$100bn ILS appetite will continue despite rising yieldsTraditional reinsurers who have faced fierce pricing competition from the pension funds and other investors in the ILS sector are naive if they think the sector will diminish with rising interest rates.
Alternative capital put to the testBertrand Romagne, CEO Europe and CUO, P&C International reinsurance at Axa XL on the burgeoning ILS alternative capital market and the importance of scale
Markel CatCo warns of single-digit NAV hit from Michael and JebiRetro reinsurance investment specialist Markel CatCo said it expects its net asset value (NAV) to take a single digit hit as a result of cat losses from both Hurricane Michael and Typhoon Jebi.
Hannover Re takes 2018 cat bond issuance over $1.5bnHannover Re has demonstrated its pre-eminence in the ILS market with the issuance of a $125mn Californian wildfire cat bond, SD Re Ltd.
ILS’ march into primary markets continues with Victor moveFurther evidence of the expansion of alternative capital deep into the primary commercial markets was provided today with the appointment of a global head of capital markets to MMC’s MGA arm.
Securis: collateral release ends reinsurance exposuresILS fund manager Securis has made its position clear to ICat/Beat Capital that there is no obligation to pay the $13mn+ in reinsurance recoveries claimed by its Syndicate 4242 because of the contractual wordings that cover the release of collateral securing the placement.
Don’t mistake convergence for equality…Sometime between the sidecars rolling off the post-KRW production line in 2005 and the collapse of Lehman Bros three years later, it became fashionable to talk of convergence between the alternative and traditional cat reinsurance markets.
Securis collateral dispute overshadows Lloyd’s negotiationsNegotiations are continuing between major ILS provider Securis and the Lloyd’s (re)insurer Syndicate 4242 over the current inability of Securis to honour up to $21.5mn of cat liabilities following the premature release of 2017 collateral.
Hiscox appoints Breeze Re & ILS CFOHiscox has named Liz Breeze as its chief financial officer of its reinsurance and alternative capital arm - Hiscox Re & ILS.
AGCS restructures alternative capital businessAllianz’s Alternative Risk Transfer (ART) business is to be split into two separate units.
Iran exploring ILS market: reportIran is exploring the development of new financial products – including Islamic bonds and insurance-linked securities – in an attempt to relieve pressure on the economy, Reuters has reported.
First quarter ILS issuance up 54 percentFirst quarter ILS issuance activity rose 54 percent in year-on-year as alternative capital markets bounce back after the impact of Hurricanes Harvey, Irma, Maria, according to the Bermuda Monetary Authority.
Hiscox Re & ILS names Dolphin chief operating officerLondon-listed carrier Hiscox has promoted Andrew Dolphin to the position of chief operating officer of its reinsurance and alternative capital arm - Hiscox Re & ILS.
Leadenhall Capital expands with Markel analystLeading London-based ILS fund manager Leadenhall Capital has tapped Markel for Sam Maynard as it continues to build out its non-life portfolio management team.
A reason to be cheerful...In January – amidst the gloom of mid-winter and the disappointing 1.1 renewals – we pointed to signs of optimism.
AIG sees 'a lot of runway' in ILS: DuperreaultThere is major scope for AIG to build products for the insurance linked security (ILS) market, AIG’s president and chief executive officer Brian Duperreault has said.
Changing MGAs to change the chain: EdOnce again, the cycle of MGA popularity is growing, writes Robert Wildbore of Ed’s reinsurance division.
Alternative capital reaches record-breaking $98bn: Aon SecuritiesAlternative capital available in the (re)insurance market has hit $98bn – a record for the sector - according to Aon Securities.
JLT Re taps Aon for Capital Solutions directorJLT Re has taken Aon Benfield’s corporate solutions director Vijay Mavani as the broker looks to expand its Global Capital Solutions business.
Cyber ILWs come closer to reality with new PCS cat launchThe industry’s understanding of its full loss exposures to major cyber events took a significant step forward this week with the launch of a new cat cyber loss index that may eventually lead to greater reinsurance and retro capacity being devoted to the fast expanding class.