Insurance
Hamilton looks to Singapore for first full cat bond with Easton Re Pte. Ltd.
Hamilton, the Bermuda based insurance and reinsurance holding company, is entering the catastrophe bond market for its first full, syndicated Rule 144a transaction and Singapore is to be the domicile of choice, after the company registered Easton Re Pte. Ltd. as an issuer. Our sources told us that Hamilton would likely return to the catastrophe…
Read MoreEarly retro renewals suggest “significantly better expected returns” – KBW
Some of the earlier and larger retrocessional reinsurance programs in the market have received their firm orders or are completed, with indications that suggest rates are increasing even for some of the largest and most respected reinsurers in the market, suggesting much better returns are available for writing this business. The read-across to the insurance-linked…
Read MoreMunich Re lifts 2020 COVID-19 loss above $4bn, expects ~$720m more in 2021
Global reinsurance giant Munich Re has lifted its estimate for losses from the COVID-19 pandemic to more than US $4 billion for 2020, as the reinsurer increased its estimate significantly to account for fourth-quarter losses. In addition, Munich Re has announced that it is expecting another roughly US $720 million of COVID-19 losses to be…
Read MoreCore Specialty launches with $900m, adds Addesso & Larson to board
Core Specialty has now launched after the private equity capitalisation and rebranding of Enstar’s StarStone U.S. operations, with Jeff Consolino and Ed Noonan at the helm, while industry veterans Dominic Addesso and Don Larson have also been added to the board. As we explained back in June, Enstar was set to push back into U.S.…
Read MoreAXA XL reducing nat cat exposure, making active use of retrocession
AXA XL, the commercial property and casualty insurance and reinsurance arm of the AXA Group, is targeting a reduction in its natural catastrophe exposure over the coming years, as it looks to bring its business results to a sustainable and profitable level. Part of this is a drive to reduce exposure to natural catastrophe events…
Read MoreAuto damage claims growing twice as fast as inflation: IRC Study
The average payment for auto physical damage insurance claims increased at more than double the rate of inflation from 2010 through 2018, according to a new study from the Insurance Research Council (IRC). The study, Patterns in Auto Physical Damage Insurance Claims, found that average payments increased 3.7 percent annualized during the study period, while…
Read MoreAmerican Strategic owner returns for second Bonanza Re cat bond of 2020
ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has returned to the catastrophe bond market for the second time this year, to sponsor a $100 million or greater sized Bonanza Re Ltd. (Series 2020-2) issuance. ARX Holding owns the American Strategic group of insurance companies and also Progressive Property Insurance, which will benefit…
Read MoreHudson Structured exits Compre investment as Cinven & BCI acquire legacy specialist
Hudson Structured Capital Management, the investment manager with a reinsurance and insurance-linked securities (ILS) focus, has exited one of its legacy, or run-off sector investments, as specialist Compre has been acquired by private equity firm Cinven and pension benefits investment manager the British Columbia Investment Management Corporation (BCI), providing an exit opportunity. As we’d previously…
Read MoreThe 2020 hurricane season – a story of storm frequency & rapid intensification
The 2020 Atlantic hurricane season comes to its official close today and two factors characterise what has been a record-setting season in many ways, the frequency of tropical storms and their rapid intensification, especially as they close in on landfall. The 2020 Atlantic hurricane season saw a record number of named tropical storms form during…
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