
Here are the ten most popular news articles, week ending 1st November 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics.To ensure you never miss a thing or get our email alerts for every article we publish.The current market environment is not a traditional hard market, as this is an “underwriting driven” hard market, where carriers are being forced to ensure they can deliver a profit from their underwriting sides going forwards Securis Investment Partners, the London-headquartered insurance and reinsurance linked asset manager, has launched a new Insurance Solutions Group as it seeks to expand the range of insurance-linked securities (ILS) investment options available to it.
Sources told us that two Florida primary insurance carriers are likely to head into receivership and be deemed insolvent within a matter of days, with the regulator set to act perhaps as soon as Monday.The Philippines government’s World Bank facilitated IBRD CAR 123-124 catastrophe bond transaction is under threat from typhoon Goni, which may cause a partial loss of principal for investors in the cat bond if it maintains significant wind speeds as it approaches Manila.Impacts and in particular wind damage from hurricane Zeta have spread far inland across the United States, bringing back memories of Isaias earlier this year.
Reinsurance pricing may remain in a hard market for multiple years, according to analysts at Jefferies who believe dented capacity and still trapped ILS collateral can sustain current market conditions.McGill & Partners, the boutique risk solutions firm launched by former Aon President Steve McGill, has hired Nicky Payne, previously active underwriter of the Credit Suisse Insurance Linked Strategies owned Lloyd’s syndicate Arcus 1856.Placing ILS fund manager Nephila Capital as the single point of entry to the property catastrophe reinsurance market for Markel Corporation is seen as a “cleaner option” for the company and also a way of generating operational efficiencies.
Global Atlantic has put its co-investment vehicle named Ivy, which operates as a kind of sidecar structure, to work in a $5.7 billion annuity reinsurance deal with American Financial Group affiliate, Great American Life Insurance Company.Swiss Re has reported a solid third-quarter of net income that has helped to narrow its group net loss for the first nine months of the year, despite further additions to its reserves for the COVID-19 pandemic that have now reached US $3 billion.This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago.
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