Insurance
What the property/casualty insurance industry can expect with the Biden administration
On January 20, in a historic inauguration ceremony surrounded by U.S. soldiers guarding against domestic terrorism — before a field of 200,000 illuminated flags representing Americans who could not attend the ceremony because of the coronavirus pandemic — President Joe Biden and Vice President Kamala Harris were sworn into office. Sean Kevelighan, CEO, Insurance Information…
Read MoreRetro market more balanced than first feared at Jan 1: Vickers, Willis Re
A combination of forces coalesced in the second-half of 2020 which served to reduce demand for retrocession capacity at 1/1, resulting in a less constrained marketplace than initially expected, according to James Vickers, Chair of Willis Re International. In the retro market at the key, January 1st, 2021 reinsurance renewals, “you had a combination of…
Read MoreILS & reinsurance add to Bermuda investment fund growth through 2020
Bermuda has benefited from a robust year for insurance-linked securities (ILS) and other areas of reinsurance related investment through 2020, with assets under management of investment funds located in the domicile increasing during the year, as new private and closed fund structures have also been established. There appears to have been some shifting of assets…
Read MoreAkinova gets first Bermuda Insurance Marketplace Provider licence
Akinova, a company that has created a platform for the transfer and trading of insurance and reinsurance risks, has become the first to receive an Insurance Marketplace Provider licence in Bermuda. Akinova had previously become the first company to be authorised for an insurance regulatory sandbox licence from the Bermuda Monetary Authority (BMA). Now, that’s…
Read MoreVesttoo publishes COVID-19 era mortality models, offers risk transfer index
Vesttoo, which uses proprietary artificial intelligence and machine learning solutions to help companies assess and transfer risks to the capital markets, has published mortality risk models and forecasts for the U.S. including COVID-19 impacts, and offers the resulting index for mortality risk transfer transactions. Vesttoo aims to help risk bearers better forecast and price long-tail…
Read MoreArbol raises $7m Series A for parametric weather risk platform
Arbol, Inc., the marketplace technology provider that supports parametric risk transfer or weather insurance and utilises smart contracts, has raised a $7 million Series A funding round to help grow its business. Arbol said that the Series A was oversubscribed and completed at much higher valuation from its initial seed funding round. The seed investors,…
Read MoreILS inflows expected to rise, as portfolios become cleaner: SCOR IP’s Rossary
Inflows to the insurance-linked securities (ILS) asset class are expected to rise over the coming months, as investor appetite increases, according to Fabrice Rossary, the Chief Investment Officer of SCOR Investment Partners. Alongside this, the ILS fund market has been working to improve the quality of the portfolios of risk it offers to investors, Rossary…
Read MoreEclipse Re private cat bond platform in $80m deal, its first of 2021
Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note and private catastrophe bond issuance and transformer platform, has brought its first deal to market of 2021, an $80 million Eclipse Re Ltd. (Series 2021-01A) issuance. Last year, the Eclipse Re platform was responsible for almost $107 million of listed private cat bond, or…
Read MoreAXIS adds $125m of COVID losses, up to $80m cat losses from Q4
AXIS Capital, the Bermuda headquartered global specialty insurance and reinsurance firm, has pre-announced catastrophe losses for the fourth-quarter of 2020, revealing $125 million of additional impacts from the COVID-19 pandemic and up to $80 million from natural catastrophes during the period. The fresh COVID-19 losses takes AXIS Capital’s total for the pandemic to $360 million…
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