ClaRe, Barbican’s newly-launched collateralised retro platform for Lloyd’s carriers, inked deals handing the vehicle exposure to nine syndicates at 1.1, re-Insurance.com understands.
Lloyd’s outgoing CFO John Parry has confirmed reports by this publication that ILS investors have shown little interest in providing reserve risk cover for the Central Fund.
Only months after raising $2.5bn from investors, collateralised retro fund manager Markel CatCo has announced a 19.5 percent reserve hit to its April net asset value (NAV) from growing 2017 cat losses mainly stemming from Hurricane Irma, the equivalent of hundreds of millions of dollars.
Willis Towers Watson has moved its ILS unit, which was previously sat in the same division as its primary insurance broking business, to be part of its reinsurance arm Willis Re.
Aon Securities has predicted $9bn worth of cat bonds will be issued by the end of year, slightly down from the record breaking 2017 issuance.
The continued development of the ILS market has the potential to seriously disrupt the traditional reinsurance cycle, Willis Towers Watson has said.
UK terrorism mutual Pool Re has appointed GC Securities to advise on a potential 2019 ILS issuance which would be a ground-breaking first for the fast-expanding alternative reinsurance markets, re-Insurance.com can reveal.
A new data analytics-led cyber (re)insurance platform, Envelop Risk, has been launched today (16 April) with a bold ambition to create next-generation cyber insurance products and deploy augmented-intelligence underwriting with support from the advanced US data analytics firm QxBranch and Scandinavian alternative investor, New Nordic Advisors.
Global reinsurance capital has continued to build despite the record catastrophes of 2017, according to Aon Benfield.
Investors should rein in any expectations of significant rate increases for US property cat treaties at the mid-year renewals despite last year’s $100bn+ of losses, warned JMP Securities analyst Matthew Carletti today (13 April).
The US Export-Import Bank (Exim) has purchased a $1bn limit reinsurance programme backed by the private market for the first time after working on the placement with broker Aon Benfield.
Mitsui Sumitomo (MSI) and Aioi Nissay Dowa (ADI), both subsidiaries of Japanese insurance giant MS&AD, have jointly sponsored a $320mn (33.9bn yen) cat bond for natural catastrophe risks in the country.
As Lloyd’s digests the responses to its recent “non-deal” ILS roadshow, it appears increasingly unlikely that it will contemplate adding reserve risk to a potentially innovative securitisation of the Central Fund next year, re-Insurance.com understands.