Insurance Archives - Page 175 of 239

MetLife enters UK longevity reinsurance market with PIC transaction

Metlife, Inc., one of the largest life and annuities insurance groups in the world, has entered the longevity reinsurance market in the United Kingdom, providing a longevity risk transfer arrangement for regular market participant Pension Insurance Corporation plc (PIC). Metlife entered into the longevity reinsurance arrangement using its susbidiary Metropolitan Tower Life Insurance Company. Metropolitan…

Announcing keynote speakers for our virtual ILS Asia conference

We’re delighted to reveal the keynote speakers joining us for our online & virtual ILS Asia 2020 conference this July. The agenda is coming together and we urge you to register soon to take advantage of this opportunity to hear from ILS industry experts. Plans for our online & virtual ILS Asia 2020 conference are…

Apollo / Athene’s ACRA sidecar funds 63% of $27bn Pru reinsurance transaction

Apollo Global Management has put its third-party capitalised sidecar vehicle for life and retirement investment opportunities, the Athene Co-Invest Reinsurance Affiliate (ACRA), to good use in completing a massive $27 billion fixed annuity block reinsurance transaction and investment in a subsidiary of Prudential plc. Announced today, Apollo owned Athene has reinsured a $27 billion in-force…

Stress tests show key collateralised market role in catastrophe claims

Results of joint stress tests conducted by the UK’s Prudential Regulatory Authority (PRA) and the Bermuda Monetary Authority (BMA) show that collateralised sources of reinsurance capacity, largely from the insurance-linked securities (ILS) market, are key when it comes to protecting UK and Bermudian re/insurers. The stress tests looked at a range of severe catastrophe loss…

NZ Earthquake Commission secures $6.2bn reinsurance renewal

The New Zealand Earthquake Commission (EQC), the state-owned residential property disaster insurance entity, has successfully placed its $6.2 billion reinsurance renewal flat in terms of size with the prior year, citing reinsurers ongoing confidence in the country. The New Zealand Earthquake Commission (EQC) has been buying reinsurance since 1988, as a way to augment its…

First private cat bond issued from GC / MMC’s Isosceles ILS platform

This almost $16.5 million Isosceles Insurance Ltd. (Series 2020-A1) transaction is the first private insurance-linked securities (ILS) arrangement or catastrophe bond from the Marsh & McLennan Companies and reinsurance broker Guy Carpenter operated Isosceles Insurance Limited transformer and segregated cell structure. Isosceles Insurance Limited has issued a single tranche featuring $16.445 million of Series 2020-A1…

Germany helps fund parametric risk transfer premiums for ARC member nations

The German government is helping African countries to continue benefiting from parametric drought insurance protection under the African Risk Capacity (ARC), with around EUR 19 million being donated to help fund their participation during a time when fiscal budgets may be stretched by the pandemic. The German government is assuming responsibility for around EUR 19…

P&C COVID-19 Wrap-upThe Path to Reopening

Just as it has played a key role in responding to the COVID-19 pandemic crisis, the insurance industry will be integral to the economic recovery as businesses and communities reopen. Aon forms recovery coalition Re/insurance broker Aon has formed a coalition of companies and organizations to focus on aiding social and economic recovery in the wake of the COVID-19…

Aeolus makes raft of leadership promotions

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) focused investment fund manager, has made a raft of leadership promotions within its business, as a natural progression following the 2017 buy-in of investment manager Elliott Management Corporation. Aeolus, which manages over $4 billion of reinsurance linked ILS assets on behalf of institutional…