AIG buys 50% of global ILS agg limit, sees collateralized reinsurance recovering: Zaffino
AIG believes the collateralized reinsurance market is recovering and is back at its highest level, in limit terms, since 2016. In addition, the company believes it buys roughly 50% of global aggregate capacity provided by the ILS market, according to its CEO Peter Zaffino. The CEO of the global insurance giant read the full article →
Guy Carpenter says CrowdStrike is a “Kitty Cat”, industry losses to be sub-$1bn
According to reinsurance broker Guy Carpenter, CrowdStrike is not a particularly significant cyber catastrophe event and only represents a "Kitty Cat", or mid-sized catastrophe loss, while the broker estimates industry losses will be between $300 million and $1 billion. The company urges the insurance and reinsurance industry to, "re-evaluate its perspective read the full article →
BNP Paribas may acquire ILS fund manager, as it seeks to buy AXA Investment Managers
BNP Paribas, the European and international banking giant, is in exclusive negotiations with insurance and reinsurance group AXA to acquire 100% of its AXA Investment Managers division, a deal that if completed will also see a long-term partnership to manage a large part of AXA’s assets. This is relevant to the read the full article →
Second speaker announcement for Artemis London 2024 ILS market conference
Today we are pleased to announce some more speakers who will be joining our catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. Early Bird tickets for Artemis London 2024 are still available, so register soon to secure the best price attendance. For our third ILS read the full article →
Nephila’s hedging & portfolio actions in best interests of investors: Noble, Markel
Hedging and portfolio management actions undertaken by Nephila Capital, the insurance-linked securities (ILS) operation of Markel, are in the best interests of investors in the face of a potentially active hurricane season, Jeremy Noble, President of Insurance at Markel explained today. As we reported this morning, during the second-quarter of this read the full article →
TWIA reinsurance rate-on-line hits 9.6% as it seeks to control risk transfer expense
The Texas Windstorm Insurance Association (TWIA) saw the overall rate-on-line across its reinsurance and catastrophe bond program that is in-force for the 2024 into 2025 period rise to 9.6% and as risk transfer comes with higher costs attached, the insurer of last resort is looking to options to help manage read the full article →
The art of underwriting – knowing how hard to push and when to pull back: Arch CEO
According to Marc Grandisson, Chief Executive Officer of Arch Capital Group, there is an art to underwriting at this stage of the reinsurance market cycle and it's all about knowing how hard to push and when to pull back. Grandisson said during an earnings call yesterday, that Arch chose not to read the full article →
Hannover Re appoints Eberhardt as Managing Director and CUO Bermuda
Global reinsurance firm Hannover Re has announced that employee Michael Eberhardt will become its new Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda. Eberhardt is currently the Head of Hannover Re's Australian Branch and Head of its Business Center for Treaty in Australia and New Zealand. He was worked read the full article →
Miller expands capital advisory footprint in Europe with 4809 Brokers acquisition
Miller, the independent and private equity funded broking group, has announced the acquisition of a European capital advisory focused broking business that has operated at the intersection of reinsurance and capital markets, with Marc Hannebert's 4809 Brokers AG now its third continental European purchase. Hannebert, formerly CEO and a Board member read the full article →
World Bank leverages private capital, contingent credit & parametric risk transfer for REPAIR
The World Bank has approved the Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), which is designed to boost financial resilience against climate shocks for Eastern and Southern African countries and leverages private market parametric disaster insurance risk transfer alongside its contingent credit DDO solution. It's evidence of the continued innovation read the full article →
