Financial
RenRe could raise $1.125bn, as equity offering prices at discount
RenaissanceRe, the Bermuda-headquartered reinsurance company and third-party capital manager, may take as much as $1.125 billion of additional capital from its new equity raise, although the public offering priced at a discount to yesterday’s close. As we reported yesterday, RenaissanceRe (RenRe) launched a public offering of its common shares and at the same time a…
Read MoreUnited (UPC) grows cascading cat reinsurance limit, renews quota share
United Insurance Holdings (UPC Insurance) has increased the size of its catastrophe reinsurance program for 2020, buying additional cascading limit to cover multiple events and renewing its core quota share arrangement. United (UPC) focused on traditional and collateralised sources of reinsurance for its 2020 renewal, opting not to renew its catastrophe bond earlier this year…
Read MoreCovid-19 BI markdowns drive private ILS funds to April decline: ILS Advisers
Markdowns due to potential business interruption claims from the Covid-19 pandemic caused some private ILS or collateralised reinsurance funds to decline during the month of April, while pure catastrophe bonds outperformed, ILS Advisers said today. April 2020 saw the average ILS fund return drop to a negative -0.18%, according to the Eurekahedge ILS Advisers Index.…
Read MoreAXA cites BI as “material” in EUR 1.2bn Covid-19 P&C loss estimate
Insurance and reinsurance group AXA has cited business interruption claims as one of the “most material impacts” in its new forecast for EUR 1.2 billion of losses in its property and casualty (P&C) businesses due to the Covid-19 pandemic. AXA has been a significant purchaser of reinsurance protection in recent quarters and also cedes a…
Read MoreAchmea seeks $90m Windmill II Re cat bond to renew & upsize coverage
Dutch headquartered European market focused insurance group Achmea has returned to the catastrophe bond market to sponsor a roughly $90 million Windmill II Re DAC (2020) transaction, which will be the companies third cat bond transaction. The Windmill II Re DAC transaction is being issued using a new Ireland domiciled special purpose vehicle and this…
Read MoreRiots designated a catastrophe in multiple-states, a first for PCS
Rioting and civil commotion across the United States has now been designated as a catastrophe event in multiple-states by PCS, the first time the industry loss data aggregator has done so in its history. As we explained earlier this week, the ongoing situation of riots and civil commotion affecting numerous cities across the U.S. could…
Read MoreICCR “Investment Group” On A Re-commitment to “Racial Justice”
As our country collectively shudders at this most recent in a series of racial flash points – the very public and cruel execution by Minneapolis…
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Read MoreLearning from Polen Capital
One of the keys to sound investing is having the right information. Its everywhere around us; we just need to know where to look. One…
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Read MoreDan Celia: Markets Will Remain Uncertain All Year
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is giving his take today on why investors and analysts shouldn’t expect much momentum in the markets for…
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