Hiscox Re & ILS adds von Herberstein as underwriting partnerships manager
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.
Szakmary to exit Hiscox for AlphaCat CUO role
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.
AGCS names Brown head of Capital Solutions as Boyd exits
Allianz Global Corporate & Specialty (AGCS) has named David Brown as head of its ILS arm in Bermuda.
Horseshoe hires Faries as CEO with Perez to become executive chairman
Former Tokio Millennium Re Bermuda head Kathleen Faries has been appointed CEO of ILS specialist Horseshoe.
Elementum promotes Pirilla Walter and hires GC from RenRe
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.
Aeolus hires Lancashire’s Richardson as portfolio manager
ILS fund manager Aeolus Capital Management has hired Lancashire’s head of property treaty Andy Richardson as a portfolio manager.
Willis Re: Cat bond momentum continues with $2.8bn of Q1 issuance
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 returns to ILS market with upsized $400mn Torrey Pines cat bond
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 in MILN benchmark rate first with $643mn Bellemeade Re deal
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).
Hamilton sponsors $150mn 144A catastrophe bond Easton Re
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 ILS funds handed ESG classification
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.
Danish Red Cross and Howden team up on first ever volcano cat bond
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.
Integral ILS to use Core Specialty paper on Amwins MGA business
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.
Leadenhall steps up ESG focus as it develops new criteria for counterparties
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.
World Bank pulls record $1.36bn Pacific Alliance cat bond
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 now at seven year high
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.
Cat bonds slump in secondary market following Uri
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.
RenRe names Parry as head of rebranded Capital Partners unit
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 confirms property capacity partnership with ILS manager Integral
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.
Stonybrook shines light on opaque ILW pricing
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.