Asia, Hong Kong

Peak Re unveils $75mn sidecar Lion Rock Re


Hong Kong-headquartered Peak Re has unveiled a $75mn special purpose insurer (SPI) which it describes as Asia’s first-ever sidecar.


StarStone ends QS with ILS fund Securis


StarStone has ended its partnership with major ILS provider Securis, The Insurer can reveal.


Loss creeps “challenging” alternative capital markets: Swiss Re


Escalating losses – such as the loss creep witnessed in the aftermath of Hurricane Irma in 2017 – have proved “challenging” for the alternative capital markets, Swiss Re has said.


Markel CatCo share price falls to all-time low on NAV hit warning


Shares in the listed fund of retro investment specialist Markel CatCo fell nearly 30 percent in London trading today (22 November) as the firm revealed Q3 nat cats will generate a further hit to the net asset value (NAV) of securities in its London-listed fund.


Brit launches onshore ILS platform Sussex Capital UK


Fairfax Financial-owned Lloyd’s insurer Brit Ltd has launched the first transformer vehicle under the UK’s new ILS regime to provide collateralised reinsurance capacity to multiple cedants.

Australia, forest fire

Cal Phoenix Re cat bond priced as total loss


The $200mn Cal Phoenix Re Ltd ILS is being priced as an effective total loss in the secondary cat bond market which also suggests investors believe PG&E’s $1.4bn insurance program will be totalled by the ferocious Californian Camp fire.

PG&E-Share-price cali

$200mn Cal Phoenix Re cat bond facing wildfire trigger


Cal Phoenix Re Ltd, the first ever cat bond to cover pure wildfire risks, is expected to be triggered only three months after it was issued.


Hiscox Re & ILS swoops on Ariel Re for international chair


Hiscox has named former Ariel Re underwriter Daniel Vestergren as chair of international of its reinsurance and alternative capital arm - Hiscox Re & ILS.


Markel completes $975mn Nephila purchase


Markel has completed its acquisition of the industry’s largest ILS fund manager, Nephila Holdings.


German reinsurance heavyweights predict ILS slowdown


There is growing speculation that the seemingly unstoppable rise of the ILS market – estimated by Aon Benfield to be at $98bn at mid-year – will slow down at 1.1 or possibly even shrink marginally.


Record $1.6bn ILS capacity issued in third quarter


A record-high $1.6bn of non-life ILS capacity was issued in the third quarter of 2018, as enthusiasm for alternative capital continued for ILS amongst both issuers and investors.

Kevin o'donnell renre

RenRe likely to end TMR’s ILS fronting services in 2021


RenRe has confirmed that it will not continue with the reinsurance/ILS fronting services provided by Tokio Millennium Re (TMR) after its $1.5bn acquisition completes.


Nephila acquisition to cost Markel $975mn


Markel has revealed it will pay $975mn in cash for ILS manager Nephila in its third quarter results.

Luca albertini 900px

Leadenhall raises $600mn to take AuM to new record size


On the eve of its tenth anniversary, ILS fund manager Leadenhall Capital Partners has confirmed it has expanded its assets under management (AuM) to a new record size of $5.2bn.


Blanch launches new Florida cat broker COIN Re


Industry veteran Ted Blanch has launched a new Florida-focussed reinsurance intermediary, COIN Re, with a mission to “align interests” with insurers by providing them with an economic interest in the new firm.

ILS financial markets

$100bn ILS appetite will continue despite rising yields


Traditional 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.

Typhoon Mangkhut

Markel CatCo warns of single-digit NAV hit from Michael and Jebi


Retro 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 $1.5bn


Hannover 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 move


Further 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 exposures


ILS 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.