Insurance

Global Atlantic Financial Group Limited, a leading United States life, retirement and annuities insurance and reinsurance company, has launched an intriguing co-investment vehicle named Ivy, which will operate as a kind of sidecar structure and is funded with $1 billion to invest in life and annuity reinsurance deals. The company announced the launch of Ivy…

The ongoing legal action to force pandemic business interruption and shutdown claims from the Covid-19 coronavirus outbreak into property or catastrophe insurance and reinsurance programs may be tempered by an appreciation that this would significantly impact the global re/insurance market, A.M. Best believes. A.M. Best has revised its outlook for the United States commercial insurance…

Insurance and reinsurance companies need to adapt to a “dynamic risk landscape” to incorporate socio-economic factors, climate change research and risk mitigation in their modelling, in order to keep weather risks insurable, Swiss Re warned today. In 2019, extreme weather events were once again the main driver of losses for the insurance and reinsurance industry,…

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, said this morning it has entered into a definitive agreement to acquire Bermuda-based insurance-linked securities (ILS) asset manager Lutece, which it will rename Peak Capital. Lutece was launched back in 2017 by Erik Manning, an experienced…

The central catastrophe bond investment proposition has held during the extreme financial market volatility created by the coronavirus pandemic, with the ILS asset class positively outperforming other traditional asset classes, according to Twelve Capital. The overwhelming majority of catastrophe bonds are fundamentally unaffected by the current Covid-19 coronavirus crisis, as only a small fraction of…

The results are now in from our market survey that we launched recently alongside sister publication Reinsurance News asking the insurance, reinsurance and insurance-linked securities (ILS) industry for its opinion on the market implications of the Covid-19 coronavirus pandemic. We are witnessing history unfolding as a global industry that is profoundly connected and affected –…

A dispute levelled against specialist insurance-linked securities (ILS) asset manager Securis over a clawback complaint made by Paraline’s ICAT Syndicate 4242 has been ruled in favour of the ILS fund manager, as clawback never existed in the contract. Securis Investment Partners had backed a collateralised reinsurance agreement with Paraline operated ICAT Syndicate 4242 at Lloyd’s,…

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, is planning to add coronavirus protection to its planned outbreaks and epidemics parametric insurance product, which it aims to have available from 2021. The work to develop a protection product based on a parametric index to support outbreak and epidemic insurance…