Insurance
Gallagher names Behagg CEO reinsurance, Swallow to step down
Gallagher, the international insurance and reinsurance broking brand of Arthur J. Gallagher & Co., has appointed Simon Behagg to become Chief Executive Officer (CEO) of reinsurance, as Rupert Swallow gets set to depart. Behagg will become CEO of the Gallagher Re business from February 2021, taking over the role from current CEO, Rupert Swallow, subject…
Read MoreCCR Re renews 157 Re sidecar for 2021, invests collateral in EBRD bonds
CCR Re, the French state-owned reinsurance firm, has renewed its 157 Re collateralised reinsurance sidecar vehicle for 2021 at an unspecified size. It’s the third annual issuance of the 157 Re reinsurance sidecar from CCR Re, which remains the first and only insurance-linked securities (ILS) vehicle to be governed by French law. For the first…
Read MoreRSA & QBE say reinsurance to cover new BI claims after Court ruling
After Friday’s ruling from the UK Supreme Court found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals, insurance carriers RSA Group and QBE, have said that at least a portion of the increase in gross pandemic losses due to the ruling are likely to be…
Read MoreHannover Re’s vehicle Kaith Re issues $76.4m of Seaside Re cat bond lites
Global reinsurance company Hannover Re has facilitated more private catastrophe bond transactions around this Janaury 2021 renewals, with the firms Kaith Re transformer having issued $76.4 million of Seaside Re cat bond lite notes, across seven transactions. These are the first Seaside Re private cat bond issuances to come to light in a year and…
Read MorePeak Re renews Lion Rock Re sidecar for 2021
Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, has renewed its collateralised reinsurance sidecar vehicle Lion Rock Re Ltd. for the third year in succession. At this stage, we’re not sure about the total size of Peak Re’s reinsurance sidecar renewal for 2021, but…
Read MoreBest of Artemis, week ending 17th January 2021
Here are the ten most popular news articles, week ending 17th January 2021, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Ten most read articles on Artemis.bm,…
Read MoreStudy Supports Casefor Flood Mitigationas World Warms
Intensifying rainfall fueled by climate change over the past 30 years has caused nearly $75 billion in flood damage in the United States, according to a study by Stanford University researchers. The findings, published in the journal Proceedings of the National Academy of Sciences, shed light on the growing costs of flooding and the heightened risk…
Read MoreAuto insurance rates decline across the U.S.
Auto insurance rates declined in 2020 for the first time in a decade, according to a recent survey by ValuePenguin.com. The survey results anticipate a 1.7 percent decline nationally. A major factor in the decline are the pandemic-related discounts granted by insurers in 2020. These discounts have been valued at $14 billion, according to Triple-I…
Read MoreLloyd’s ILS platform to reduce frictional cost of investor access: Clifford Chance
London Bridge Risk PCC Limited, the newly established insurance-linked securities (ILS) vehicle sponsored by Lloyd’s, will “reduce the frictional costs and time” required for ILS investors to access the returns of the insurance and reinsurance market, law firm Clifford Chance has said. London Bridge Risk PCC Limited, is a newly established UK domiciled Multi-arrangement Insurance…
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