Financial

The United States Treasury has shown in a letter that it is opposed to legislative moves that could force retroactive business interruption claims related to the Covid-19 pandemic onto the insurance and reinsurance industry. The business interruption issues related to the Covid-19 coronavirus pandemic continue to gain air time, with uncertainty over the eventual influence…

The latest in our series of Artemis Live video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets features Luca Albertini, CEO of London headquartered insurance-linked securities (ILS) and reinsurance related investments manger Leadenhall Capital Partners LLP. All of our Artemis Live video interviews can be accessed directly from our YouTube Channel and…

PGGM, the Dutch pension fund administrator and investment manager and the largest single source of assets in the insurance-linked securities (ILS) market, added a relationship with global reinsurance firm PartnerRe in 2019, as it expanded its ILS partner roster to ten. PGGM, which invests in the ILS and reinsurance market on behalf of one of…

Renaissance Re, the Bermuda-based reinsurance underwriter and manager of increasing amounts of third-party capital, believes that Covid-19 uncertainty means “substantial amounts of collateral will be trapped” at the end of 2020, the firms CEO Kevin O’Donnell has said. Trapping of collateral has always been expected, given the uncertainty over potential losses facing reinsurance and retrocession…

Reinsurance companies are set for their fourth technically unprofitable year of underwriting in a row according to rating agency Fitch, who forecast that combined ratios across the sector will rise to 103.5% due to the impact of Covid-19 losses. This has implications for insurance-linked securities (ILS) investors and ILS funds, not just in the fact…

Arch Capital Group Ltd., the Bermuda headquartered insurance and reinsurance specialist, has said that it expects the amortisation of its Bellemeade Re mortgage insurance-linked securities (ILS) transactions may be halted by an expected rise in delinquencies due to the coronavirus pandemic. But, Arch does not at this time expect that losses to its mortgage insurance…

Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter that is 30% owned by White Mountains, earned $37 million in fee revenues in 2019, which was a roughly 9% increase in revenues on the previous year. Partial owner White Mountains also disclosed recently that the Elementum ILS fund management business has…

Valuation has become an increasingly important element of assessing an investment in the insurance-linked securities (ILS) asset class, and while it’s vital to consider loss and modelling data, market intelligence plays an important role, explains JB Crozet, SVP Advisory Services & Head of London Office at Horseshoe. In the aftermath of the significant catastrophe loss…

Australian primary insurance giant Suncorp has said that completion of its catastrophe reinsurance renewal by July 1 remains on track, but highlighted that placing its aggregate reinsurance coverage could be more of a challenge to place. Suncorp’s losses from natural catastrophes and severe weather over the last year had already eroded a significant amount of…