Investments
5 Investing Insights From Charlie Munger (2020)
Charlie Munger is an amazing investor and Warren Buffett’s partner at Berkshire Hathaway. He recently gave an interview to CalTech alumni that has a lot to teach us about investing. There were many insights for investors in that interview, but I want to focus on one segment, where a viewer asks Charlie: Q3 2020 hedge […]
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Read More‘It’s Easy Money’: Nigerian Scammer Laughs about Huge Sums Stolen from COVID Welfare Programs in Bombshell Interview
State unemployment agencies aren’t especially responsible stewards of taxpayer dollars even in the best of times. Yet when the COVID-19 crisis and government lockdowns put tens of millions of Americans out of work, Congress responded by pouring more taxpayer money into state-level unemployment systems. Q3 2020 hedge fund letters, conferences and more COVID-19 Welfare Expansion […]
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Read MoreBlack Swan Protection For Tesla
At the end of May, Elon Musk‘s SpaceX sent two astronauts into space – the first manned launch from U.S. soil in nine years. Also at the end of May, Tesla (TSLA) shares made our list of top ten names. The stock was up 256% over the next six months. Tesla Shares Continue To Rocket […]
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Read MoreAlmost $20bn of reinsurance capital raised, more to come in 2021: Flandro
Close to US $20 billion of new capital was raised by the global reinsurance market and new start-up entrants in 2020 and there is more to come in 2021, as the need for capital persists, according to David Flandro of HX Analytics. Thanks to its ability to raise fresh capital, the reinsurance market was not…
Read MoreILS demonstrates resilience, reinsurance capital grows at 1/1: Guy Carpenter
The insurance-linked securities (ILS) market and in particular catastrophe bonds demonstrated their resiliency around the key 1/1 January reinsurance renewals, with significant capital attracted to new cat bond issues, Guy Carpenter has said. The global reinsurance market ended the year with some US $397 billion of traditional capital, which is slightly up on year-end 2019,…
Read MoreMS Amlin behind Phoenix 1 Re, the first Asian cat risk focused sidecar
It turns out that MS Amlin was the sponsor behind the recently completed Phoenix 1 Re Pte. Ltd. (Series 2021-1) collateralised reinsurance sidecar transaction, which appears to have been the first sidecar to be solely focused on Asian property catastrophe risks. MS Amlin said today that its Singapore based subsidiary MS Amlin Asia Pacific Pte.…
Read MoreOn complex renewals, non-concurrency & the need for tech in reinsurance
The January 2021 reinsurance renewals were a more complex affair, which resulted in a trend to more non-concurrency in placements, according to broker Guy Carpenter. Which we believe suggests a need for the reinsurance market to embrace modernisation in the renewal process sooner, rather than later. Despite an earlier start to the January 2021 renewals…
Read MoreFEMA renews $1.153bn of traditional NFIP flood reinsurance for 2021
The U.S. Federal Emergency Management Agency (FEMA) has renewed the National Flood Insurance Program’s (NFIP) traditional reinsurance program at the January renewals, opting for a downsized $1.153 billion of coverage, but from an expanded panel of reinsurers. As we revealed back in September, FEMA was back in the reinsurance market and seeking expressions of interest…
Read MoreRetro issues moderated by new capital, leaving disappointment for some
The expected capacity shortage in the retrocessional reinsurance market did not materialise to the degree anticipated at the January 2021 renewals, resulting in a market that still firmed considerably, but did not experience the hardening many had been hoping for. New capital has played a role here, in moderating the eventual rate increases seen across…
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