Financial

FedNat Holding Company, the U.S. primary insurance carrier group, has again said that it expects the latest hurricane to hit the United States will trigger a catastrophe reinsurance recovery for the firm, as losses from Delta are expected to exceed its aggregate retention. FedNat estimates that aggregate gross losses it suffers from hurricane Delta will…

The New Zealand Superannuation Fund (NZ Super Fund), one of the government pension investment providers, has increased its allocations to insurance-linked securities (ILS) and reinsurance linked investments by almost 60% in the last year. The NZ Super Fund has increased its allocations to the two leading ILS fund managers that it works with, Elementum Advisors…

CoreLogic, the property risk modelling, data and analytics company, has hired experienced insurance-linked securities (ILS) and reinsurance executive Pierre Wiart in Australia, to become its regional Head of Consulting and Risk Management. Wiart has most recently been consulting on insurance-linked securities with an Australian investment client, prior to which he worked at catastrophe risk modeller…

New York based asset manager Rosh Capital Management, LP has raised $600 million from a private family office to launch Rosh Re Ltd., a Bermuda based reinsurance company that will have an investment oriented approach. Rosh Capital Management had established a total-return or hedge fund focused reinsurance initiative back in 2018. It’s not clear whether…

Munich Re is forecasting more hardening across the reinsurance market at the upcoming January reinsurance renewals, with the company saying this morning that there is a need to refocus on profitability. The company says that low interest rates are impacting reinsurance profits and at the same time the COVID-19 pandemic and lockdowns of economies are…

Hailstorms that struck the Central Queensland region of Australia on April 19th 2020 are now estimated to have cost the insurance and reinsurance industry A$604 million by PERILS. The insurance and reinsurance industry loss reporting agency had not given a loss estimate for this particular hailstorm event before, as initial discussions with the market suggested…

Reinsurance giant Hannover Re’s German subsidiary E+S Rückversicherung AG is expecting rising prices and improving terms at the renewals of German reinsurance business, including in natural catastrophe risks. The company says that a global contraction in reinsurance capacity is making itself felt in Germany as well, so Hannover Re believes similar market forces will be…