Insurance

Frederik Eloff and James Karim, who previously worked together at a Deutsche Bank start-up ILS fund management unit, have together launched insurtech start-up Marrikel, which positions itself as a reinsurance broking platform. Marrikel joins a plethora of reinsurance and risk transfer placement systems that have launched in recent years leveraging in-house developed technology to make…

Transmission equipment owned and operated by Pacific Gas and Electricity (PG&E) has been deemed to be the cause of the 2019 Kincade wildfire in Sonoma County California, which could put the company and its insurers on the hook for over $600 million of costs. PG&E, the wildfire stricken California focused electrical utility operator, had previously…

The participation of the capital markets in financing the world’s most pressing risks is an important source of capacity and investors could support up to $2 billion of capacity to back pandemic catastrophe bonds, Hannover Re CEO Jean-Jacques Henchoz explained in a recent interview. Speaking to Swiss, German-language newspaper Neue Zürcher Zeitung, Henchoz explained the…

The insurance and reinsurance market loss estimate for the severe hailstorms that struck the southeastern region of Australia in January 2020 is now seen as A$1.811 billion by PERILS, as the group adds motor claims to its tally and says the property loss has risen 44%. Previously, the Zurich based, industry backed estimator of catastrophe…

Bermuda-based insurer and reinsurer Everest Re Group continues to explore ways to evolve and develop its alternative capital play, according to John Doucette, Executive Vice President (EVP) and Chief Executive Officer (CEO) of the Reinsurance Division. In the first-quarter of 2020, Everest Re reported that premiums ceded to its collateralized reinsurance sidecar-like vehicle, Mt. Logan…

Global reinsurance player Munich Re has revealed that it has suffered €700 million of losses in its reinsurance business from the Covid-19 coronavirus pandemic in the second-quarter of 2020. Despite the high loss burden, Munich Re still expects to report an above consensus €600 million net result for the quarter, citing lower-than-average major losses from…

Fixed income financial services investment specialist Cohen & Company, LLC has raised €375 million for new investment funds focused on provision of subordinated debt to the insurance and reinsurance sector in Europe. Cohen & Company has been investing in subordinated insurance debt over recent years, as part of its growing practice focused on extracting attractive…

Welcome to Artemis’ fifth Bermuda-focused ILS executive roundtable, which owing to restrictions caused by the ongoing Covid-19 pandemic was held virtually. In response to the global spread of the novel coronavirus, Bermuda, like much of the world, entered into an unprecedented period of lockdown as its government enforced restrictions aimed to mitigate the outbreak. Against…