Eclipse Re vehicle issues new $30m private catastrophe bond

Eclipse Re Ltd., a special purpose insurance and segregated accounts company that was originally launched by Horseshoe Group and Rewire Securities LLC has issued a $30 million tranche of Eclipse Re Ltd. (Series 2019-03A) private catastrophe bond notes.Eclipse Re is a vehicle that can be used by insurance-linked securities (ILS) read the full article →

$20m private cat bond issued by Eclipse Re vehicle

Eclipse Re Ltd., the special purpose insurer and segregated accounts company that had been launched originally by Horseshoe Group and Rewire Securities LLC has issued its first tranche of private catastrophe bond notes for 2019, Eclipse Re Ltd. (Series 2019-01A).With Rewire Securities no longer operating as a broker-dealer, after the read the full article →

Hannover Re expanded ILS, risk transformation & fronting activities in 2018

In reporting its results this morning, global reinsurance firm Hannover Re has revealed significant growth in its insurance-linked securities (ILS) related activities, particularly in risk transformation and fronting for collateralised reinsurance.Hannover Re has become increasingly involved in the ILS market, acting as a conduit for its ceding clients to access read the full article →

Alleghany CEO warns re/insurers not to chase the ILS tail (risk)

Weston Hicks, the President of the Alleghany insurance, reinsurance and investment group, has warned re/insurers that provide fronting and transformation services to the ILS and collateralized market to beware of being left holding the tail risk.Hicks has a record of highlighting any potential issues he sees related to the ILS read the full article →

OmegaCat Reinsurance registered by AlphaCat as Class 3A transformer

AlphaCat Managers Ltd., the AIG owned insurance-linked securities (ILS) fund and collateralized reinsurance investment manager, has set up a new Class 3A Bermudian reinsurance transformer vehicle, OmegaCat Reinsurance Ltd.OmegaCat Reinsurance Ltd. was registered in November 2018 along with a holding company OmegaCat Holdings Ltd.OmegaCat Reinsurance Ltd. was then licensed as read the full article →

NCM Re UK sidecar transaction renews at slightly larger $77m for Neon

Lloyd’s and Bermuda insurance and reinsurance company Neon Underwriting has successfully renewed its UK insurance-linked securities transaction, which is akin to a sidecar, with a slightly enlarged $77 million issuance of notes from the NCM Re (UK PCC) Ltd vehicle.Last year, Neon was the first to register and receive approval read the full article →

Non-traditional capital “cracked the moat” of Lloyd’s: Carnegie-Brown

Non-traditional capital, managed by insurance-linked securities (ILS) funds or by more traditional underwriters, has "cracked the moat" of the Lloyd's insurance and reinsurance market and is unlikely to leave, but it's still not clear the market has developed its strategy on how best to take advantage of it.Speaking at Lloyd's read the full article →

Lloyd’s is still capital efficient, but ILS can make it more so: Vario

With Lloyd's of London market participants generally beginning to view the idea of the insurance-linked securities (ILS) having more involvement in and access to Lloyd's as a positive, or at least inevitable, they should be looking to ILS as one way to increase the capital efficiency of their operations in read the full article →

Hannover Re: $1.5bn of 2018 cat bonds generate low-risk margin for reinsurer

German reinsurance giant Hannover Re said today that the approximately $1.5 billion of catastrophe bonds it has facilitated the issuance of for its clients help to deliver low-risk and attractive margins, while attracting new clients and maintaining existing relationships.Hannover Re has become a key facilitator for the catastrophe bond and read the full article →

Lloyd’s puts ILS investigations on hold for now

The Lloyd's market has put its investigations into the potential use of insurance-linked securities (ILS) to protect its Central Fund on-hold for the moment, according to CFO John Parry.