Insurance
ILS capital dented & more costly after Covid-19, driving rates: RenRe
The cost of third-party or insurance-linked securities (ILS) capital has risen, while its supply has been dented by the Covid-19 pandemic, according to RenaissanceRe, the Bermuda-headquartered reinsurance company and third-party capital manager. In raising its recent equity round that amounted to as much as $1.125 billion, RenaissanceRe highlighted the state of the market and implied…
Read MoreAetna’s claim ratio well-below Vitality Re ILS trigger in Q1 despite Covid-19
Despite the impacts of the Covid-19 coronavirus pandemic, the medical benefit claims ratio reported by insurer Aetna for the first-quarter of 2020 has remained well-below the levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered, we can report. As we’d explained previously, the Vitality Re health insurance ILS transactions,…
Read MoreMexico’s parametric World Bank cat bond looks safe from M7.4 earthquake
Southern Mexico was struck by a significant Magnitude 7.4 earthquake on Tuesday at around 15.30 UTC, but while the location of the earthquake appears to have fallen within a box relevant to the parametric trigger of the World Bank supported IBRD / FONDEN 2020 catastrophe bond, it does not look strong enough to have triggered…
Read MoreWindmill II Re cat bond “mirrors” traditional reinsurance for Achmea: Willis Re Securities
The recently completed Windmill II Re DAC (2020) catastrophe bond transaction effectively integrates within the property catastrophe reinsurance program of sponsor Achmea, according to the deals structuring agent and bookrunner Willis Re Securities. Netherlands headquartered primary insurance group Achmea returned to the catastrophe bond market at the beginning of June, to sponsor a new Windmill…
Read MoreSwiss Re lifts upper target for Matterhorn Re cat bond to $275m
Global reinsurance firm Swiss Re has raised the upper-end target for its latest catastrophe bond, with the Matterhorn Re Ltd. (Series 2020-4) transaction now aiming to secure as much as $275 million of capital markets backed retrocession for the sponsor. Swiss Re returned to the catastrophe bond market recently for what will be its fourth…
Read MoreLockton Capital Markets adds structuring expertise with Pan hire
Lockton Capital Markets, the unit with an alternative capital and insurance-linked securities focus at the largest independent insurance broker of the same name, has announced the hiring of Richard Pan as Managing Director, an executive with asset management, reinsurance and structuring expertise. Lockton continues to build out its Capital Markets practice, having recently installed a…
Read MoreGuatemala gets CCRIF rainfall payout for tropical storms Amanda/Cristobal
The Government of Guatemala has benefited from its parametric disaster insurance coverage under the CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) as the countries parametric excess rainfall insurance was triggered by tropical storms Amanda and Cristobal. Once again demonstrating the speed at which payouts can be made through the use of…
Read MoreSafeguard your business from wildfires: Allianz and Triple-I team up on mitigation
With business owners facing the ‘new normal’ of a seven-month wildfire season, compounded by rising temperatures, public safety power shutoffs, COVID-19 and civil unrest – wildfire preparation will be more critical than ever this year. As outlined in a new Allianz report “Future Fires: Weathering the Fire Storm”, 2019 was a catastrophic year with 46,786…
Read MoreMunich Re says Covid-19 means no profit target for 2020
While global reinsurance giant Munich Re said that it has the financial strength to withstand the economic hit from the Covid-19 pandemic, the reinsurer will not put in place any profit guidance for the full-year, saying the uncertainty over losses remains high. Previously, Munich Re had withdrawn its target for €2.8 billion of profit for…
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