Lloyd’s is moving forward with its plans of a market catastrophe bond that would add an extra layer of capital security to policyholders, the Corporation’s CFO John Parry has said, confirming previous reports by re-Insurance.com.
Despite paying out $400mn in claims in 2017, the collateralised retro fund manager Markel CATCo said today (12 March) that more than half of its year-end net assets in its listed CATCo Reinsurance Opportunities Fund are tied-up in sidepockets to pay for further losses and potential creep from last year’s ...
Insurance fund manager Twelve Capital is at risk of losing its EUR20m ($24.6mn) investment in Danish insurer Alpha, which was put into run-off earlier this month.
Fresh from its successful £2.1bn retro XoL renewal last week, the UK state-backed mutual terrorism reinsurer Pool Re is in talks with broker-dealers about issuing a ground-breaking insurance linked security (ILS) that will provide cover for terrorism losses including cyber coverage, re-Insurance.com can reveal.
The London-based ILS fund manager Leadenhall Capital Partners has launched a new “remote risk” fund with $22.5mn of seed capital, re-Insurance.com can reveal.
Legacy acquirer Quest Group is poised to launch a new Bermudian run-off vehicle with more than $300mn of capital, re-Insurance.com understands.
Lloyd’s (re)insurer Brit now manages over $400mn of capital for third-party investors seeking access to its underwriting with the expansion of its sidecar Versutus to $187mn for 2018.
London (re)insurer Beazley Group has confirmed it is exploring an entry into the nascent UK ILS market.
Aon Securities has put together a $1.36bn catastrophe bond for the World Bank which gives the institution cover for earthquake risks in Chile, Mexico, Colombia and Peru.
Markel CATCo, the collateralised fund manager that raised more than $2bn from investors late last year before increasing its 2017 loss estimates, said that it has placed over forty percent of its 1 January 2017 assets in its listed fund into a “side pocket” to cover losses and any deterioration.
Willis Towers Watson’s securities arm has estimated that $985mn of cat bond capacity was impaired by the wildfires that scorched California and the trio of Atlantic hurricanes which battered parts of the US and the Caribbean last year.
Lloyd’s has a “long way to go” in taking advantage of the new insurance-linked securities (ILS) legislation that came into force last year, the Corporation’s chief financial officer (CFO) John Parry has said.