News relating to the Bermuda and international insurance and reinsurance industry.
Peak Reinsurance Company (Peak Re) will acquire Lutece Holdings, the Bermuda based dedicated ILS asset manager, in a transaction that is expected to close within weeks.
Vario Partners, part of the Bermuda-based Vario Group, is partnering with Hyperion X, the technology and analytics division of Hyperion Insurance Group, to provide collateralised, whole account stop-loss reinsurance cover.
COVID-19 could ultimately lead to increased interest in ILS structures among investors, according to Henri Winand, CEO of AkinovA, the electronic ILS trading platform that operates in the Bermuda Monetary Authority’s regulatory sandbox.
Synpulse has created a new ILS practice to provide consulting services to clients that are active in this industry.
Canopius Group, has taken a majority stake in Multi-Strat Holdings, the Bermuda-based reinsurance group that writes both prospective and retrospective casualty reinsurance sourced through select reinsurance intermediaries.
The insurance-linked securities (ILS) market has provided reinsurance capital of between $88 billion and $93 billion, according to new AM Best’s Commentary, titled Insurance-Linked Securities Market Looks to Future After Servicing Record Cat Losses.
John Butler, the head of Cohen & Company’s US insurance asset management platform and global ILS programme, has joined the advisory board at Kovrr.
Global reinsurer capital was up 7 percent to $625 billion in the first nine months of 2019, according to Kroll Bond Rating Agency (KBRA).
The ILS market can grow tenfold by embracing standardisation and developing new products, particularly ones that offer cyber exposure, according to Henri Winand, CEO of AkinovA, the electronic marketplace for trading re/insurance risk.
Prospero Re plans to restructure its operating model to retain the benefits of the collateralised reinsurance model while adding an element of leverage that is more reflective of traditional reinsurers, according to Kroll Bond Rating Agency (KBRA).