News relating to the Bermuda and international insurance and reinsurance industry.
Arch Mortgage Insurance Company (Arch MI) has secured over $643 million of indemnity reinsurance on a pool representing approximately $38 billion of mortgages from Bellemeade Re 2021-1, a special purpose reinsurer.
Peak Reinsurance, the Hong Kong-based global reinsurer and ILS specialist, has appointed Iain Reynolds and Andy Souter as co-heads of property and casualty (P&C).
The insurance-linked securities (ILS) and traditional reinsurance markets overcame “extraordinary losses in 2020” in the January 2021 renewals, with capital now back to pre-pandemic levels of $485 billion, according to AM Best.
Guernsey has unveiled the first humanitarian catastrophe bond.
Hamilton Insurance Group has elected to issue its first catastrophe bond in Singapore.
Integral ILS, the independent Insurance-Linked Securities (ILS) fund manager, has launched a new US property insurance initiative, with risks underwritten by Amwins and policies issued through subsidiaries of Core Specialty Insurance Holdings.
RenaissanceRe Capital Partners has snared Roger Beach, the former assistant vice-president of Aon’s ILS unit, as a senior analyst.
Miller has appointed Charlie Simpson as head of Bermuda.
ERS, the UK-based specialist insurer, is raising $350 million in capital via Abry Partners and Aquiline that will finance its expansion into specialty reinsurance and a new Bermuda-based specialty re/insurance vehicle and an ILS manager.
Over $11.3 billion of insurance linked securities (ILS) were issued in 2020 making it a record year for new issuance, up over 106 percent on the levels seen in 2019, according to Swiss Re’s 34th ILS Market Insights report.