Insurance
PartnerRe’s third-party capital assets surpass $1bn
PartnerRe, the Bermuda headquartered and EXOR owned reinsurance company, has significantly grown its third-party capital assets under management, lifting them above $1 billion around the January 2021 renewals. PartnerRe has been managing third-party or alternative reinsurance capital for many years, with a successful quota share sidecar program and a range of other collateralized reinsurance structures…
Read MoreMetLife reinsures $5bn of pension longevity risk for Rothesay Life
MetLife, Inc., one of the largest life and annuities insurance groups in the world, has announced that it completed two more UK based longevity reinsurance transactions with pensions insurance specialist Rothesay Life, covering $5 billion of risk. MetLife has been expanding its longevity risk transfer and reinsurance activities in the United Kingdom over the last…
Read MoreWinter storm Uri loss could be “well in excess” of $10bn: AIR
Catastrophe risk modeller AIR Worldwide has warned that recent winter storm Uri and associated severe winter weather could result in an insurance and reinsurance industry loss that is “well in excess” of $10 billion. Beginning on February 12th 2021 and continuing right through the following week, winter storms and freezing weather driven by a polar…
Read MoreBMS hires RenRe advisor Cameron as EVP US Property Treaty
Insurance and reinsurance broking group BMS has announced the hire of David Cameron, a former advisor to RenaissanceRe, as an Executive Vice President, continuing the build-out of its U.S. Property Treaty division. Cameron joins BMS from March 1st and will be based in the brokers’ Edina, Minnesota office, reporting to Pete Chandler, President and CEO…
Read MoreStudy Quantifies Future Climate Change Impact on Flood Losses
A new study from the nonprofit First Street Foundation projects the impact climate change may have on U.S. flood losses. The report – The Cost of Climate: America’s Growing Flood Risk –finds that, when adjusting for the long-term impact of a changing climate, nearly 4.3 million homes have “substantial” flood risk that would result in financial…
Read MoreFresh ESG capital an opportunity for the ILS industry: Taylor, Ocorian
In a recent interview with Artemis, Ocorian Client Director Sherman Taylor explored how the insurance-linked securities (ILS) industry can incorporate ESG into its operations and what benefits this might bring. He expressed his optimism as he noted the total market capitalisation of new ILS issuances surpassed $15B in 2020, making it another record-breaking year for…
Read MoreAlpina takes over Falcon cat bond funds, transforms them to ESG compliant
Alpina Capital, through its Alpina Fund Management S.A. unit, has taken over the management and distribution of the Falcon Private Bank catastrophe bond funds and is transforming them into ESG compliant strategies under the EU taxonomy. Alpina Capital acquired Falcon Fund Management (Luxembourg) S.A. at the end of 2020, taking over the business and retaining…
Read MoreAlternative capital presenting “disciplined” competition: Munich Re
Global reinsurance player Munich Re had some positive words for the insurance-linked securities (ILS) market, suggesting that alternative capital sources in reinsurance are presenting “disciplined” competition at this time. In the past, major reinsurers, such as Munich Re, have opted to colour alternative reinsurance capital sources, ILS funds and their investors as less disciplined when…
Read MorePalomar expects reinsurance recoveries for winter storm Uri
Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has said that it expects its reinsurance program to respond to the losses it will face from winter storm Uri’s impacts in Texas. Texas was the state hardest hit by winter storm Uri’s freezing weather, with significant impacts to properties and…
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