Financial
Stimulus check round 2: Where do we stand?
The situation involving a round 2 of IRS stimulus checks continues to evolve. It seemed like there was no chance for a second round of…
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Read MoreIRC: PPP Fixes Give Independent Restaurants Hope
Independent Restaurant Coalition: Paycheck Protection Program (PPP) Fixes Give Independent Restaurants Hope Q1 2020 hedge fund letters, conferences and more WASHINGTON, D.C. — Today, the…
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Read MoreFlorida Citizens pays 20% more risk-adjusted, for 53% smaller renewal
Florida’s Citizens Property Insurance Corporation experienced a challenging reinsurance renewal overall it seems, resulting in the insurer of last resort buying significantly less coverage than had been planned and paying 20% more, on a gross risk adjusted basis than the prior year. Florida Citizens had originally been hoping to purchase as much as $1.3 billion…
Read MoreDividend Stock Purchase: Lanny’s May 2020 Summary
May finished off another positive month in the stock market. My dividend stock purchase activity was not as significant, given most companies I want have been rising in price! The market is unpredictable, to say the least. Time to look at my dividend stock purchase activity in May! Investing consistently in Dividend Income Stocks allows…
Read MoreRiot losses said up to $1bn in U.S., retentions may protect reinsurance
The rioting and civil commotion across the United States in recent days is thought likely to cause insurance market losses of as much as $1 billion, but with retentions generally quite high on exposed programs, carriers may not be able to pass on too much of their losses to reinsurance capital. As we reported yesterday,…
Read MoreJanuary 2021 reinsurance renewals to see rates up 10% at least: PartnerRe
The January 2021 reinsurance renewal season is likely to see rates rising broadly by at least 10%, with firming or hardening momentum being held right through the rest of this year, according to executives from PartnerRe. The Wells Fargo Securities equity analyst team, led by senior analyst Elyse Greenspan, held a call with PartnerRe executives…
Read MoreTotusRe proposes multi-peril & pandemic public/private risk transfer structure
TotusRe is proposing the use of a cell insurance structure, alongside public and private market participation and the use of retrocessional reinsurance, as a solution to cover multiple risks of national importance, including pandemics. TotusRe has been borne out of the collaboration of Liz Foster, Non-Executive Director of The Society of Insurance Broking, and James…
Read MoreArch tried for record sized Bellemeade Re mortgage ILS, but pulled it
Arch Capital Group, the Bermuda headquartered specialist insurance and reinsurance underwriter, had tried to come back to the insurance-linked securities (ILS) market with a new Bellemeade Re 2020-1 Ltd. issuance of mortgage insurance-linked notes, a deal that would have been the largest ever example of a mortgage ILS issuance. But we understand that the transaction,…
Read MoreEverest Re’s premiums ceded to Mt. Logan Re rise 38% in Q1
Global insurance and reinsurance group Everest Re made increased use of its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the first-quarter of 2020, with premiums ceded to the structure rising 38% year-on-year. The acceleration in terms of premiums being ceded to third-party reinsurance capital investors through the Mt. Logan Re segregated account and…
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