Insurance
Acrisure raises $3.4bn to pursue strategic initiatives
Expansive insurance and reinsurance broking group Acrisure has successfully raised over $3.4 billion in two transactions, with the “aligned capital” expected to help it pursue strategic initiatives, including doubling-down on its technology-led value proposition. Acrisure was formed out of retail insurance agency networks, but then in 2018 acquired Beach & Associates, a specialist insurance and…
Read MoreWomen’s History Month Karen Clark: A Model of Success
By Loretta Worters, Vice President, Media Relations, Triple-I Like many people, Karen Clark’s career was influenced by circumstances and serendipity rather than advanced planning. In graduate school she developed a love of building computer models, leading to her first job in the research department of Commercial Union Assurance. “One of my first assignments was to…
Read MoreBermuda to retain its leadership position in ILS because it has to: Webber, Apex
As the insurance-linked securities (ILS) pie continues to expand it’s natural for new jurisdictions to emerge and try to take a slice, but the innovative Bermuda marketplace is expected to maintain its leadership position, according to Ross Webber, Managing Director at independent financial services provider and fund administrator, Apex Group Ltd. For some time now,…
Read MoreILS market COVID-19 losses “kicked down the road”, AM Best warns
The fact cedents allowed insurance-linked securities (ILS) capital to be rolled over into reinsurance renewals rather than trapping it for potential losses from the pandemic, for the ILS market “amounts to kicking the can down the road for COVID-19-related losses,” according to AM Best. The rating agency warns that this could come back to bite…
Read MoreUS deep freeze looks like $10bn to $12bn property cat loss: Albertini, Leadenhall
February’s deep freeze and winter storm catastrophe event looks set to drive a property catastrophe reinsurance market loss of somewhere in a range from $10 billion to $12 billion, Leadenhall Capital Partners CEO Luca Albertini believes. Speaking with us during a recent Artemis Live video interview, Albertini said that data and loss information is beginning…
Read MoreLow reinsurance retentions to help Australian insurers as flood claims rise
Australia’s flooding catastrophe event continues and has spread, with the Insurance Council warning that its estimate of losses has already reached A$254 million as of early today, while its designation of the catastrophe event has expanded to include South East Queensland. As of early today, the number of claims filed and recorded by the Insurance…
Read MoreTWIA targets $1.9bn of cat bonds & reinsurance, seeks pricing for extra $1bn
The Texas Windstorm Insurance Association (TWIA) will aim to secure $1.9 billion of protection before the hurricane season from a mix of catastrophe bonds and traditional reinsurance, but its Board also directed its broker to secure pricing for an extra potential $1 billion placement. The Texas Windstorm Insurance Association (TWIA) secured $2.1 billion of reinsurance…
Read MoreRed Cross cat bond an impressive example of humanitarian ILS: Plenum
The recent completion of the world’s first pure volcanic risk catastrophe bond for its sponsor the Danish Red Cross, is an impressive example of the use of insurance-linked securities (ILS) in the humanitarian field, according to one of the investors in the bond, Plenum Investments AG. The first volcano cat bond will provide financing to…
Read MoreTriple-I CEO: 2020 Proved Insurers Can Lead Through Disruption
Sean Kevelighan The U.S.’s auto, home, and business insurers have more than met the challenges raised by COVID-19 over the past year, according to Sean Kevelighan, CEO, Insurance Information Institute (Triple-I). “2020 proved how this industry can lead through disruption. We can adapt. We can innovate. We can keep our promises and pay claims—even during…
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