Insurance
Stone Ridge’s interval ILS fund shrinks 10% and shifts further to cash equivalents
Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets shrank again in the last quarter of record, with overall net assets down more than 7% in the period to January 31st 2020. However, the experience was not evenly shared across Stone Ridge’s two mutual ILS fund strategies, as the managers Interval fund shrank by…
Read MoreCredit Suisse ILS’ Bernina Re appoints Gubo as Senior Actuary
Bernina Re Ltd., the Bermuda based reinsurance underwriting and transformer vehicle backed by capital from funds managed by Credit Suisse Insurance Linked Strategies Ltd., has hired Thomas Gubo as a Senior Actuary. Bernina Re was launched as a Class 3A reinsurer in 2018, with the aim of becoming the flagship reinsurance underwriting platform for the…
Read MoreUK winter floods & wind related industry losses said £650m: PERILS
The insurance market loss from flooding that struck the United Kingdom earlier this year is initially estimated to be £279 million (around US $350m), according to PERILS AG, but the overall winter weather hit from floods and wind is estimated as £650 million (around US $810m). PERILS estimate for the insurance and potentially reinsurance industry…
Read MoreVitality Re health ILS all discounted in secondary market on Covid-19
The secondary market prices for the Vitality Re series of health insurance-linked securities (ILS) transactions have all been discounted on the potential for the ongoing Covid-19 coronavirus pandemic to drive an elevated level of medical benefit claims through to insurer and sponsor Aetna. As we explained more than a week ago, the Vitality Re health…
Read MoreKnipe launches life focused Kilter Finance, KKR commits up to $500m
Kilter Finance has been formally launched today by its founder Dan Knipe, a well-known figure in the life insurance-linked securities and investments marketplace. Knipe was most recently the Deputy Chief Investment Officer at specialist insurance-linked securities (ILS) manager Leadenhall Capital Partners LLP where he managed the life and mortality linked investment strategies for the firm.…
Read MoreCredit Suisse ILS backed Arcus Syndicate 1856 targets 2020 expansion
Arcus Syndicate 1856 at Lloyd’s, which is backed by third-party funds under the management of the Credit Suisse Insurance Linked Strategies team, is targeting an expansion of business across most of the underwriting classes it operates in for 2020. In reporting its 2019 results, the Arcus 1856 team revealed that a hit from typhoons Faxai…
Read MoreHyperion X partners with Vario to offer whole-account ILS coverage
Hyperion X, the data analytics focused entity of the Hyperion Insurance Group, the global broker and consultancy that includes RKH Reinsurance Brokers, is partnering with Vario Partners LLP to launch a collateralised whole-account reinsurance offering backed by insurance-linked securities (ILS). Vario Partners was launched as a specialist and capital markets focused risk advisor in late…
Read MoreNephila’s Syndicate 2357 lifts capacity target for 2020 to $554m
Nephila Capital, the largest insurance and reinsurance linked investment manager in the market, has again slightly lifted its stamp capacity target for the coming year to $554 million for 2020 for its syndicate at Lloyd’s. In 2019, Nephila’s syndicate suffered a loss of of almost $84.4 million, which was around 50% better than the 2018…
Read MoreVaried April renewal outcomes for ILS funds, as Covid-19 bites
The April reinsurance renewals saw significant rate increases that offered a chance for insurance-linked securities (ILS) funds to create a much higher returning book of Japanese catastrophe risk for their portfolios, but the results appear to have been uneven. While loss-hit Japanese catastrophe reinsurance towers exposed to wind and flood saw price increases of as…
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