aon’s segregated accounts company White Rock Insurance (SAC) Ltd. has filed a lawsuit in New York against China Construction Bank, alleging an “inside man” at the bank had represented that letters of credit (LOC) involved in the Vesttoo fraud were authentic, and claiming a minimum $140 million in damages from the bank for the losses […]

Unless there are “substantial” losses to insurance-linked securities (ILS) from catastrophe events in the second-half of 2024, Fitch Ratings said it expects “continued strong supply growth in the alternative reinsurance capital market into 2025.”

There is now just one week to go until our catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. Tickets for Artemis London 2024 are selling fast, so please register now if you want to attend.

Yesterday’s launch of Leadline Capital Partners represents a “natural evolution” to third-party reinsurance capital management activities at global re/insurer Ascot, Justin Keith, President and Chief Executive Officer of Ascot Bermuda Limited, told Artemis in an interview.

As the busy reinsurance conferencing season approaches, kicked off in September by our Artemis London 2024 ILS market event and soon after the Monte Carlo Reinsurance Rendezvous, it’s perhaps no surprise that talk of the reinsurance market cycle re-emerges.

Ascot Group, the specialist global re/insurance underwriter owned by Canadian pension allocator CPP Investments, has launched a new dedicated third-party capital management platform named Leadline Capital Partners, as it looks to expand its activities in the space and brings on new investors to support it.

Today we are delighted to announce our final group of new expert speakers for our catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. Tickets for Artemis London 2024 are selling fast, so please register now if you want to attend.

Over the first-half of this year, US headquartered insurance holding company W. R. Berkley Corporation ceded fewer premiums to its Lifson Re collateralized reinsurance sidecar, despite the vehicle remaining the same size in capital terms for 2024.

In time, as wildfire risk models advance and the market becomes more accepting of them, Guy Carpenter executives suggest investor confidence may increase, resulting in a growing willingness to deploy ILS capital to support the California market’s need for wildfire protection.

The management of fronting specialist Clear Blue Insurance are praised for the rapid and determined response to the issues that arose when the company found itself caught up in the reinsurance letter of credit (LOC) fraud perpetrated by Vesttoo, according to rating agency KBRA.