News relating to the Bermuda and international insurance and reinsurance industry.
Genworth Mortgage Insurance (Genworth MI), a subsidiary of Genworth Mortgage Insurance, has obtained $302.8 million of fully collateralised excess of loss reinsurance coverage from Triangle Re 2019-1 (Triangle Re).
Aon Securities, Aon’s investment banking division, has launched Randolph Re, a new private placement catastrophe bond platform.
Willis Re Securities has structured and placed €120 million of ILS to provide reinsurance capacity for Covéa Mutual Insurance Group, France’s largest domestic P&C insurance group.
Artex Risk Solutions has completed its purchase of Horseshoe Insurance Services Holdings.
The value of non-life capacity issued and outstanding at the end of the third quarter was at a near-record high of $27.3 billion, exceeded only by the year-end figure of $27.8 billion for 2018, according to the new ILS Market Update from Willis Re Securities.
The reinsurance market is not yet providing a “suitable, sustainable, and scalable response to meet the challenge of a cyber catastrophe,” according to Devin Page, head of specialty reinsurance at Hiscox Re.
Rick Montgomerie and Charlie Vaughan, the portfolio managers for Markel CATCo Investment Management’s Aquilo Fund, are leaving the company to establish a new investment manager and fund, along with Elizabeth Simmons, Aquilo's underwriter.
The ILS market must broaden the risks that it covers, according to Des Potter, managing director at GC Securities.
The ILS market must get better at understanding natural catastrophe event frequency, according to a panel at Convergence 2019.
The introduction of insurance open protocol reporting (IOPR) can benefit the whole industry, according to Michael Hamer partner & senior analyst at Albourne Partners.