Financial

Global risk-adjusted property catastrophe reinsurance rates-on-line rose by an estimated 6% at the January 2021 reinsurance renewals, according to analysis by Howden Broking. That’s the biggest year-over-year increase in property catastrophe reinsurance rates seen in more than a decade, the broking group arm of Hyperion explained. At the same time, Howden sees retrocessional reinsurance rates…

Core Specialty, the recently launched recapitalised an rebranded excess and surplus lines (E&S) specialist underwriter, has picked Adam Tyburski, previously CUO of Spinnaker, for a key role as Co-Head of Personal Lines Fronted Programs. Core Specialty was recently born after a $610 million recapitalisation of Starstone U.S. from private equity giants including Dragoneer, SkyKnight and…

The resilience of the global reinsurance market “shone through” at the January 2021 renewals, which broker Willis Re says were less onerous than feared for ceding companies. Overall, global reinsurance capital recovered strongly in 2020 and a raft of capital raises and start-ups helped it to end the year up some 3%, according to the…

Catastrophe bond issuance reached record levels in 2020 and the busy year was topped-off with a record fourth-quarter as well, as the market demonstrated its resilience and ability to expand its relevance even under ongoing pandemic conditions, according to the latest report and data from Artemis. Our latest quarterly report on the catastrophe bond and…

Catalina Re, the reinsurance arm of legacy and run-off specialist Catalina Holdings, has hired Tom Duggan, a well-known investment analyst who previously had a focus on insurance-linked securities (ILS) among the asset classes he covered. Duggan has joined Catalina Re this month, January 2021, as a Senior Investment Manager. Previously, Duggan had been a Senior…

The January 2021 reinsurance renewals are approaching completion and it looks as if third-party and collateralized sources of reinsurance and retrocession capacity have played a key role again, with capital markets sources of funding growing across the marketplace. As expected, the January 2021 reinsurance renewals have proved to be less firm than forecast, but in…