reinsurance

Blackstone Alternative Asset Management, the hedge fund solutions unit of Blackstone, has trimmed back its holding in a strategy managed by Aeolus Capital Management Ltd., while one managed by PIMCO has shrunk slightly on valuation changes.

According to new research from Ross S. Stein, Ph.D., Temblor, Inc., a catastrophe modeling company specializing in seismic hazard and risk assessment, and Shinji Toda, Ph.D., International Research Institute of Disaster Science, Tohoku University, the insurance, reinsurance and insurance-linked securities (ILS) markets may be underestimating the hazard associated with some earthquake aftershocks.

Global reinsurance company SCOR has named Stuart McMurdo as its next CEO of Reinsurance for the Property & Casualty (P&C) division of the company, as Michel Blanc will retire in January 2023.

The global reinsurance market could take “several years” to regain its confidence in Florida and appetite to underwrite more business there, as uncertainty remains over how effective recent property insurance reforms will be, according to analysts at KBW.

Elementum Advisors, LLC, the insurance and reinsurance linked asset manager, has added some new investors to its high-yield insurance-linked securities (ILS) fund strategy in 2022, allowing the investment manager to capitalise on reinsurance market dislocation, according to Tony Rettino.

The Hanover Insurance Group, Inc. is already looking to upsize its first ever catastrophe bond, with the Commonwealth Re Ltd. (Series 2022-1) US named storm issuance now targeting $150 million of reinsurance protection for the US primary insurer.

Capital strength will support global reinsurance firms through the 2022 Atlantic hurricane season, according to Fitch Ratings, but a significant loss or number of major events could make things more challenging, something that the still limited amount of retrocession in the market could exacerbate, it seems.

Specialty insurance and reinsurance underwriter the Canopius Group has entered the 144A catastrophe bond market for the first time, seeking $75 million or more in peak US catastrophe reinsurance protection with a debut Finca Re Ltd. (Series 2022-1) transaction.

Here are the ten most popular news articles, week ending June 12th 2022, 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.

Despite the fact the global specialty insurance and reinsurance underwriter announced a withdrawal from underwriting property reinsurance business, AXIS Capital intends to continue to build out its insurance-linked securities (ILS) operations, under the AXIS ILS brand.