News relating to the Bermuda and international insurance and reinsurance industry.
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ILS can be a $1trn market - if it embraces cyber risk: AkinovA CEO
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 operating model restructure: KBRA
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).
First of its kind parametric cloud outage product sold on AkinovA
An unnamed Asian technology company has purchased a parametric cloud outage product on AkinovA, the electronic marketplace for trading re/insurance risk, to protect itself against the risk of a cloud service provider outage.
Eagle Re issues first mortgage ILNs with exchangeable note feature
Eagle Re 2020-1 (Eagle Re) has funded $488 million of fully collateralised excess of loss reinsurance coverage for Radian Guaranty. The reinsurance was financed via the first mortgage insurance linked note (ILN) transaction to incorporate an exchangeable note feature.
Essent secures $496m reinsurance cover from capital markets
Essent Guaranty, a subsidiary of Essent Group, has obtained $495.9 million of fully collateralised excess of loss reinsurance coverage from the capital markets.
Innovative new products will drive ILS growth this year, predicts Adderley
This year will see a return to growth for the ILS market, with a range of new products helping clients manage new risks more effectively, according to Brad Adderley, partner at Appleby.
Hamilton appoints new lead executive for rebranded ILS platform
Hanni Ali has been named senior vice president of strategic partnerships at Hamilton Insurance Group, with oversight of the company’s ILS platform, which has also been rebranded.
Peak Re upsizes Lion Rock Re sidecar transaction
Peak Re, the Hong Kong-based reinsurer, has increased capacity in Lion Rock Re II, its reinsurance sidecar that follows up Asia’s first sidecar transaction last year.
The road ahead: 2020 predictions for Bermuda and ILS
Insurance-linked securities (ILS) on Bermuda have had an interesting few years, as the market continues to evolve to meet strong demand.
Triangle Re issues three mortgage ILNs
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).
