Insurance
Knead to Know – Basics for Business Survival
Dimitri Mikhaylov working the front register at Chelsea Bagel of Tudor City By Kris Maccini, Social Media Director, Triple-I In support of Small Business Saturday, November 28, the Insurance Information Institute spotlights Chelsea Bagel, a business that has stayed resilient during the pandemic. Deciding on your local bagel shop is a quintessential part of becoming…
Read MoreGlobal Parametrics & Hannover Re complete index-based water risk transfers
Global Parametrics has structured and backed with capital from its Natural Disaster Fund (NDF) two index triggered water risk transfer arrangements covering smallholder farmers in India and Tanzania, with reinsurance giant Hannover Re providing some of the risk capital to support the deals. The two parametric risk transfer arrangements have been developed using Global Parametrics…
Read MoreU.S. wildfire losses reach $11.5bn after October: Jefferies
Insurance and reinsurance industry losses from wildfires in the United States are now estimated to have reached around $11.5 billion, making 2020 the third most costly wildfire season on record for the market. Image: Noah Berger / AP. This is according to analysis by investment bank Jefferies and based on data sourced from reinsurance market…
Read MoreAriel Re’s private equity buyout from Argo completes
The previously announced acquisition of Ariel Re by private equity investors from its owner Argo Group has now been completed, putting the reinsurance company back on a private footing as a pure-play reinsurance underwriter and manager of third-party capital. Ariel Re will continue to have a focus on both traditional and alternative sources of capital,…
Read MoreBrit seeks $250m catastrophe bond using UK vehicle Sussex Capital UK PCC
Specialty insurance and reinsurance player Brit Ltd. is entering the catastrophe bond market for its first full 144a deal and is utilising its UK domiciled multi-use collateralised reinsurance PCC vehicle, Sussex Capital UK PCC Limited, for the $250 million U.S. multi-peril Sussex Capital UK PCC Limited (Series 2020-1) issuance. Brit registered and licensed its UK…
Read MoreILS tech can be used to transfer pandemic risk: Syroka, Fermat Capital
The World Bank’s 2017 pandemic catastrophe bond has provided a blueprint for how insurance-linked securities (ILS) technology can be leveraged to transfer pandemic risk, according to Joanna Syroka, Director of New Markets, Fermat Capital Management, LLC. Issued in July of 2017 by the World Bank on behalf of its Pandemic Emergency Financing Facility (PEF), the…
Read MoreCohen & Co’s second re/insurance SPAC taking Metromile public, with Hudson Structured support
INSU Acquisition Corp. II, the second insurance, reinsurance and insurtech investment focused Special Purpose Acquisition Company (SPAC) launched by fixed income financial services focused investment specialist Cohen & Company, LLC, is taking insurtech Metromile public in a deal that also sees ILS and reinsurance investment manager Hudson Structured participating. Metromile is an auto insurtech that…
Read MoreCATCo successful in releasing another $8m of capital from side pockets
The CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, has successfully secured another release of trapped capital which will be returned to its investors. The Markel CATCo managed retrocessional insurance-linked securities (ILS) fund has been successfully unlocking trapped capital that had been set aside for potential losses in recent…
Read MoreHannover Re’s catastrophe retro program dominated by capital markets
Global reinsurance firm Hannover Re has the capital markets at the heart of its core catastrophe retrocession program, with investors supporting some 80% of its aggregate retro and 78% of its Cat XL coverage through K-Cessions. On the whole account side, the capital markets and insurance-linked securities (ILS) investors are a little less common, although…
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