All ILS articles
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NewsVesttoo build-out continues as Sola joins to lead global capital markets unit
Insurtech marketplace Vesttoo has recruited ILS industry veteran and investment executive Stefano Sola as global head of capital markets, the latest prominent senior hire the fast-growing platform has announced in recent months.
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Credit Suisse sells $400mn Kelvin Re run-off to Cowen
The Guernsey-domiciled reinsurance vehicle put into run-off by Credit Suisse in December 2020 – Kelvin Re – has been acquired by New York-based investment bank Cowen.
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Miller continues Bermuda and ILS unit expansion with Markel’s Duda
London-headquartered Miller has continued to build out its Bermuda platform as well as its ILS capabilities with the appointment of John Duda as head of ILS development and capital management products.
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ILS fund Leadenhall: new deputy CEO provides “clarity” on Albertini succession
Leadenhall Capital Partners has promoted Lorenzo Volpi to deputy CEO in a move the ILS fund manager said “provides clarity” on its future succession plans.
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Core Specialty bolsters reinsurance program with $65mn cat bond
Core Specialty has completed the placement of its $570mn property reinsurance program which for the first time includes support from a newly minted 144A catastrophe bond.
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Peak Re secures $150mn of retro cover through innovative HK-based cat bond
Peak Re has secured $150mn of retrocession coverage through the issuance of a 144A catastrophe bond which the company said is the first to be issued by a Hong Kong-based special purpose insurer (SPI).
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TWIA upsizes traditional reinsurance to $936mn
The Texas Windstorm Insurance Association (TWIA) has completed its 2022 reinsurance program with a total of $2.036bn of private market risk transfer that includes its new $200mn Alamo Re cat bond issue and $936mn of traditional limit, up from $830mn on the expiring structure.
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Scor confirms $240mn Atlas Capital cat bond
Paris-headquartered Scor has successfully sponsored a new catastrophe bond – Atlas Capital Reinsurance 2022 DAC – which will provide the carrier with multi-year risk transfer capacity of $240mn.
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Scor secures $240mn of retro cover with latest Atlas cat bond
Paris-headquartered reinsurer Scor has secured $240mn of multi-peril retro cover from capital markets for its latest Atlas Capital Re catastrophe bond.
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Beat Syndicate 4242 victorious in long-running Irma collateral dispute with ILS fund Securis
The infamous $21.6mn+ reinsurance collateral dispute between Syndicate 4242 and ILS fund manager Securis has finally been resolved after an arbitration hearing appeared to broadly find in favour of the Lloyd’s insurer, The Insurer can reveal.
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Scor lifts Atlas Re cat bond target to up to ~$250mn as raises price guidance
Global reinsurer Scor has increased both the target size of its latest Atlas Capital Re catastrophe bond and also the return guidance as the specialist ILS sector continues to experience risk pricing at a near-term high.
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Cat bond issuance spreads approaching six-year high: Leadenhall Capital
Average catastrophe bond issuance spreads are approaching a six-year high, Leadenhall Capital Partners has highlighted in an update, with a sudden reversal unlikely because issuance activity is expected to remain strong.
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SafePoint looks to upsize cat program as Manatee Re cat bond non-renews
SafePoint and its broker Gallagher Re have been meeting with London reinsurers as the US insurer seeks to significantly increase the limit on its 1 June renewing cat program after taking on a number of portfolios from companies in receivership and being unable to renew its cat bond, The Insurer ...
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Scor returns to Dublin for imminent $150mn+ retro cat bond issue
Scor has established a new Ireland-domiciled company – Atlas Capital Reinsurance 2022 DAC – ahead of returning to the capital markets to bolster its retro covers, The Insurer understands.
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Fleming to build out capital solutions platform with $150mn Altamont investment
Altamont Capital Partners has bought a majority stake in Fleming Holdings and committed $150mn of capital to the platform as it looks to grow with an expanded suite of legacy and prospective capital solutions aimed at middle market P&C carriers, The Insurer can reveal.
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Vesttoo adds legal specialists Schonbrun and Goldfried to NY office
Vesttoo has added to its New York based team with the hires of legal specialists David Schonbrun and Daniel Goldfried.
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Everest’s Mt Logan Re hires Sfaif as COO from PGGM
Everest Re’s third party capital unit Mt Logan Re has hired Youssef Sfaif as chief operating officer, with the capital markets and reinsurance convergence specialist joining from PGGM.
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Reciprocal SURE closes first cat bond in $150mn placement
Coastal property reciprocal insurer SureChoice Underwriters Reciprocal Exchange (SURE) has closed a $150mn catastrophe bond, Gateway Re, which provides three years of indemnity-based hurricane and named storm protection in Alabama, Louisiana, Mississippi and Texas.
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Credit Suisse wins $20mn Aeolus Jebi cat swap dispute
A Bermuda Supreme Court judge has ruled in favour of a group of entities tied to the ILS arm of Credit Suisse, settling a long-running dispute with Bermuda-based Aeolus Re, The Insurer can reveal.
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Aon: Reinsurance capital up 3.8% in 2021; ILS uncertainty to be “short-lived”
Aon has estimated global reinsurance capital increased 3.8 percent in 2021 to $675bn, as traditional capital hit a new peak of $579bn and alternative capital grew to $96bn, with the broker also expecting the current ILS market uncertainty resulting from geopolitical and currency volatility “to be relatively short-lived”.
