Insurance

TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, is targeting accelerated and growth has taken a strategic investment from private equity specialist Flexpoint Ford LLC. The investment by the private equity investor will provide TigerRisk Partners with access to significant capital and resources, while the investor Flexpoint Ford will also bring…

A number of insurance-linked securities (ILS) fund managers have proactively marked-down some collateralised reinsurance positions, seeing a risk of potential exposure and perhaps even some losses caused by the Covid-19 pandemic. Insurance-linked securities (ILS) funds and other collateralised providers of reinsurance or retrocession don’t have the luxury of a weekly pricing sheet (like the catastrophe…

U.S. primary insurer Travelers has reported a decline in its first-quarter net income, with the major dent to the result seemingly being elevated catastrophe losses, with the Tennessee tornadoes in March a key driver. The tornadoes that struck near Nashville in Tennessee at the beginning of March have been estimated as a potential billion dollar…

Alternative reinsurance capital, for deployment into insurance-linked securities (ILS), collateralised contracts and catastrophe bonds, returned to outright growth in the fourth-quarter of 2019, ending the year up 2% on the prior quarter, but still -2% down on the end of the previous year. Insurance and reinsurance broker Aon has published its latest figures on global…

The Pennsylvania Supreme Court has ruled that the Covid-19 pandemic constitutes a “natural disaster” potentially setting an unwelcome precedent for some in reinsurance and insurance-linked securities (ILS). As concerns remain about the potential for a tidal wave of business interruption claims as a result of the coronavirus pandemic, every ruling is being closely watched to…

Reinsurance companies need to focus on capital preservation in order to offset the impacts in terms of losses and investment declines from the Covid-19 pandemic, according to S&P Global Ratings. While this may drive some increased demand, as reinsurers look to protect their portfolios and in particular hedge out extreme catastrophe risks using retrocession, any…

A steering group has been formed by UK insurance and reinsurance industry leaders with Stephen Catlin of Convex as Chair, to work with UK government backed mutual terrorism reinsurance firm Pool Re to strengthen the industry’s response to future pandemics. With the significant impact of the Covid-19 coronavirus pandemic on the insurance and reinsurance sector…

Global reinsurance company Swiss Re is back with what will be its fourth catastrophe bond in less than one year, as it seeks another $200 million or greater of U.S. named storm retrocessional support from the capital markets with Matterhorn Re Ltd. (Series 2020-3). Having been away from the catastrophe bond market as a sponsor…

Louisiana Citizens Property Insurance Corporation, the non-profit state mandated insurer of last resort, is back in the catastrophe bond market for its first transaction located in Singapore, with a currently $50 million Catahoula Re Pte. Ltd. (Series 2020-1) deal. Louisiana Citizens has been better known for its Pelican Re series of catastrophe bond deals through…