Hiscox Re & ILS has hired Mary Margaret von Herberstein as underwriting partnerships manager in a role which will see her work with the platform’s quota share capacity providers, brokers and clients.
Adam Szakmary is leaving his position as co-CUO for Hiscox Re & ILS and director of underwriting for Hiscox Insurance Company (Bermuda) to take up the role of CUO at AIG’s ILS manager AlphaCat, The Insurer can reveal.
Allianz Global Corporate & Specialty (AGCS) has named David Brown as head of its ILS arm in Bermuda.
Former Tokio Millennium Re Bermuda head Kathleen Faries has been appointed CEO of ILS specialist Horseshoe.
Elementum Advisors has promoted Lynette Pirilla Walter to chief legal officer while the ILS fund manager has also brought in John Drnek from RenaissanceRe as general counsel in Bermuda.
ILS fund manager Aeolus Capital Management has hired Lancashire’s head of property treaty Andy Richardson as a portfolio manager.
The catastrophe bond market has built on the momentum it generated in Q4 2020 with $2.8bn of issuance seen in the first quarter this year amid significant demand for the product, according to Willis Re.
Palomar Holdings has closed a $400mn Torrey Pines Re catastrophe bond transaction covering earthquake risk, which was upsized from its initial $300mn target and issued out of Singapore.
Arch Mortgage Insurance (Arch MI) has obtained over $643mn of indemnity reinsurance through its first Bellemeade Re transaction of 2021, and the first mortgage insurance-linked note (MILN) transaction to use the Secured Overnight Financing Rate (SOFR).
Bermudian Hamilton has sponsored its first 144A industry loss index-triggered catastrophe bond Easton Re, which will provide the carrier with multi-year risk transfer capacity of $150mn to protect against named storm and earthquake risk in the US.
Twelve Capital’s commingled ILS funds have been classified as promoting environmental and social characteristics under the EU’s new climate change disclosure rules, as the fund manager steps up ESG processes in its investment portfolio management and risk selection.
The world’s first catastrophe bond for volcano-related disasters has been launched on behalf of the Danish Red Cross with support from Howden Group Holdings, with executives at the broker telling this publication that the transaction shows proof of concept for future deals.
Rebooted US insurer Core Specialty will issue policies and retain a portion of the risk for property business written by Amwins’ MGAs on behalf of Integral ILS.
ILS fund manager Leadenhall Capital Partners has unveiled plans to step up its environmental, social and governance (ESG) initiatives across both its underwriting and investment activities.
The World Bank has dropped its $1.36bn Pacific Alliance earthquake catastrophe bond, with sources suggesting the fallout from Covid-19 had led to the non-renewal of the placement, The Insurer can reveal.
Cat bond pricing is now at a seven year high and is predicted to increase further in 2021 in parallel with the firming, traditional reinsurance market.
A number of US-focused cat bonds have seen their prices slump in the secondary market last week following concerns that the winter storm Uri increases the likelihood of them being triggered.
RenaissanceRe has rebranded its Ventures platform with the formation of a new Chris Parry-led Capital Partners unit to house and manage all of its third-party capital relationships, joint ventures and managed funds including DaVinci, Medici, Top Layer, Upsilon and Vermeer.
AmWINS has announced a partnership with ILS manager Integral to increase the wholesale broker and MGU platform’s property capacity in three segments, in a move first revealed by The Insurer.
Boutique advisory firm Stonybrook Capital has launched a service designed to make the pricing of industry loss warranty (ILW) contracts more readily available and transparent.