NormanMax gets more parametric sensor tech with FloodFlash acquisition
NormanMax Insurance Holdings, the US based parametric insurance and reinsurance group that operates the first pure-parametric syndicate at Lloyd’s, has added to its sensor-based technology for parametric risk transfer with the acquisition of the UK's FloodFlash. FloodFlash is a flood risk focused insurtech that offers an innovative sensor-based approach to parametric read the full article →
Munich Re estimates LA wildfire loss of €1.2bn, reports slight pull-back at Jan renewals
Global reinsurance giant Munich Re has estimated that the January 2025 wildfires in Los Angeles, California could cost the company around €1.2 billion in losses, while also reporting today that it pulled-back slightly at the January renewals and discontinued business that did not meet its targets. Munich Re today reported another read the full article →
TWIA sets PML at $6.227bn for 2025, to require $4.227bn of reinsurance & cat bonds
The Board of the Texas Windstorm Insurance Association (TWIA) met today and one item up for discussion was the setting of the 1-in-100 year probable maximum loss (PML), a critical figure for defining its funding needs for the hurricane season and therefore its purchases of reinsurance and catastrophe bonds for read the full article →
W. R. Berkley’s Lifson Re sidecar grows to $418m for 2025, quota share rises to 32.5%
The Lifson Re collateralized reinsurance sidecar structure is set to be even more valuable in 2025 to owner W. R. Berkley Corporation, the US headquartered insurance holding company, as the Lifson Re sidecar has been capitalised to a higher level for this year, while the quota share cession rate has read the full article →
Future of cyber ILS market hinges on evolving to meet challenges: Gallagher Securities
According to Gallagher Securities, the specialist insurance-linked securities (ILS) and investment banking arm of reinsurance broker Gallagher Re, the future of the cyber ILS market is not a question of growth, but rather how quickly the market can evolve to meet evolving opportunities and challenges. As the cyber ILS market continues read the full article →
Reserves ceded to life & annuity sidecars neared $55bn in 2023: AM Best
According to ratings agency AM Best, reinsurance leverage and surplus relief has risen significantly in recent years, driven by strong annuity premium growth, which has driven additional capital to the market, while a number of life and annuity (L/A) insurers have established sidecars to manage expansion and risk-based capitalisation. In fact, read the full article →
Vikram Bhandari appointed Head & CIO of Schroders Capital Solutions
Schroders Capital has announced that it has appointed Vikram Bhandari to the newly-created role of Head and Chief Investment Officer (CIO) of Schroders Capital Solutions, where he will be based in London, reporting to Ingo Heinen, Global Head of Business Development and Product. Schroders Capital offers clients investment strategies across diversifying read the full article →
2024 ‘another marquee year of returns’ for cat bond managers: Kepler
Catastrophe bond managers produced "another marquee year of returns" in 2024 and once again experienced a strong 12 months of inflows, according to analysis by Kepler Absolute Hedge, a research and data-led provider of insight into hedge fund strategies. All in all, across the wider alternative UCITS investments fund space, assets read the full article →
Berkshire Hathaway sees $1.3bn LA wildfire loss, wrote less property reinsurance in 2024
The Berkshire Hathaway insurance and reinsurance businesses are estimated to face losses from the Los Angeles, California wildfires amounting to as much as $1.3 billion, while the company also disclosed underwriting fewer property reinsurance premiums in 2024. The company reported, "In January 2025, several wildfires broke out in Southern California resulting read the full article →
Security First prices $250m First Coast Re IV 2025 cat bond at low-end of reduced guidance
Security First Insurance Company, a specialist Florida domestic homeowners insurer, has now secured the upsized $250 million target for reinsurance from its new First Coast Re IV Ltd. (Series 2025-1) catastrophe bond issuance, while both tranches of notes priced at the low-end of reduced guidance, Artemis can report. First Coast Re read the full article →
