Insurance
Best of Artemis, week ending 27th December 2020
Here are the ten most popular news articles, week ending 27th December 2020, 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 MoreFlorida carrier performance worsens in 2020, even though hurricanes missed
Florida’s homeowner’s insurance carriers are struggling with their performance in 2020 and reporting significantly elevated combined ratios despite the fact this year’s hurricane activity largely avoided the State. In a new report, Fitch Ratings explains that, “Florida homeowners’ insurance specialists are reporting continued performance deterioration and a decline in capitalization levels.” This is despite a…
Read MoreBermuda’s new ISAC an all-in-one underwriting & ILS fund structure
New Incorporated Segregated Accounts Companies (ISAC) available under Bermuda law and regulation, will enable insurance-linked securities (ILS) managers, or investors, to operate both underwriting and investment fund activities within a single company structure. Now, this is a structure that has been talked about numerous times in the insurance-linked securities (ILS) market, as ILS investment managers…
Read MoreHannover Re’s “pivotal” retro program praised by AM Best
Global reinsurance firm Hannover Re had its ratings affirmed by AM Best yesterday and the agency cited the companies retrocession program as “pivotal” to its success. As we explained recently, Hannover Re has become a significant user of capital markets and insurance-linked securities (ILS) investor appetite for reinsurance related returns within its core retrocession covers.…
Read MoreMunich Re in first Eden Re II reinsurance sidecar renewal for 2021
Global reinsurance giant Munich Re has now completed the issuance of a first set of notes from its fully collateralized reinsurance sidecar vehicle Eden Re II Ltd. for this January renewal season, with a $55.1 million tranche of Series 2021-1 notes sold to investors. Munich Re’s collateralized reinsurance sidecar is a regular feature of the…
Read MoreRating unchanged on ILS Capital’s Prospero Re after business plan update: KBRA
According to rating agency Kroll Bond Rating Agency (KBRA), the now approved updated business plan for ILS Capital Management’s reinsurance company Prospero Re Ltd., which allows it to write both fully collateralized and traditional reinsurance with an element of leverage, does not warrant any change to the vehicles rating. Bermuda headquartered ILS fund and investment…
Read MoreThird re/insurance SPAC vehicle from Cohen & Co. raises $250m IPO
The third insurance, reinsurance and insurtech focused Special Purpose Acquisition Company, or SPAC, from fixed income financial services focused investment firm Cohen & Company, LLC has now successfully completed an upsized $250 million initial public offering (IPO). The SPAC, named INSU Acquisition Corp. III, launched its IPO process targeting a $200 million public offering of…
Read MoreAlternative capital’s return to growth may be slow to develop: RBC analysts
The alternative reinsurance capital and insurance-linked securities (ILS) sector may return to growth in 2021, but it may be slower than some expect, according to analysts at RBC Capital Markets. The analysts believe that losses suffered in 2o20 may be sufficient to hold back further significant growth of the ILS market and alternative capital levels…
Read MoreQuota share & ILW use rises in Bermuda, ILS use flat
The latest catastrophe risk and stress testing analysis by the Bermuda Monetary Authority (BMA) of its property and casualty insurance and reinsurance market shows up some interesting trends in the use of specific types of hedging, reinsurance and retrocession arrangements. Having surveyed its marketplace based on 2019 data, the results show that the mix of…
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