Third-party reinsurance capital news

Global reinsurance giant Munich Re has said that the reinsurance industry remains challenging, but is anticipating the sector to trend towards stabilisation following reduced pressure on pricing and terms at recent renewals.

Alternative reinsurance capital, in the form of collateralised products such as catastrophe bonds, industry loss warranties, sidecars and collateralised reinsurance contracts, is growing faster than traditional reinsurer capital and has made an “indelible footprint” in the market, says Standard & Poor’s.

Alternative reinsurance capital providers continue to expand their remit, reaching and deploying capital ever more deeply into the insurance and risk transfer market and now being seen in the middle market commercial insurance space.

The numerous challenges and hurdles facing global insurers and reinsurers suggests the market needs to evolve at a faster rate than it has historically, and the future of the industry lies somewhere between the traditional and alternative model, according to John Charman.

Bermudian reinsurer and third-party capital management specialist RenaissanceRe reported a 14.8% decline in managed catastrophe premiums in the third-quarter, year-on-year, totalling $76.9 million.

Today we’re delighted to announce the addition of a number of new speakers to the roster for our upcoming conference, Artemis ILS NYC 2017, which will be held in the heart of Manhattan, New York on February 3rd 2017.

The evolution of the convergence space continues to influence the global insurance and reinsurance industry and this is only the beginning of the market’s transformation, which, along with traditional forms of capacity can address the global protection gap, according to industry experts.

Lancashire Holdings third-party reinsurance capital management unit Kinesis Capital Management held back on distributing profit commission to its parent in the third-quarter while it awaits the confirmation of loss estimates from earlier this year.

For a number of years now the global reinsurance market has been softening steadily, with rates and pricing now at levels thought almost as low as they can go. But still the largest players in the market are able to return excess capital, as seen with Swiss Re this morning.

Sequant Re, the start-up Bermudian collateralized reinsurance and insurance-linked securities (ILS) firm, has taken another US$300,000 investment from its lead backer Premier Diversified Holdings Inc. (PDH), taking its stake to almost 42%.