Insurance
Lancashire to raise $365m, citing rapid rate increases & dislocated market
Lancashire Holdings, the specialty insurance and reinsurance group with a third-party capital management platform, is set to raise around $365 million through a share placement, citing opportunities in the currently hardening market environment. Lancashire says that its long-term strategy is to deploy more capital into a “hardening” market and today’s market environment qualifies for the…
Read MoreHurricanes Don’t Just Affect Coasts; Experts Say: “Get Flood Insurance”
With the 2020 Atlantic hurricane season activity expected to be “well above average” in intensity; three named storms having formed already; and Tropical Depression Cristobal bringing flooding rains and powerful winds from the South to the Midwest as it made landfall in Louisiana, preparedness should be on the minds of everyone who could be affected…
Read MoreHCI grows catastrophe reinsurance limit 31% to $1.93bn
HCI Group, Inc. has increased the size of its catastrophe reinsurance coverage significantly at the mid-year 2020 renewals, growing its coverage by around 31% to $1.93 billion of limit on a first and second event basis. HCI is a Florida headquartered property and casualty insurer and parent to Homeowners Choice Property & Casualty Insurance Company,…
Read MoreLockton Re hires Matt Foreman from Aon for retro team build-out
Lockton Re, the reinsurance broking arm of the privately held and independent intermediary, has hired well-known London market retrocession broker Matt Foreman, as the company starts to build-out a new retro practice. Lockton Re has been seeking to add retrocession broking to its range of client offerings, with the fast growing independent wanting to position…
Read MoreArtemis Live: Interview with RMS’ Jin Shah & Jeff Waters
This week our new video interview features RMS’ Jin Shah and Jeff Waters, who joined us to discuss the 2020 Atlantic hurricane season and how technology and analytics can help insurance, reinsurance and ILS market participants be better prepared and respond as storms threaten. All of our Artemis Live video interviews can be accessed directly…
Read MoreUSAA in further $2.97m reinsurance recovery from Espada Re cat bond
U.S. primary mutual insurer USAA has made a second reinsurance recovery from its Espada Reinsurance Limited (Series 2016-1) catastrophe bond transaction and has released more of the outstanding principal back to investors as well. USAA sponsored the Espada Re catastrophe bond in 2016, securing $50 million of multi-peril U.S. catastrophe reinsurance protection from the transaction…
Read MoreILS should play a role in pandemic backstop solutions: Survey respondents
Insurance-linked securities (ILS) and capital markets backed sources of insurance or reinsurance capacity should play a role in any government or industry supported pandemic risk pooling facility or backstop, respondents to our latest survey said. Overwhelmingly, the hundreds of respondents to our latest market survey are in favour of and recognise the need for some…
Read MoreLemonade files to go public and reveals Nephila as reinsurer
Lemonade, Inc., one of the highest profile insurtech start-ups that had been funded by Softbank among others, has filed an initial public offering (IPO) registration statement in which it has also revealed that one of its reinsurers is the largest ILS fund manager in the world Nephila Capital. Lemonade is targeting a listing on the…
Read MoreBad Faith and Business Income Interruption Policies During the Coronavirus Pandemic
By Max Dorfman, Research Writer, Insurance Information Institute A new and risky legal precedent could be set as the coronavirus pandemic continues to roil the U.S. economy. A growing number of policyholders say that insurers are acting in bad faith when they deny claims for losses sustained during shutdowns. While business income interruption coverage typically…
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