Insurance
Floods, Freezing, Other Extreme Weather Highlight Need for Planning and Insurance
Recent flooding in Kentucky “is going to be one that goes into the record books,” the state’s Emergency Management Director Michael Dossett said in a news conference this week. At least 49 counties had issued disaster declarations following days of rain that dumped four to seven inches across a wide stretch of the state and…
Read MoreILS repricing in line with traditional reinsurance rate hardening: Swiss Re
Global reinsurance firm Swiss Re has said today that it believes the repricing of insurance-linked securities (ILS), such as catastrophe bonds, as in line with the rate hardening seen across traditional reinsurance. Swiss Re believes that there is further for ILS rates to firm up as well, with catastrophe bond pricing already said at a…
Read MoreIntegral ILS to access catastrophe risk via AmWINS MGA’s
Insurance origination and distribution specialist AmWINS has confirmed that start-up insurance-linked securities (ILS) fund manager Integral ILS Ltd. will be accessing catastrophe risk through its managing general agents (MGA’s). Integral ILS Ltd. was launched as a new ILS fund manager market entrant by industry execs Richard Lowther and Lixin Zeng, with AmWINS one of the…
Read MoreChubb’s ABR Re stake grows, importance as reinsurance capital rises
Chubb, the global primary insurance carrier and reinsurance company, has increased its ownership stake in its strategically important total-return and third-party capitalised reinsurance joint-venture ABR Re, as its importance as a reinsurance provider to the Chubb group continues to grow. ABR Reinsurance Capital Holdings Ltd., the parent and ABR Reinsurance Ltd. (ABR Re), the reinsurance…
Read MoreTriple-I CEO to speakat RAA Catastrophe Risk Management Conference
Sean Kevelighan, Triple-I CEO, will be a featured speaker at the Reinsurance Association of America’s 18th annual Cat Risk Management conference as part of a COVID-19 panel. The panel will discuss the economic impact of the pandemic on insurers, pandemic-related litigation, and reinsurance issues. The online conference takes place March 22-24 and features a powerhouse roster of experts…
Read MoreFlorida Citizens to seek $850m of cat bonds before 2021 hurricane season
Florida’s Citizens Property Insurance Corporation is targeting a $2.6 billion reinsurance and risk transfer program in advance of the 2021 hurricane season beginning and within the renewed towers could be $850 million of new catastrophe bonds. Florida Citizens has been growing at an unsustainable rate, which its Chairman previously said makes it “the insurer of…
Read MoreBrookfield Asset Management gets rating for Cayman reinsurer North End Re
Brookfield Asset Management Inc., the giant Canadian headquartered alternative asset manager that has around $575 billion of assets under management, continues to expand its reinsurance operations with a rating from AM Best now secured for its Cayman Islands based reinsurer North End Re (Cayman) SPC. Brookfield Asset Management became the latest very large global asset…
Read MoreILS capital inflows tempered again, but deployment opportunities to emerge
It’s apparent that some insurance-linked securities (ILS) fund managers turned down new capital allocations around the January reinsurance renewals as they were not convinced they could deploy it all at acceptable return levels, or in certain cases deploy the entire volume of funds they could potentially have raised at all. The more we speak with…
Read MoreRenaissanceRe Capital Partners formed with Parry as Global Head
RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has announced a rebranding of its Ventures business as RenaissanceRe Capital Partners, with Chris Parry taking the lead role as its Global Head. Ventures had been the unit under which RenaissanceRe’s (RenRe) third-party capital, joint venture and insurance-linked securities (ILS) investment management operations have been…
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