AIG has “high hopes” for AlphaCat growth & demand at 1/1: Zaffino

Insurance giant American International Group, Inc. (AIG) has “high hopes” for further growth of its insurance-linked securities (ILS) and collateralised reinsurance manager AlphaCat, expecting to see “a lot of demand” for its vehicles at the renewals, Peter Zaffino said this week. Speaking at the Barclays Global Financial Services Conference on Monday, Peter Zaffino, the President…

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Global Climate Groups Issue Guidance To Finance Giants on Aligning with Paris Agreement Goals

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A letter to all major global banks signed by major green groups titled “Principles for Paris-Aligned Financial Institutions” ahead of Climate Week. The focuses are climate impact, fossil fuels and deforestation. Q2 2020 hedge fund letters, conferences and more ‘Paris Principles’ document lays out steps needed to transform finance commitments into action Pressure To Commit […]

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Alternative reinsurance capital flat at $91bn through Q2 2020: Aon

The amount of alternative and insurance-linked securities (ILS) capital in the global reinsurance market remained flat through the second-quarter of 2020 at $91 billion, according to the latest data from broker Aon. Overall, global reinsurance capital increased through the second-quarter of 2020, as traditional reinsurer capital levels recovered from the hit to their assets caused…

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QBE says cat reinsurance could pay $100m of UK BI after test case ruling

Following yesterday’s judgement by the UK High Court that found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, Australian insurer QBE has said it could recover up to US $100 million of UK BI claims from its catastrophe reinsurance. The judgement came through yesterday and while…

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Hurricane Sally intensifies to Cat 2, 105mph winds on approach to landfall

Hurricane Sally made a last attempt to strengthen as it wobbled slowly towards the north Gulf Coast and has now intensified into a Category 2 storm, with sustained winds reaching 105 mph and higher gusts being reported. It changes the outlook a little for the insurance, reinsurance and insurance-linked securities (ILS) sector, from the lower…

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Nikola’s Trevor Milton will end up in jail for “fraud”: Whitney Tilson

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Whitney Tilson’s email to investors discussing Enrique Abeyta on CNBC; Stick a fork in Nikola Corporation (NASDAQ:NKLA); Short report on Brookfield Property Partners; Carson Block and GSX Techedu; Penumbra’s Catheter Fail; Theranos’ Holmes May Pursue ‘Mental Disease’ Defense. Q2 2020 hedge fund letters, conferences and more 1) My colleague Enrique Abeyta was on CNBC last […]

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