Insurance
Hannover Re shrinks K-Cessions to $610m in “successful” retro renewal
German reinsurance firm Hannover Re has downsized its capital markets backed K-Cessions quota share retro reinsurance sidecar facility to $610 million for 2021, a roughly 10% decrease from the prior year. At the same time the company expanded its aggregate and whole account excess of loss retrocession protections, but not enough to account for the…
Read MorePositive cat bond market momentum to continue in 2021: Aon Securities
The property catastrophe bond market experienced a record year in 2020 with around $11 billion of new issuance and leading broker dealer Aon Securities believes the positive momentum will persist. Aon Securities, the capital markets and insurance-linked securities (ILS) focused unit of the global insurance and reinsurance broker, said in its latest report that 2020…
Read MoreHannover Re cites ~10% price rises for US cat reinsurance renewals
Hannover Re gave its report on the January 2021 reinsurance renewals today, citing around 10% price improvement across U.S. natural catastrophe reinsurance business, while across its book renewed business was subject to price increases of 5.5% and premium volumes rose by 8.5%. Hannover Re’s CEO Jean-Jacques Henchoz reports a “thoroughly satisfactory round of treaty renewals”…
Read MoreTriple-I celebrates Black History Month
By Scott Holeman, Director, Media Relations, Triple-I During Black History Month, we are sharing inspirational stories from Black business owners who are demonstrating resilience in these challenging times. It’s been a tough year for many businesses, but Kansas City Bar-B-Que co-owner, Debbie Jones, shows that a little resilience and ingenuity brings a recipe for success.…
Read MoreNephila attracts $1bn+ inflows, launches ESG & Lloyd’s ILS fund strategies
Nephila Capital, the largest dedicated manager of insurance and reinsurance linked investment funds and assets, is expected to benefit from growing investor interest in the sector, with inflows of more than $1 billion anticipated in 2021, according to Markel Corporation executives. Having returned to growth, in terms of assets under management, in the fourth-quarter of…
Read MoreUSAA’s commercial risk expansion may be relevant to future ResRe cat bonds
U.S. primary mutual insurer USAA has announced its first expansion into small commercial business insurance, with a new offering targeting its core market of military veterans. For around 30 years, USAA has offered small business insurance through unaffiliated insurance companies, but this new expansion will see the carrier offering its own small business insurance product,…
Read MoreILS NYC 2021 – Our agenda
We now have an almost complete agenda available for our upcoming ILS NYC 2021 online and virtual event. For 2021, we will bring you a flavour of our annual New York event in the style of discussion, forward-looking, insightful and focused this year on “Defining the next generation…” of insurance-linked securities (ILS) and alternative reinsurance…
Read MoreERS launches ILS division, with Strong, Reynolds & Kriesch hires
A new dedicated insurance-linked securities (ILS) management division has been launched by specialist motor-focused insurer ERS, with former Securis executive Neil Strong taking the lead role as CEO ILS. ERS has a long history in the motor insurance space but has been branching out into specialty lines and also reinsurance, with one of the most…
Read MoreBushfire on outskirts of Perth, Australia destroys 71 homes
A bushfire spreading on the outskirts of Perth, Western Australia has now destroyed 71 homes and more property damage is anticipated as the fire continues to expand and threaten communities in the area. The Wooroloo bushfire started on February 1st 2021 and was battled by more than 500 fire fighters. Despite these attempts, the bushfire…
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