Financial

Industry losses from catastrophes and severe weather events are estimated to have reached $87.3 billion in 2020 by the Jefferies equity analyst team, but with frequency a significant factor, it’s assumed the main source of losses for reinsurance capital was through quota share and aggregate covers. In reviewing 2020, the analyst team from investment bank…

Reinsurance broker Willis Re, part of the Willis Towers Watson group, has hired Michel Büker from reinsurer PartnerRe to the newly created role of Head of Lloyd’s Capital, Willis Re Specialty. Büker has been given dual roles at the reinsurance broker, also taking on the position of Head of Production, Customised Solutions, EMEA. In these…

Hymans Robertson LLP, the pensions and financial services consultants, expect that longevity risk transfer activity will remain high in the United Kingdom across the coming decade, with as much as UK £250 billion of longevity swaps expected to be transacted by 2031. That’s on top of a forecast £450 billion of pension buy-in and buy-out…

Florida headquartered Security First Insurance Company is back in the catastrophe bond market, sponsoring a $100 million First Coast Re III Pte. Ltd. (Series 2021-1) transaction, that will be its fourth cat bond issuance, its second cat bond to be issued out of Singapore. The Floridian insurance carrier has returned to the capital markets to…

Selective Insurance Group said that reinsurance rate increases are outpacing those seen on its primary policies, which means that its underwriting profits will be dented in 2021. Selective is the first primary insurer to say that rising reinsurance pricing is moving faster than its own ability to increase rates for its primary policies, with the…