Insurance
Conduit Re writes $160m of premium, secures own cat reinsurance program
New reinsurance start-up Conduit Re has underwritten $160 million of premiums at the January 2021 reinsurance renewals and placed its first catastrophe reinsurance program, the company explained this morning. Conduit said that the portfolio underwritten consists of a targeted series of January attaching contracts, with a significant focus on quota share reinsurance business. It believes…
Read MoreLloyd’s ILS vehicle London Bridge Risk PCC approved for use
Lloyd’s has this morning announced that it has finally received all necessary approvals from regulators to set up its new multi Insurance Special Purpose Vehicle (mISPV), which is named London Bridge Risk PCC Ltd. The application for the registration of the UK domiciled mISPV structure, a protected cell company allowing for the transfer and trading…
Read MoreAetna returns for twelfth Vitality Re health insurance ILS, targets $200m
Aetna, the health, medical and benefits insurance arm of CVS Health, is back in the insurance-linked securities (ILS) market with what will be the firms twelfth sponsorship of a Vitality Re, health insurance linked catastrophe bond structure, seeking $200 million of reinsurance from a Vitality Re XII Ltd (Series 2021) transaction. Aetna’s Vitality Re series…
Read MoreRenRe reports $170m cat & $175m COVID (largely property) losses in Q4
RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has pre-announced an expected $345 million of losses from natural catastrophes and COVID-19 suffered during the fourth-quarter of 2020. As a result of these losses, RenaissanceRe (RenRe) says that when it announces its Q4 2020 results in the coming weeks it expects to report…
Read MoreElementum hires Todor Todorov for Business Development & Investor Relations role
Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the hiring of Todor Todorov, who most recently worked at Willis Towers Watson in its Investment Manager Research team. Todorov led Willis Towers Watson’s Investment Manager Research team’s activities in the insurance-linked securities (ILS) space and is well-known in the…
Read MoreHudson Structured Capital Management hires Adrian Jones from SCOR
Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, has announced a key hire as Adrian Jones, formerly of SCOR, joins the firm. Jones is joining Hudson Structured Capital Management Ltd., which undertakes its re/insurance business as HSCM Bermuda (HSCM), to assist in expanding the firms’ re/insurance and insurtech…
Read MoreMunich Re reinsurance sidecar Eden Re shrinks to $235m for 2021
Munich Re has now completed the usual two tranche issuance for the renewal of its fully collateralized reinsurance sidecar vehicle Eden Re II Ltd., with the amount of capital backing the sidecar for 2021 down some 18% at $235 million. As we reported back in December, Munich Re completed the issuance of a first set…
Read MoreHowden blurs lines, sets up capacity vehicle, taps third-party capital
Howden Group, the insurance and reinsurance group with both broking and underwriting at its heart, continues to blur lines, with its latest initiative being the establishment of a capacity vehicle that has third-party capital backing from an investor and will channel reinsurance underwriting capital to its DUAL MGA group. Howden Group announced that the new…
Read MoreCanopius enhances Bermuda platform with Class A licence for Canopius Re
Global specialty insurance and reinsurance group Canopius has expanded the utility and importance of its Bermuda reinsurance and insurance-linked securities (ILS) platform, reclassifying its reinsurer Canopius Re to have a Class 4 Reinsurer licence. Canopius’s Bermuda reinsurance and ILS operations consist of: Canopius Re Ltd (now a Class 4 Reinsurer); Canopius Underwriting Bermuda Limited (a…
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