Financial

A handful of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions have experienced some further adverse development related to 2019’s Japanese typhoon Hagibis in June, we understand. The adverse development has been sufficient to drive a few ILS fund positions negative for the month of June 2020, we’ve learned, as these positions were significant…

Severe thunderstorms, or convective weather, in the United States has dominated insured natural disaster losses for the first-half of 2020, according to reinsurance firm Munich Re. The company said that severe thunderstorms, tornadoes, hail storms and flash floods, all parts of the convective weather bucket, saw 8 billion dollar insured loss events in the first-half…

Bermuda headquartered reinsurance firm PartnerRe has reported a loss for the second-quarter of 2020 in its non-life underwriting business, as the majority of a $320 million hit from the Covid-19 pandemic fell to that side, some of which was in P&C business interruption. Overall, PartnerRe reported $338 million of Covid-19 pandemic related impacts across its…

Bermudian specialist insurance and reinsurance firm AXIS Capital has reported another year-on-year decline in the level of fee income earned through the use of third-party and insurance-linked securities (ILS) capital within its business for the second-quarter of 2020. In Q1 2020 AXIS Capital ceded 31% fewer premiums to its “other strategic capital partners” group, where…

Lancashire Capital Management Limited, the third-party capital collateralised reinsurance underwriting arm of specialty insurance and reinsurance group Lancashire Holdings, has delivered higher fee income to its parent in the first-half of 2020, as profits of the unit rise alongside its increased assets under management. Lancashire Capital Management grew roughly 20% over the course of 2019,…