Insurance

Cooper Gay France, the European broker and wholesale managing general agency (MGA) that is part of the BGC Partners broking group, has acquired Meteo Protect, the specialist parametric and weather index insurance underwriting agency and Lloyd’s coverholder, we can reveal. Meteo Protect is a leading specialist in the structuring, pricing, broking and underwriting of weather…

Leading United States life, retirement and annuities insurance and reinsurance company Global Atlantic explained to us that it sees its newly launched life and annuity co-investment vehicle named Ivy as akin to the sidecars that are a feature of the insurance-linked securities (ILS) market. Global Atlantic Financial Group Limited launched the Ivy Co-Investment Vehicle LLC…

The majority of analysts and observers do not believe that the reinsurance and insurance-linked securities (ILS) industry faces a tidal wave of business interruption claims as a result of the coronavirus pandemic. Ongoing legal action continues to push for claims to be honoured, but in the majority of cases adequate exclusions do exist and it…

The two Guernsey domiciled rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed and their underwriting strategies tweaked to reduce the volatility in their results going forwards. Rating agency A.M. Best highlights the balance-sheet strength of each of the rated reinsurance…

Here are the ten most popular news articles, week ending 19th April 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Ten most read articles on Artemis.bm,…

The World Bank issued pandemic catastrophe bonds and pandemic risk-linked swaps have now been triggered and will pay out $195.84m, we’ve learned today, after the final trigger parameter of the growth-rate of coronavirus cases turned positive. Sources told us that the all-important growth rate factor turned positive as of March 31st, which was the final…

Global reinsurance capital levels have made a significant recovery broker Willis Re estimates, as the improvements in investment markets in recent weeks leads the company to believe that reinsurance capital is now only down roughly 5% since the beginning of 2020. The initial financial and investment market volatility created by the Covid-19 coronavirus pandemic had…

The mid-year reinsurance renewal season is set for further firming of premium rates as market conditions help to sustain and perhaps accelerate recent trends, something Leadenhall Capital Partners CEO Luca Albertini says is evident in early Firm Order Terms. The CEO of London headquartered insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital…

Two very senior insurance and reinsurance market leaders have warned that the sector is already facing “massive” losses from the Covid-19 coronavirus pandemic and that any forcing of business interruption claims on top of that could “bankrupt” the industry. The comments come from Oliver Bäte, Chief Executive Officer (CEO) of global insurance and reinsurance group…