Insurance

Randall & Quilter (R&Q) Investment Holdings, the specialist non-life insurance and reinsurance legacy investor and program manager, has registered its wholly owned Bermuda reinsurance subsidiary R&Q Re (Bermuda) Ltd. under as a segregated accounts company (SAC), opening up potential new avenues to third-party capital. R&Q has always made it clear that bringing third-party capital within…

Global insurance and reinsurance firm Chubb reported $925 million of pre-tax catastrophe losses for the third-quarter of 2020, which was net of reinsurance recoveries. The catastrophe loss impacts dented Chubb’s core operating income, but at the same time the carrier expanded its book by more than 5% across all its core units. Chubb broke the…

Hurricane Zeta is forecast to make landfall in Louisiana later today, Wednesday, and the hurricane is strengthening as it tracks towards the northern Gulf Coast, with sustained winds now reaching 90 mph and a chance of the storm attaining Category 2 status before it makes landfall. Hurricane Zeta has benefited from a reduction in wind…

Cerulean Re SAC Ltd., the private catastrophe bond and insurance-linked securities (ILS) issuance vehicle operated by reinsurance broker Guy Carpenter and Marsh Captive Solutions, has completed another issuance and listed three tranches of Cerulean Re SAC Ltd. (Series 2020-B) notes. The Cerulean Re vehicle was launched in 2017 by Guy Carpenter’s capital markets and ILS…

U.S. primary mutual insurer USAA has increased its target size for its latest catastrophe bond, with the insurer now aiming to secure as much as $400 million of multi-year, fully collateralized, multi-peril catastrophe reinsurance protection from the capital markets with its new Residential Reinsurance 2020 Limited (Series 2020-2) transaction. USAA returned to the catastrophe bond…

Evidence of third-quarter 2020 catastrophe loss impacts and trapped capital are seen in Markel Corporation’s third-quarter 2020 results, as the company reported reduced revenues from its insurance-linked securities (ILS) operations, primarily due to a decline in management fee income at Nephila Capital for the period. Nephila Capital, the largest dedicated insurance-linked securities (ILS) investment manager…

Large loss events in the third-quarter of 2020 dented performance at Bermuda based reinsurance firm RenaissanceRe’s third-party capital joint ventures and managed insurance-linked securities (ILS) funds, resulting in a decline in performance fees. RenaissanceRe (RenRe) had already pre-announced an expected hit to its third quarter 2020 results of operations from major catastrophe losses experienced during…

The insurance-linked securities (ILS) market has performed admirably through the COVID-19 pandemic, demonstrating that the capital markets remained largely open for transfers of risk and that even under extreme risk scenarios ILS investors can be relied upon to support protection buyers need for risk capital. This bodes well for the future use of ILS as…