Insurance

TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, has announced the hiring of former Guy Carpenter broker Brian O’Neill who will join the firm with a Florida and coastal property catastrophe risk broking focus. O’Neill joins TigerRisk Partners as Partner and Client Executive, Florida Business, and his hiring is targeted on…

France headquartered global reinsurance company SCOR has returned to the capital markets to sponsor a new catastrophe bond, Atlas Capital Reinsurance 2020 DAC (Series 2020-1), in search of an expanded insurance-linked securities (ILS) backed source of retrocessional reinsurance protection. For its first catastrophe bond of 2020, SCOR has reverted the issuing vehicle back to Dublin,…

Boutique consulting firm Synpulse, which has been providing services to the broader reinsurance market for over two decades, has now launched a specific practice focused on what it terms the insurance-linked strategies (ILS) market. Synpulse aims to provide a more dedicated service to what it sees as a growing sector where reinsurance and capital markets…

At this time of global uncertainty due to the Covid-19 coronavirus outbreak the insurance-linked securities (ILS) fund market is facing a rising demand for investor relations support, as the institutions backing the market, plus those looking at it for potential deployment, ramp up their queries and requests for information. As we explained in an article…

A magnitude 5.7 earthquake has struck the Salt Lake City area of Utah, U.S., the largest quake to hit the area in 28 years and big enough to cause some damage to buildings in Magna, West Valley City and Salt Lake City itself. The state of Utah is not a region that has significant coverage…

The Export-Import Bank of the United States (EXIM), the official export credit agency of the U.S. and a provider of trade credit insurance, financing, loans and guarantees, is looking to expand on its use of reinsurance risk transfer and is also looking to what the capital markets can offer in this regard. The EXIM Bank…

One of the loss-exposed tranches of Florida focused property and casualty insurer Heritage Insurance Holdings, Inc’s Citrus Re Ltd. catastrophe bonds has been partially redeemed by investors, with now $36.7 million of collateral from the originally $125 million tranche still retained by the sponsor and its maturity further extended. The tranche in question is the…

We’re told that the latest catastrophe bond from United Insurance Holdings (UPC Insurance) Armor Re II Ltd. (Series 2020-1) has failed to get sufficient investor support, so was pulled from the market and now won’t be issued. United (UPC) returned to the insurance-linked securities (ILS) market in late February, looking to secure a new catastrophe…

Japanese primary insurer Mitsui Sumitomo, an MS&AD Holdings insurance company, has lifted its target for its new catastrophe bond, the Akibare Re Pte. Ltd. (Series 2020-1) Japan typhoon and flood risk transaction, with the deal now seeking up to $100 million of reinsurance coverage for the company. Mitsui Sumitomo returned with its fifth catastrophe bond…