reinsurance

Amid the increased frequency, scope, and severity of natural catastrophes, insurance-linked securities (ILS) investors stand to benefit from the greater predictability and sustainability of non-nat-cat program-based portfolios of risk, according to AM RE Syndicate.

London headquartered insurance and reinsurance group Beazley has an opportunity in the cyber underwriting space to bring in third-party capital and this could deliver an additional upside to its earnings per-share, analysts at Jefferies have said.

The Texas Windstorm Insurance Association (TWIA) has now set the target size for its new catastrophe bond at $185 million, while pricing guidance for the Alamo Re Ltd. (Series 2022-1) cat bond has narrowed towards the upper-end of the range.

An opportunity for investors to enter or upsize allocations to the catastrophe bond asset class at a time of near-record high spreads could persist right through into the third and fourth quarter of the year, according to Leadenhall Capital Partners.

Florida’s Citizens Property Insurance Corporation has now secured its latest catastrophe bond that will provide it $200 million of reinsurance protection, but pricing for the Everglades Re II Ltd. (Series 2022-1) transaction eventually settled above the initial guidance.

The insurance and reinsurance industry loss from the three major European windstorms that struck close together during the month of February 2022 has been lifted to EUR 3.61 billion by data aggregator PERILS AG.

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, saw its external capital under management rise to $6.8 billion by April, helped by the launch of its Fontana Holdings casualty / specialty lines joint venture and some other additional fund raising.

Florida’s Citizens Property Insurance Corporation had originally been seeking more catastrophe bond backed reinsurance for 2022, specifically to fill out layers of its Coastal Account reinsurance tower, but pricing feedback from investors caused the insurer to change plans and these cat bond tranches never made it to market.

Longitude Exchange, the Bermuda-based digital marketplace for trading in index-based longevity risk, and Dedomainia, a technology company offering longevity swap solutions, are to collaborate on index-based longevity hedging.

A new report from Moody’s paints a gloomy picture of rising combined ratios and elevated loss costs, because of the influence of rising inflation, soaring construction costs and more expensive labour rates, all of which reinforce the need for reinsurance and ILS pricing to cover these factors.