Investments

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist underwriter, has released a forecast of its potential first-quarter losses due to the Covid-19 coronavirus pandemic, saying it expects up to $145 million of losses across its property & casualty insurance, reinsurance and mortgage insurance lines of business. Arch is the first of the Bermudian…

U.S. mortgage insurers are likely to face challenges in issuing new mortgage insurance-linked securities (ILS) at this time and their reinsurance costs are expected to rise on the back of the Covid-19 coronavirus pandemic, according to A.M. Best. The rating agency highlights the challenging situation facing the largest private mortgage insurers in the United States,…

France headquartered global reinsurance company SCOR has quickly relaunched its delayed Atlas Capital Reinsurance 2020 DAC (Series 2020-1) catastrophe bond transaction, bringing it back to market at a slightly smaller size of $150 million, but with pricing boosted to better compensate and attract investors. SCOR had returned to the catastrophe bond market in mid-March with…

Absent some kind of government intervention that forces a raft of claims into the insurance and reinsurance industry, David Flandro, Managing Director of Hyperion X Analytics, believes that there is no reason to expect the industry loss from Covid-19 will reach the levels of a large catastrophe loss year. Speaking with analysts from Morgan Stanley…

Heritage Insurance Holdings, Inc., the Florida focused property and casualty insurer, has benefited from more reinsurance recoveries under its Citrus Re catastrophe bond series of deals, with more tranches seeing principal reductions, one of which has now been allowed to mature. Heritage has been making reinsurance recoveries under some of its older catastrophe bonds, as…

Sompo International, the Bermuda headquartered specialty property and casualty insurance and reinsurance provider, is exiting the Lloyd’s market, saying that while it aims for significant growth in London and Europe it feels a consolidated company market platform is the way to go. The move will see Sompo International halt all underwriting within the Lloyd’s of…

Tremor Technologies Inc., the technology-based programmatic risk transfer marketplace provider, has already cleared a trade in just the second holding of its new weekly auctions of industry loss warranties (ILW’s). Tremor launched the weekly online industry loss warranty (ILW) auctions from April 2nd 2020, aiming to bring together protection buyers with reinsurance and retrocession capacity…