RenaissanceRe to grow DaVinciRe firepower with $300m private debt issuance
RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, is planning to further expand the balance-sheet of its DaVinciRe sidecar-like third-party capitalised reinsurance joint-venture through a $300 million private debt issuance. In a private debt offering, DaVinciRe Holdings Ltd. has agreed to sell an aggregate principal amount of $300 million read the full article →
Hiscox reports record ILS fee income of $128m, benefits from $460m of inflows
Hiscox ILS, the dedicated insurance-linked securities (ILS) management arm of the global re/insurer, generated a record level of third-party reinsurance capital related fee income in 2024, helped by strong performance fees and significant new inflows during the year. Over the course of 2024, Hiscox's ILS division generated $128.2 million of fee read the full article →
Swiss Re says LA wildfire loss below $700m, grows P&C Re 7% at Jan renewal
Global reinsurance giant Swiss Re disclosed that it anticipates losses from the January 2025 wildfires in Los Angeles, California will be below $700 million, while also reporting strong growth at the January renewal season for its property and casualty reinsurance business. Swiss Re saw its group net income rise to $3.24 read the full article →
NCIUA aims to nearly double Cape Lookout Re 2025-1 cat bond to $600m
The North Carolina Insurance Underwriting Association (NCIUA) is set to significantly upsize its latest catastrophe bond, with what was initially a $350 million Cape Lookout Re Ltd. (Series 2025-1) issuance now targeted to provide almost double that in reinsurance, at a $600 million issuance size, Artemis has learned. Earlier this month, read the full article →
Tropical cyclone risk could be increasing in the Northwest Pacific: Chaucer
According to global specialty insurance and reinsurance group Chaucer, evidence from observational data and climate models shows that tropical cyclones, known as typhoons in the Pacific, are showing signs of being influenced by climate change, with a notable trend of their peak intensity shifting northward in the Northwest Pacific. In a read the full article →
AXIS registers Monarch Point Re casualty collateralized insurer for 2025
AXIS Capital, the specialty insurance and reinsurance company, has registered a fourth collateralized insurer class of company in Bermuda to support further expansion of its Monarch Point Re casualty insurance-linked securities (ILS) platform in 2025. AXIS Capital teamed up with sector focused investor Stone Point to launch Monarch Point Re in read the full article →
Floodbase raises $5m in funding to advance parametric flood insurance solutions
Floodbase, a specialist in parametric flood risk, has raised $5 million in investment funding, in a round led by Ecosystem Integrity Fund (EIF) with participation from Pulse Fund, with the company planning to use the funds to accelerate the development of its flood insurance programs. Led by its CEO, Bessie Schwarz, read the full article →
Evolving cat models & shifts in climate driving attraction towards ILS: Twelve Securis
According to Twelve Securis, the specialist insurance-linked securities (ILS) manager, the combination of advancements being seen in catastrophe modeling, along with shifting climate patterns, and the ability to generate uncorrelated returns, is making ILS an increasingly attractive investment amid a rapidly changing risk landscape. Twelve Securis was formed in February following read the full article →
Munich Re retrocession and sidecar program stable at $1.55bn for 2025
Munich Re has renewed its retrocessional reinsurance program arrangements to provide $1.55 billion in protection for 2025, utilising both traditional retro and capital markets through its sidecars and catastrophe bonds at a stable level with the prior year. Munich Re’s collateralised reinsurance sidecar structures have been renewed at $650 million in read the full article →
State Farm pegs LA wildfire loss at $7.6bn, with $212m retained after reinsurance
US primary insurance giant State Farm has said that its direct losses from the Los Angeles, California wildfires are currently estimated at $7.6 billion, but after significant reinsurance recoveries only $212 million is expected to be retained. State Farm has about the largest exposure to the LA wildfires and its loss read the full article →
