Insurance
Megan Thomas of AXIS named as new Hamilton Re CEO
Hamilton Re, the reinsurance focused operations of Hamilton Insurance Group, has named Megan Thomas from AXIS as its new Chief Executive Officer (CEO). The move comes after Hamilton Re announced back in August that its CEO at the time Kathleen Reardon was departing the company, with Chairman David Brown stepping in as interim CEO for…
Read MoreSwiss pensions could allocate more to ILS, as infrastructure split from alts
Swiss pension funds, or Pensionskassen as they are known, could now allocate a greater percentage of their capital to insurance-linked securities (ILS), if they wanted to, as infrastructure investments have been carved out of the alternatives bucket. In the past, Swiss pensions were only allowed to allocate up to 15% of their assets into an…
Read MoreSCOR lifts ILS assets to $2.4bn as fronting relationship with Global P&C begins
SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, has raised fresh capital for its insurance-linked securities (ILS) strategies in the first-half of 2020, lifting its ILS assets managed to $2.4 billion. The increase in ILS assets under management at SCOR Investment Partners came as it began leveraging the fronting capabilities…
Read MoreReinsurance capital down 3%, on both traditional & alternative sides: Willis Re
The traditional and alternative capital sides of the global reinsurance market both declined by around 3% in the first-half of 2020, according to the latest data from broker Willis Re. At the same time, the pressure on traditional reinsurance companies ramped up further as dwindling investment yields drove down their returns on equity (RoE). Willis…
Read MoreReinsurance sector won’t earn its cost of capital in 2020: S&P
Having struggled with sector results over the last three years, the global reinsurance sector is going to fail to earn its cost of capital in 2020, according to rating agency Standard & Poor’s. S&P maintained its negative credit outlook for the global reinsurance sector today, saying that “we expect to take additional negative rating actions…
Read MoreCohen & Co. raises $230m with second Butler-led re/insurance SPAC
Cohen & Company, LLC, the fixed income financial services focused investment specialist, has successfully upsized the initial public offering (IPO) capital raise for its second insurance, reinsurance and insurtech investment focused Special Purpose Acquisition Company, INSU Acquisition Corp. II. INSU Acquisition Corp. II follows on from the first SPAC, often called blank check company, launched…
Read MoreSCOR expects significant & long-lasting reinsurance market hardening
French reinsurance company SCOR is the latest to forecast a prolonged period of rate hardening across the reinsurance marketplace, saying that it expects prices to rises to be “significant, generalized and long-lasting.” SCOR holds its investor day today and provided an update on its progress and reinsurance market conditions, with its opinion being that firming…
Read MoreBattling Fires, California Also Struggles to Keep Homeowners Insured
The Los Angeles office of the National Weather Service predicted prolonged, potentially record-setting heat and dangerous weather conditions throughout California this summer – and, some experts expect it to continue for some time beyond. “If you like 2020, you’re going to love 2050,” said Michael Gerrard, director of Columbia University’s Sabin Center for Climate Change…
Read MoreBeach hires reinsurance & capital management focused broker Berkstresser
Beach & Associates has announced the hiring of Warren Berkstresser from Willis Re, who will joins the firms reinsurance division Beach Re in its Seattle office. Berkstresser has a background in reinsurance brokerage and capital management or advisory, having worked on capital market and alternative risk solutions for clients during his time with previous employer…
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