Investments

Strategic Risk Solutions, Inc., a provider of insurance, reinsurance and captive management and consulting services, has made another key hire as it pursues insurance-linked securities (ILS) business, appointing Anna Pereira as Senior Vice President, Insurance-Linked Securities (ILS). Pereira will take up the role at Strategic Risk Solutions (SRS) from March 1st 2021 and will be…

According to rating agency A.M. Best, catastrophe losses suffered in Texas from the US winter storm, which has been named winter storm Uri, may reach record levels, suggesting the estimates of significant insurance and reinsurance market losses are likely to come true. As we explained on Friday, catastrophe risk modelling specialist Karen Clark & Company…

American International Group (AIG) has reduced its aggregate reinsurance tower’s limit to $2.05 billion for 2021, down from $2.5 billion in 2020. The 18% reduction in limit for AIG’s aggregate reinsurance tower is not the whole picture though, as the global carrier has also lowered the bottom-end as well, with the aggregate property catastrophe reinsurance…

The insurance-linked securities (ILS) marketplace could put itself at risk of a potentially damaging “credibility gap” if it over promises on environmental, social and governance (ESG) alignment, Synpulse Management Consulting has warned. During the third-quarter of 2020 we teamed up with boutique consulting firm Synpulse Management Consulting to conduct a survey of the maturity of…

The ongoing renegotiation and fine tuning of terms and conditions related to insurance-linked securities (ILS) capital deployment continued at the key January reinsurance renewals, with ILS fund managers gaining some more ground. Terms and conditions had weakened across the reinsurance and ILS market during the prolonged period of softening of market pricing and rates. Since…

The Australian Reinsurance Pool Corporation, which administers Australia’s terrorism insurance scheme, has renewed its retrocessional reinsurance program with $3.475 billion of coverage, with limit secured slightly up on the prior year as it reduced its retention by $25 million. The $3.475 billion retrocessional reinsurance program works in tandem with ARPC’s net assets and a $10…