Insurance
Ada Capital Management collateralised retro platform to be launched by Hamilton
Hamilton Insurance Group, the Bermuda based insurance and reinsurance holding company, is in the process of developing and establishing a collateralised retrocession offering and third-party capital manager named Ada Capital Management, as it targets the most dislocated segment of reinsurance. Ada Capital Management Limited will be a retro focused collateralized underwriting agent and manager, sitting…
Read MorePre-disaster financing with quick payouts a solution to catastrophic events: AXA XL
When natural disasters strike around the world the single biggest solution to aid recovery is pre-disaster financing (predominantly insurance or reinsurance based products), with the ability to payout rapidly, according to AXA XL. Working alongside the Centre for Risk Studies (CCRS) at Cambridge Judge Business School, AXA XL has published a report that seeks to…
Read MoreAkinova to focus on clearing with help of ex-LCH.Clearnet CEO
Akinova, the start-up that aims to create a platform or marketplace for the transfer and trading of insurance and reinsurance risks, is adopting a focus on clearing trades, signing up Ian Axe to its advisory team, a former Group CEO of LCH.Clearnet. Clearing refers to the reconciliation of purchases or sales of securities, or other…
Read MoreNewRe appoints Munich Re’s Thomas Braune as new CEO
New Reinsurance Company Ltd. (NewRe), a wholly owned subsidiary of global reinsurance firm Munich Re, has named an internal candidate as its new Chief Executive Officer, with Thomas Braune taking the role. Braune has worked at Munich Re since 1992 and is a seasoned reinsurance market expert. His most recent position at Munich Re was…
Read MoreAfrican Risk Capacity expands cover to non-sovereign risk transfer buyers
The African Risk Capacity (ARC), which has so far provided parametric disaster insurance products to countries in Africa, is set to expand its client base to include non-sovereign actors, as it looks to grow and diversify its portfolio of risks. The African Risk Capacity (ARC) has only provided risk transfer and parametric insurance to government’s…
Read MoreFlorida Citizens growth suggests takeout opportunity returning
The opportunity to takeout insurance policies from Florida’s Citizens Property Insurance Corporation may return once again, as the insurers portfolio is expanding faster than it expected and it feels some of the book may be attractive. Florida Citizens had previously said that the state of the Florida insurance market would drive its portfolio up by…
Read MoreGuy Carpenter hires Paul Miller from Aon to key Property Cat role
Reinsurance broker Guy Carpenter has announced a key hire to its Property Catastrophe team, taking Paul Miller from rival Aon to lead property cat broking for UK, Global Specialties and key global clients. Paul Miller was most recently Head of International Catastrophe Management at Aon’s Reinsurance Solutions division. He will lead Guy Carpenter’s Property Catastrophe…
Read MoreIs COVID-19 covered by disability insurance?
Getty Images Many people are wondering if disability insurance will cover them if they come down with COVID-19. The answer, as is often the case, is a qualified yes. There are basically three types of disability income insurance: Employer-paid disability insurance, Social Security disability benefits and individual disability income insurance policies. Short-term disability insurance may…
Read MoreCEA targets $250m+ Ursa Re II 2020 catastrophe bond issue
The California Earthquake Authority (CEA) is back once again in the catastrophe bond market with the second issuance it has sponsored so far this year, seeking a $250 million or larger source of collateralised earthquake reinsurance from this Ursa Re II Ltd. (Series 2020-1) deal. Earlier this year, the CEA, which is a not-for-profit residential…
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