Investments
Hiscox’s third-party capital dips, but ready to capitalise on rate increases
Insurance and reinsurance firm Hiscox Group has announced a new capital raise to help the company be better positioned for growth opportunities and rate increases across its reinsurance and U.S. wholesale businesses, but at the same time third-party capital support at the firm has dipped. In reporting its first-quarter trading statement, Hiscox revealed that it…
Read MoreTwo-months of retroactive COVID-19 BI claims could wipe out 50% of re/insurer capital
A new report from A.M. Best highlights the potential damage that any legislative moves to force retroactive business interruption claims into the insurance and reinsurance industry could cause, saying that as much as 50% of re/insurer capital could be wiped out with just two months worth of claims. The business interruption questions related to the…
Read MoreAIG’s new Lloyd’s syndicate – a reinsurance sidecar to its private client book
American International Group, Inc. (AIG) officially launched its latest syndicate at Lloyd’s yesterday, with Lloyd’s Syndicate 2019 set to be the largest ever launch in that market with a target for around $1 billion of gross premiums to be written. Not only is it the largest syndicate to launch in the Lloyd’s market, syndicate 2019…
Read MoreBerkshire Hathaway will write pandemic cover “at the right price”, Buffett says
For Berkshire Hathaway, the insurance and reinsurance underwriting conglomerate led by Warren Buffett, it’s not simply a question of carefully crafted exclusions when it comes to pandemic risks, for the so-called Sage of Omaha is perfectly happy to underwrite it, as long as the price is right. Berkshire Hathaway reported its first-quarter results on Saturday…
Read MoreLanny’s Dividend Stock Purchase Activity – April 2020
April was overall another positive month for the market, after a wild ride down in the mid-to-end of March. There were dividend suspensions across the retail industry and even dividend cuts, including one from a major oil player that did not cut their dividend since the World War days. Time to dive into April’s dividend…
Read MoreRMS launches model platform updates & new HD Euro SCS risk model
Catastrophe risk modelling specialists RMS have announced the launch of a range of product updates to its Risk Intelligence platform, including a new version of its Risk Modeler tool, updated models, plus new high definition risk models covering the European severe convective storm peril across 17 countries in the region. With severe convective and thunderstorm…
Read MoreAXIS’ third-party capital income drops, as cessions to investors decline
Bermudian specialist insurance and reinsurance firm AXIS Capital reported a drop in fee income earned from the use of third-party and insurance-linked securities (ILS) capital within its business, as cessions to investors declined considerably in the first-quarter of 2020. This was to be expected at the end of this quarter, as we reported in February,…
Read MoreAlphaCat delivers $10m Q1 income to AIG, ILS AuM dips likely on Covid-19
AlphaCat Managers, the insurance-linked securities and collateralised reinsurance investment manager entity of insurance giant American International Group’s (AIG) delivered its parent $10 million of income for the first-quarter of 2020. At the same time, the amount of ILS and reinsurance assets under management of AlphaCat Managers dipped slightly in the period, to end the first-quarter…
Read MoreAllstate returns with second Sanders Re II cat bond of 2020
Insurance giant Allstate has returned to the catastrophe bond market for a second time in 2020, something the company has not done since 2017. With a $150 million Sanders Re II Ltd. (Series 2020-2) transaction that seeks Florida specific multi-peril reinsurance for the insurers subsidiaries in the state. It’s the first time Allstate has returned…
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