reinsurance

The increased digitalisation and interconnectedness of the world has altered the risk profile of portfolios, meaning that insurance-linked securities (ILS) funds are already holding cyber risk, they’re just not getting paid for the exposure, according to DeNexus, a specialist provider of software for cyber risk quantification for large industrial and critical infrastructure corporates.

Southern Fidelity Insurance Company, the Florida focused primary insurance carrier that counts investment manager Hudson Structured Capital Management Ltd. as a key backer, appears likely to wind-down after failing to secure the reinsurance it needs and subsequently losing its Demotech rating.

Leadenhall Capital Partners LLP, the London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager, has announced the promotion of long-term employee and partner Lorenzo Volpi to the position of Deputy CEO.

The African Risk Capacity (ARC) will make at least a US $14.2 million payout to benefit the people of Malawi, after the country’s parametric drought insurance coverage was triggered.

The CATCo retrocessional reinsurance investment portfolio experienced more favourable development on a side pocket set for the 2019 underwriting year before its final winding down and distribution of the remaining capital to investors was complete.

Florida headquartered, nationally expansive U.S. property casualty insurer, Heritage Insurance Holdings, Inc., is set to retain more risk this year as the company announces the details of its 2022-2023 reinsurance renewal.

AXIS Capital, the global insurance and reinsurance underwriter, is refocusing its reinsurance division AXIS Re, with a new CEO named in Ann Haugh and an announcement that it is exiting the property reinsurance business as it continues to reduce catastrophe volatility.

Global reinsurance giant Swiss Re is making headway with the issuance of its newest catastrophe bond, the $150 million targeted US hurricane focused Matterhorn Re Ltd. (Series 2022-2) deal and it seems zero-coupon and multi-year protection are proving most economical.

Colorado State University’s tropical meteorology team led by Phil Klotzbach has increased its forecast for activity in the 2022 Atlantic hurricane season, saying they now anticipate a “well above-average” hurricane season ahead also raising its landfall probability forecasts.

The first catastrophe bond to be sponsored by insurance group Core Specialty is a rare excess and surplus (E&S) focused transaction, the company said as it hailed completion of its new $65 million Yosemite Re Ltd. (Series 2022-1) catastrophe bond alongside its reinsurance renewal.