Insurance
Hurricane Eta US industry loss estimated around $550m by Aon
Insurance and reinsurance broker Aon has said that hurricane Eta has likely caused around $550 million of insurance market losses in the United States, but its economic toll in Central America was significantly higher. Hurricane Eta struck and caused extensive losses in Nicaragua in November, also impacting Honduras and Guatemala in Central America. The hurricane…
Read MoreOctober 2020 Queensland hailstorm industry loss said A$1.231bn
The insurance and reinsurance market loss from the October 2020 south-east Queensland, Australia hailstorm event has been preliminarily estimated at A$1.231 billion by PERILS AG. The hailstorm was designated as the first catastrophe to strike Australia of the 2020-21 season by the Insurance Council of Australia (ICA), with an expectation that it could drive a…
Read MoreFirst parametric wildfire cat bond Power Protective Re prices up 9%
The first ever parametric solely wildfire exposed catastrophe bond to hit the market, the $50 million Power Protective Re Ltd. (Series 2020-1) transaction being sponsored on behalf of a municipal water utility operating in the Los Angeles area, has seen its pricing move up by around 9% before it closed. The Power Protective Re catastrophe…
Read MoreTravel Risk: It’s NotAll About COVID-19
Anticipation that a COVID-19 vaccine – combined with social distancing, mask wearing, and other protective measures – may soon lead to increased travel revives our need to think about travel insurance. Even before COVID-19, travel insurance purchases were on the rise, but primarily for trip cancellation coverage – the very product that wound up disappointing…
Read MoreStrategic decisions by investors drove Kelvin Re & Humboldt Re shuttering: Credit Suisse
The shuttering of Guernsey based, Credit Suisse Insurance-Linked Strategies supported, reinsurance firms Kelvin Re and Humboldt Re is due to strategic decisions being taken by the ultimate institutional investors behind them, a Credit Suisse spokesperson told us. As we reported earlier this week, reinsurance firms Kelvin Re and Humboldt Re are to cease underwriting new…
Read MoreCEA to keep risk transfer target stable in 2021, Q1 cat bonds possible
The California Earthquake Authority’s (CEA) reinsurance program has shrunk slightly in the last few weeks, as $400 million of Ursa Re catastrophe bonds matured. But the Authority is aiming to keep its risk transfer target stable for 2021, suggesting more catastrophe bond issues are possible early in the new year. The CEA’s reinsurance and catastrophe…
Read MoreFidelis takes capital over $2.4bn, plus its cat bonds & sidecar quota shares
Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has taken its capital raising efforts in 2020 to more than $1.3 billion and that’s just its equity and debt raises. Fidelis has expanded its capital base significantly over the year, more than doubling its total capital to over $2.4 billion…
Read MoreAXIS’ Alturas Re sidecar issues almost 3.63m of preferred shares
AXIS Capital’s collateralised reinsurance sidecar vehicle Alturas Re Ltd. has completed another issuance of preferred shares, as the specialist global re/insurer continues to expand options for third-party investors to participate in its underwriting returns through quota shares. AXIS continues to expand its insurance-linked securities (ILS) activities, especially its use of private quota share reinsurance arrangements…
Read MoreLeadenhall Capital Partners hires new Portfolio Manager
London headquartered insurance-linked securities (ILS) and reinsurance related investments manger Leadenhall Capital Partners LLP has added a new Portfolio Manager hire, employing Lionel Daniele who has more than fifteen years’ experience in investment banking and trading. Leadenhall confirmed Daniele’s hire, saying that he joined the firm in November in the role of Portfolio Manager. The…
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