Third-party reinsurance capital news

This video features another panel discussion from our Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, a session focused on public sector and sovereign risk transfer schemes and the use of catastrophe bonds and capital markets capacity.

The Committee of Unsecured Creditors in the Chapter 11 bankruptcy case of insurtech Vesttoo has now filed a request with the court to allow them to conduct legal discovery on insurance and reinsurance broking group Aon and certain related entities that have been exposed to the letter of credit fraud issues.

Bermuda continues to be the world-leading insurance-linked securities (ILS) domicile, with the vast majority of the catastrophe bond market and a significant proportion of the rest of the ILS market, domiciled or serviced on the island, while its industry continues to drive forwards reinsurance and capital markets Convergence.

Analysis undertaken by ALIRT Insurance Research shows that almost 20% of the total letter of credit (LOC) collateral used by a group of US fronting carriers appears likely to have been sourced via Vesttoo and provided by the bank at the heart of the fraud allegations, China Construction Bank (CCB).

This video features another session of the day at our Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, a keynote speech by Yusuke Kikuchi, Managing Director at Aon Securities (Japan) on catastrophe bond and insurance-linked securities (ILS) activity in the Asia Pacific region.

MGIC Investment Corporation has returned to the capital markets to seek its first issuance of mortgage insurance-linked notes in more than one year, targeting $290 million or more in mortgage reinsurance from this Home Re 2023-1 Ltd. mortgage insurance-linked securities (ILS) transaction.

Radian Guaranty, the US mortgage insurance arm of the Radian Group, has now successfully secured $353 million of fresh reinsurance protection from the capital markets through the issuance of Eagle Re 2023-1 Ltd. mortgage insurance-linked securities (ILS), its first mortgage insurance-linked notes since 2021.

Analysts at investment bank Goldman Sachs say that, while the supply of capital to the global reinsurance market is generally healing, this process has likely been slowed somewhat by the recent further increase to US interest rates.

Since its launch as the first French reinsurance sidecar, CCR Re’s 157 Re vehicle has become an important part of the reinsurer’s property catastrophe play, and further expansion of the sidecar and its capabilities is expected in the future, according to Laurent Montador, Deputy Chief Executive Officer (CEO).

This video features the sixth session of the day at our Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, a panel discussion focused on corporate risk, with reference to risk managers in the Asian region, and the potential for insurance-linked securities (ILS) to play a role in transferring their risk.