Financial

AlphaCat Managers, the insurance-linked securities and collateralised reinsurance investment manager entity of insurance giant American International Group’s (AIG) delivered its parent $10 million of income for the first-quarter of 2020. At the same time, the amount of ILS and reinsurance assets under management of AlphaCat Managers dipped slightly in the period, to end the first-quarter…

Insurance giant Allstate has returned to the catastrophe bond market for a second time in 2020, something the company has not done since 2017. With a $150 million Sanders Re II Ltd. (Series 2020-2) transaction that seeks Florida specific multi-peril reinsurance for the insurers subsidiaries in the state. It’s the first time Allstate has returned…

Peak Re said this morning that its previously announced acquisition of Bermuda-based insurance-linked securities (ILS) asset manager Lutece has now completed and the unit is being rebranded as Peak Capital. Lutece founder Erik Manning and Peak Re’s Managing Director of Underwriting, Lawrence Cheng, are to lead the new unit as the Co-CEOs of Peak Capital.…

France headquartered global reinsurance company SCOR said it is pleased with the support investors have shown its latest catastrophe bond, the $200 million Atlas Capital Reinsurance 2020 DAC (Series 2020-1) transaction, while also praising the Irish regulators efficiency and the fact it resulted in a Solvency II first. SCOR’s latest catastrophe bond sponsorship was not…

The 2020 Atlantic hurricane season looks increasingly like it will be a season to watch for insurance, reinsurance and insurance-linked securities (ILS) interests, as the latest outlook forecasts to emerge raise the number of tropical storms and hurricanes expected during the season even further. After our last update on prospects for the 2020 Atlantic hurricane…

Our fourth Artemis Live video interview features an interesting and wide-ranging discussion with David Flandro, Managing Director, Hyperion X Analytics, a data and technology focused unit of the global Hyperion Insurance Group. All of our Artemis Live video interviews can be accessed directly from our YouTube Channel and we have more interesting discussions with leaders…

Jamaica’s catastrophe bond ambitions have been forcibly delayed by the Covid-19 pandemic, as the financial market volatility caused by the coronavirus outbreak has put the Caribbean island nations first cat bond issuance on-hold, according to the country’s finance minister. Speaking on Wednesday April 29th, Jamaica’s Minister of Finance and the Public Service, Dr. the Hon.…

Claims paid by Japanese domestic insurance firms after the impacts of 2019’s typhoon Faxai, typhoon Hagibis and the heavy rainfall event that closely followed these storms have risen by more than 6%, reaching $10.04 billion, according to the General Insurance Association of Japan (GIAJ). Image from Kyodo agency (via Japan Today) As is typical, Japanese…

The latest catastrophe bond to be sponsored by non-profit state mandated insurer of last resort Louisiana Citizens Property Insurance Corporation has been successfully upsized 20%, with the Catahoula Re Pte. Ltd. (Series 2020-1) now a $60 million transaction. At the same time the coupon pricing for the Catahoula Re cat bond has increased, eventually settling…