Retrocession news

Retrocessional reinsurance specialist investment manager Markel CATCo has bought back 1 million shares in one of the classes of its stock exchange listed fund.

The insurance-linked securities (ILS) market and alternative reinsurance capital is forecast to take a greater share market of global reinsurance by 2020, suggesting continued expansion for capital market activity in the sector, according to respondents of our first global reinsurance market survey.

Reinsurance rate increases are set to fade in 2019 leading to a broadly stable pricing environment and at the same time alternative capital and insurance-linked securities (ILS) is set to persist, according to rating agency Standard & Poor’s.

Global catastrophe loss data aggregator, Property Claim Services (PCS), is “excited” at the prospect of its county-level industry loss data for all 50 U.S. states going live in early 2019, an enhancement that could make industry loss triggers more sensitive to losses at a county level.

As Hurricane Florence bears down on the US East Coast as a category 4 storm, Luca Albertini, CEO and founding partner of Leadenhall Capital Partners warned that regardless of whether it is a market-changing loss, it could trap collateral in retro programmes.

The insurance-linked securities (ILS) market could ultimately bear as much as $18 billion of the industry loss from the 2017 hurricane events, according to rating agency A.M. Best.

Tullett Prebon, a leading electronic and voice interdealer broker and part of the TP ICAP group, has launched a new issuance and trading platform for what it has termed Insurance Linked Notes, initially featuring catastrophe industry-loss instruments that will be fully-securitised to have the benefits of secondary liquidity.

Reinsurance & ILS demand is expected to rise, but price is key, we found in our first global market survey. Reinsurance News and Artemis have teamed up to take the temperature of the global reinsurance market at what is a key time for the industry.

Insurance and reinsurance broker Aon has announced a reorganisation of the Global ReSpecialty leadership, with Bob Bisset stepping into a new role of UK Growth Leader at Aon, while Peter Stubbings has been hired from Guy Carpenter to replace him as CEO.

Digital risk trading insurtech start-up Akinova, which promises a digital platform for trading insurance and reinsurance risks and will begin with an industry-loss warranty (ILW) type product, has appointed Thomas Heise of Insurance Income Strategies (IIS) to its advisory board.