Financial
ADW Capital Partners Up 119% In 2020; Long CDON AB [2020 Letter]
ADW Capital Partners commentary for the fourth quarter ended December 2020, discussing their new position in CDON AB. Q4 2020 hedge fund letters, conferences and more Dear Partners, Please find attached our results for the 4th quarter of 2020 and our 40th quarter since inception. At the risk of sounding like a broken record, we […]
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Read MoreCoronavirus stimulus checks: House Budget Committee introduces $1.9T relief bill
Americans are eagerly waiting for the third round of stimulus checks. There is no clear information on when Congress would approve the next stimulus package. Last week, however, Democrats took one step forward in getting the bill approved. A House of Representatives committee, on Friday, introduced the $1.9 trillion coronavirus stimulus bill, which includes $1,400 […]
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Read MoreSiriusPoint execs announced, key roles for Malloy, Govrin & Cramér Manhem
More of the executive leadership of SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, has now been revealed by the company. Key roles at the global reinsurance firm have gone to a number of existing executives, including Dan Malloy…
Read MorePowder Coating: An Underappreciated Technology Reaching Maturity
Powder coating has matured from a relatively unsophisticated metal coating process to arguably the fastest-growing coating technology in the world. Manufacturers around the globe are abandoning conventional wet painting in favor of powder coating, but this change is going largely unnoticed by the financial community. The forces driving powder coating’s popularity are increasing and coatings […]
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Read MoreStrategic Risk Solutions adds Pereira in Bermuda for ILS push
Strategic Risk Solutions, Inc., a provider of insurance, reinsurance and captive management and consulting services, has made another key hire as it pursues insurance-linked securities (ILS) business, appointing Anna Pereira as Senior Vice President, Insurance-Linked Securities (ILS). Pereira will take up the role at Strategic Risk Solutions (SRS) from March 1st 2021 and will be…
Read MoreWinter storm to drive record losses, reevaluation of cat budgets: AM Best
According to rating agency A.M. Best, catastrophe losses suffered in Texas from the US winter storm, which has been named winter storm Uri, may reach record levels, suggesting the estimates of significant insurance and reinsurance market losses are likely to come true. As we explained on Friday, catastrophe risk modelling specialist Karen Clark & Company…
Read MoreAIG shrinks aggregate reinsurance to $2.05bn, but lowers attachment
American International Group (AIG) has reduced its aggregate reinsurance tower’s limit to $2.05 billion for 2021, down from $2.5 billion in 2020. The 18% reduction in limit for AIG’s aggregate reinsurance tower is not the whole picture though, as the global carrier has also lowered the bottom-end as well, with the aggregate property catastrophe reinsurance…
Read MoreILS market risks an ESG “credibility gap” – Synpulse
The insurance-linked securities (ILS) marketplace could put itself at risk of a potentially damaging “credibility gap” if it over promises on environmental, social and governance (ESG) alignment, Synpulse Management Consulting has warned. During the third-quarter of 2020 we teamed up with boutique consulting firm Synpulse Management Consulting to conduct a survey of the maturity of…
Read MoreILS fund managers negotiate improved terms, buffer loss clauses at renewals
The ongoing renegotiation and fine tuning of terms and conditions related to insurance-linked securities (ILS) capital deployment continued at the key January reinsurance renewals, with ILS fund managers gaining some more ground. Terms and conditions had weakened across the reinsurance and ILS market during the prolonged period of softening of market pricing and rates. Since…
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