reinsurance

Insurance giant AIG is making good on its promise to develop an even more third-party capital backed structure for its Private Client and high-net-worth property business, partnering with investor Stone Point to launch a new MGA.

In a sign that the catastrophe bond market has indeed found an equilibrium and that pricing levels have potentially peaked, at least for issuers with strong underwriting track records, global reinsurance company Ariel Re is seeking to secure even lower pricing for its latest Titania Re Ltd. (Series 2023-1) cat bond.

Artemis has learned that international specialty insurance and reinsurance group Chaucer plc, part of the China Re group of companies, has successfully placed a renewal of its Thopas Re fully-collateralized reinsurance sidecar structure for 2023.

On Friday February 10th, more than 380 attendees at our annual ILS NYC 2023 conference in New York heard industry expert speakers explaining the significant potential for the catastrophe bond and ILS market to reach new heights this year and beyond.

The same reinsurance renewal pressures experienced at the January renewals this year are anticipated to persist for the April and July 1st renewal seasons for buyers in Asia Pacific, according to Aon Reinsurance Solutions APAC CEO George Attard.

Reinsurance broker Gallagher Re has made a key hire in its Global Practice for Public Sector & Climate Resilience Solutions, adding Gian Sandosh Semadeni from CelsiusPro as its new Parametric Solutions Lead.

At the end of 2022, the Bermuda Stock Exchange (BSX) was home to more than 89% of the world’s catastrophe peril linked reinsurance securities, which amounted to roughly $34 billion of insurance-linked securities (ILS) risk capital outstanding.

United Insurance Holdings Corporation has significantly increased its hurricane Ian gross loss estimate, adding over $500 million to the total, with much of that to be covered by reinsurance, but also causing the company to announce that United Property & Casualty Insurance Company is now expected to become insolvent.

Australian insurer IAG has reported its first-half results for the 2023 fiscal year, which runs to the end of June and has updated on its experience with the recent New Zealand floods, after which it now expects to have eroded roughly 73% of the deductible sitting beneath its aggregate reinsurance.

Here are the ten most popular news articles, week ending February 12th 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.