
Here are the ten most popular news articles, week ending 12th January 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.Neon Underwriting, the specialty insurance and reinsurance operation that is part of American Financial Group, Inc., is to go into run-off, as its parent decided that it isn’t generating a sufficient return on its investment through its participation at Lloyd’s.
Global reinsurance firm Hannover Re is back in the catastrophe bond market to source a slice of its own retrocessional coverage, with a $100 million or greater international multi-peril 3264 Re Ltd.(Series 2020-1) cat bond transaction.There has been another sharp increase in insurance industry losses from the Australian bushfire season, as the total has now reached A$995 million and will rise further in the coming days.
A very interesting new insurance-linked securities (ILS) transaction has been launched to investors we’re told, in the shape of a $100 million Stratosphere Re Ltd.(Series 2020-1) catastrophe bond that we’re told will provide a source of reinsurance to cover certain primary insurance tail risks that were underwritten by and for ILS fund manager Nephila Capital.Stone Ridge Asset Management has raised significant new funds and commitments for quota share reinsurance investing for 2020, with these new funds raised outside of the managers typical mutual ILS funds and CEO Ross Stevens saying this new strategy will support about $1.5 billion of assets and also invest in non-catastrophe risks.
The latest catastrophe bond from global reinsurance firm Swiss Re has been well-received by the ILS investor base, helping the Matterhorn Re Ltd.(Series 2020-1) cat bond double in size while marketing to become a $350 million issuance.Lloyd’s specialist insurance and reinsurance player Beazley and Bermudian reinsurance firm and third-party capital manager RenaissanceRe have collaborated on an innovative capital markets backed cyber catastrophe reinsurance arrangement.
Investment management giant PIMCO has continued to build on activities within its relatively recently launched dedicated insurance-linked securities (ILS) operations PIMCO ILS, with more capital flowing to its ILS fund for this renewal.Rates-on-line for non-marine retrocessional reinsurance contracts were up by as much as 40% in the January 2020 renewals, as the segment experienced significant volatility, according to Hyperion X data.One of the insurance-linked securities (ILS) fund managers that achieved growth in advance of the all-important January reinsurance renewals was Tangency Capital, who secured investor inflows to lift its assets under management by 50% to around $400 million.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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Publisher: Artemis