reinsurance

Bermuda headquartered reinsurance firm RenaissanceRe continues to expand its Capital Partners team, adding Keenan Press from Horseshoe as a new VP to lead on investor due diligence, as well as two new analysts in recent weeks.

AUB Group, an Australian listed financial services group comprised of insurance brokers and underwriting agencies, is to acquire near 200 year old insurance and reinsurance broking group Tysers, gaining wholesale Lloyd’s, reinsurance and some insurance-linked securities (ILS) expertise.

When a renewal comes up for consideration for the first catastrophe bond transaction to be sponsored by Jamaica, there is already some discussion regarding the need for a larger cover to be in place, or for it to be expanded to cover additional Caribbean island nations, a World Bank Managing Director has said.

Additional forecasts of activity levels for the 2022 Atlantic hurricane season continue to suggest an above-average year of tropical storm and hurricane formation is ahead.

The latest catastrophe bond from Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has had its pricing hiked considerably, with the coupons for both tranches of the still $300 million target Torrey Pines Re Ltd. (Series 2022-1) deal rising well above their initial guidance.

Here are the ten most popular news articles, week ending May 8th 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.

Commenting on the potential for legislative reform in the challenged property insurance market of Florida, RenaissanceRe CEO Kevin O’Donnell remarked that a reduction in the FHCF attachment point will change nothing for his reinsurance firm’s view of risk in the state.

France headquartered globally active reinsurance firm SCOR has increased its third-party capital support in the first-quarter of 2022, taking the capital managed under its collateralised reinsurance sidecar platform to US $400 million.

The price guidance for American Integrity Insurance Company of Florida, Inc’s fifth catastrophe bond issuance, Integrity Re Ltd. (Series 2022-1), has risen again, with the coupon now looking likely to be fixed above guidance.

A new Yosemite Re Ltd. (Series 2022-1) catastrophe bond has been launched with a target to secure at least $75 million of multi-peril US reinsurance from the capital markets, to protect Core Specialty-owned insurers under the StarStone brand to begin.