Insurance

SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, is planning for its retrocession program to be “sidecar-like”, the company said. SiriusPoint came about after Bermuda headquartered, once total return focused reinsurer Third Point Re and re/insurer Sirius Group reached…

Arch Capital, the Bermuda headquartered specialty insurance and reinsurance group, has pre-announced an expectation that it will report up to $165 million of catastrophe losses from events in the fourth-quarter of 2020. The company has estimated that on a pre-tax basis and net of any recoveries from its reinsurance or retrocession and reinstatement premiums, its…

Pillar Capital Management Limited, a Bermuda headquartered specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager, has continued to have fund raising success through 2020, lifting its ILS assets managed by 39% to reach $2.4 billion as of the start of 2021. Pillar Capital Management Limited, a Bermuda headquartered specialist collateralized reinsurance and insurance-linked securities…

U.S. primary insurance carrier Travelers has successfully renewed its aggregate catastrophe reinsurance treaty at the January 2021 renewal season, with the layer set to provide it with slightly more coverage than last year but at a higher attachment point. As a reminder, Travelers had made a full $280 million recovery from its property catastrophe aggregate…

Vantage Risk, the insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, has established its first insurance-linked securities (ILS) vehicle in Bermuda, a collateralized insurer class company named AdVantage Retro I Ltd. We’ve learned from our sources that AdVantage Retro I Ltd., which was registered in Bermuda in December as a…

The insurance and reinsurance industry loss estimate for the severe hailstorms that struck the southeastern region of Australia in January 2020 has been raised by roughly 4% to almost AU $1.9 billion. Zurich based, industry-backed estimator of catastrophe insurance and reinsurance market losses PERILS AG had originally estimated the property market loss from the hail…

The targeted size of the second parametric earthquake catastrophe bond for specialist mortgage security focused investment manager Bayview Asset Management, LLC looks like it could increase in size by as much as one-third, with the upper target for the Sierra Ltd. (Series 2021-1) cat bond deal now lifted to $200 million. Bayview returned to the…

Quality and availability of data is seen as vitally important by insurance and reinsurance market players interested in covering drought related risks, as they seek to reduce basis risk in offerings, a survey from VanderSat has found. Dutch satellite technology firm VanderSat teamed up with AgroInsurance, an agricultural insurance industry knowledge hub, to poll the…

Bermuda headquartered reinsurance company PartnerRe has set up a new retrocession and specialty reinsurance focused investment vehicle named Laplace-C and secured backing from private equity player Olympus Partners. Laplace-C has been established to take advantage of opportunities seen in the global reinsurance market at this time and we understand is just one of the initiatives…