Insurance
Coronavirus compounds hurricane season challenges in 2020: Fitch
The continuation of the Covid-19 coronavirus pandemic into the 2020 Atlantic hurricane season is set to compound challenges for insurance, reinsurance and ILS capacity providers this year, according to Fitch Ratings. The coronavirus outbreak and resulting lockdown, then slow shift back towards a new normal, is set to exacerbate the challenges posed by any major…
Read MoreIRC Study: Social Inflation Is Real, And It Hurts Consumers, Businesses
“Social inflation” is the name used to describe growth in liability risks and costs related to litigation trends. A new white paper by the Insurance Research Council (IRC) examines this phenomenon and shows that insurers’ losses across several business lines have accelerated rapidly in recent years – much more rapidly than economic inflation alone can explain. Some…
Read MoreRenRe looks to raise around $1bn to capitalise on “significant” opportunities
RenaissanceRe, the Bermuda-headquartered reinsurance company and third-party capital manager, sees itself as well positioned to deploy more capital to take advantage of “significant” opportunities in the wake of the Covid-19 pandemic, so is raising around $1 billion of capital through a new share issuance. The company has launched an offering of its common shares and…
Read MoreArtemis Live: Interview with Matt Jones, Anthemis
Matt Jones, Principal at financial technology (fintech), insurance or reinsurance technology (insurtech) venture capital investment firm Anthemis joined us for the latest in our series of video interviews. All of our Artemis Live video interviews can be accessed directly from our YouTube Channel and we have more interesting discussions with leaders of the ILS and…
Read MoreAvatar’s new Casablanca Re cat bond sees 16%-18% price hike
Guide pricing for Avatar Property and Casualty Insurance Company’s new $65 million Casablanca Re Pte. Ltd. (Series 2020-1) catastrophe bond issuance has been hiked by 16%-18%, as insurance-linked securities (ILS) investors continue to demonstrate their requirement for higher returns and cat bond rates reflect the hardening Florida reinsurance market. We’re told the catastrophe bond now…
Read MoreState Farm in $250m Merna Re II 2020-1 privately placed cat bond
U.S. primary insurance carrier State Farm has returned to the capital markets to source fully collateralised reinsurance again, sponsoring a new $250 million another privately placed and issued Merna Re II Ltd. (Series 2020-1) catastrophe bond transaction. It’s the fifth year in a row that State Farm has accessed capacity from insurance-linked securities (ILS) funds…
Read MoreProperty cat reinsurance rates up 26% at June 1st, Hyperion X index shows
Property catastrophe reinsurance rates-on-line rose by an estimated 26% at the June 1st 2020 renewal season, according to the latest data from an index tracking average risk-adjusted pricing from Hyperion X Analytics. The figure is aligned with reports that reinsurance renewal rates-on-line increased by anywhere from 20% to 30% broadly across Florida, the key property…
Read MoreLockton Capital Markets appoints Ken Pierce as CEO
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 appointment of experienced convergence market exec Ken Pierce as its Chief Executive Officer (CEO). Insurance and reinsurance brokerage Lockton launched its Capital Markets unit back in 2018. The company…
Read MoreHSCM sets up Bumblebee Re to bring reinsurance cell formation in-house
Hudson Structured Capital Management Ltd., which undertakes insurance and reinsurance investment business as HSCM Bermuda Management Company, has established special purpose insurer Bumblebee Re Ltd., as it looks to take the process of collateralized reinsurance cell formation in-house. Bumblebee Re Ltd. has been registered in Bermuda as a Special Purpose Insurer to conduct ‘unrestricted special…
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