Chubb’s reinsurance recoverable leaps as Q3 catastrophes bite

Global insurance and reinsurance firm Chubb reported $925 million of pre-tax catastrophe losses for the third-quarter of 2020, which was net of reinsurance recoveries. The catastrophe loss impacts dented Chubb’s core operating income, but at the same time the carrier expanded its book by more than 5% across all its core units. Chubb broke the…

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Hurricane Zeta strengthens on approach to Louisiana landfall later today

Hurricane Zeta is forecast to make landfall in Louisiana later today, Wednesday, and the hurricane is strengthening as it tracks towards the northern Gulf Coast, with sustained winds now reaching 90 mph and a chance of the storm attaining Category 2 status before it makes landfall. Hurricane Zeta has benefited from a reduction in wind…

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Guy Carpenter’s Cerulean Re ILS platform issues $12.6m of private cat bonds

Cerulean Re SAC Ltd., the private catastrophe bond and insurance-linked securities (ILS) issuance vehicle operated by reinsurance broker Guy Carpenter and Marsh Captive Solutions, has completed another issuance and listed three tranches of Cerulean Re SAC Ltd. (Series 2020-B) notes. The Cerulean Re vehicle was launched in 2017 by Guy Carpenter’s capital markets and ILS…

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USAA increases Residential Re 2020-2 cat bond target to $400m

U.S. primary mutual insurer USAA has increased its target size for its latest catastrophe bond, with the insurer now aiming to secure as much as $400 million of multi-year, fully collateralized, multi-peril catastrophe reinsurance protection from the capital markets with its new Residential Reinsurance 2020 Limited (Series 2020-2) transaction. USAA returned to the catastrophe bond…

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Markel’s ILS revenues fall on lower fee income at Nephila

Evidence of third-quarter 2020 catastrophe loss impacts and trapped capital are seen in Markel Corporation’s third-quarter 2020 results, as the company reported reduced revenues from its insurance-linked securities (ILS) operations, primarily due to a decline in management fee income at Nephila Capital for the period. Nephila Capital, the largest dedicated insurance-linked securities (ILS) investment manager…

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RenRe’s third-party capital business hit by large losses in Q3

Large loss events in the third-quarter of 2020 dented performance at Bermuda based reinsurance firm RenaissanceRe’s third-party capital joint ventures and managed insurance-linked securities (ILS) funds, resulting in a decline in performance fees. RenaissanceRe (RenRe) had already pre-announced an expected hit to its third quarter 2020 results of operations from major catastrophe losses experienced during…

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World Bank-Cambridge Study Reveals The Impact Of Covid-19 On Financial Regulators

Covid 19 Financial Regulators coronavirus stimulus check Pelosi timeline

World Bank and University of Cambridge report highlights increasing digitalisation of financial services has accelerated the pace of regulatory innovation during Covid-19 Q3 2020 hedge fund letters, conferences and more The World Bank and the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School have today jointly published the results […]

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5 Dividend-Paying Marijuana Stocks

This is a guest contribution from Harvi Sadhra with Hashtag Investing When investors think about cannabis stocks, dividends are the last things that come to mind. Most pot stocks are unprofitable and grappling with multiple structural issues. Marijuana heavyweights such as Aurora Cannabis and Canopy Growth are posting multi-million-dollar EBITDA losses and are years away…

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