Insurance

According to Reuters, the Aon and Willis Towers Watson (WTW) merger may face a statement of objections from the European Commission (EC), as the authority seeks concessions to address competition concerns. It’s the latest turn in the largest insurance and reinsurance broker mega-merger and the suggestion from Reuters is that the EC has concerns the…

In light of current market conditions and a heightened awareness about the hidden costs of UNL or indemnity business, it makes sense to leverage the industry loss index product, according to Tom Johansmeyer, Head of PCS. Industry loss metrics provided by PCS are extremely valuable for the industry and increasingly utilised in risk transfer and…

Carlisle Management Company, a Luxembourg headquartered global alternatives investment firm, has announced the successful raising of $290 million for its latest life insurance-linked settlements fund. The new closed-end life settlements focused investment fund, named the Luxembourg Life Fund: Absolute Return Fund II FCP RAIF, beat a $250 million target thanks to attracting a diverse group…

Industry losses from recent winter storm activity in the United States are seen as another driver for more firming of reinsurance prices at the key mid-year renewals, according to analysts at Keefe, Bruyette & Woods. KBW’s analyst team attended the recent Association of Insurance and Financial Analysts (AIFA) conference and came away more confident that…

The official start of the Atlantic hurricane season could be moved earlier by up to two weeks, if officials from National Oceanic and Atmospheric Administration (NOAA) decide that the recent historical climatology warrants an extension to the season. Currently, the Atlantic hurricane season officially begins on June 1st and runs until the end of November.…

Insurance and reinsurance broker Aon, working with cryptocurrency and smart contract focused insurtech start-up Nayms and Bermuda specialist insurer Relm, aims to open up the capital markets to digital asset risk, to source risk capacity for the burgeoning crypto space. There have been a number of initiatives that have looked into leveraging crypto protocols such…

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, is losing its CEO, as Andrew Horton has taken a position as Group CEO of QBE Insurance in Australia. Horton has been with Beazley since June 2003, becoming Chief Executive Officer of Beazley plc and President of Beazley Insurance Company Inc. in September 2008. He…

Hiscox Group, the specialist insurance or reinsurance underwriter and ILS capital manager, says its reinsurance and insurance-linked securities (ILS) unit Hiscox Re & ILS is seeing the best market conditions in at least five years, with an expectation of a return to growth. CEO Bronek Masojada commented this morning, “In 2021, I expect our big-ticket…

Genworth Mortgage Insurance, a mortgage insurance subsidiary of Genworth Financial, has returned to the capital markets to add more mortgage reinsurance protection, with its third and now largest mortgage insurance-linked securities (ILS), a $495 million Triangle Re 2021-1 Ltd. issuance. Genworth first sourced mortgage reinsurance capacity from the capital markets on a securitized and fully-collateralized…