News relating to the Bermuda and international insurance and reinsurance industry.
Markel has revealed that its ILS operations had grown “dramatically” from nothing to $92 million in 2018, in just five years and that it is “incredibly optimistic” about the future of its insurance linked securities (ILS) business despite ongoing investigations into recorded loss reserves at CATCo and its subsidiaries.
Pacific Investment Management Company (PIMCO), the asset management company owned by Allianz, has expanded its ILS business with two senior hires both based in Bermuda.
Twelve Capital, an investment firm specialising in insurance investments and insurance-linked securities (ILS), has appointed Raffaele Dell'Amore to its Zurich office.
Insurtech company ChainThat is planning to launch a blockchain-powered risk and capital exchange to connect re/insurance companies and brokers to the capital markets.
Essent Guaranty, a private mortgage insurer and subsidiary Bermuda-based Essent Group, has obtained $473.2 million of fully collateralised excess of loss reinsurance coverage on mortgage insurance policies written by Essent in 2018 from Radnor Re 2019-1.
With Insurance Australia Group (IAG) issuing the first catastrophe bond to be domiciled in Singapore under its new insurance-linked securities (ILS) regime, and Hong Kong working towards creating an ILS market, insurance-focused law firm Clyde & Co expects alternative capital to be a significant growth area across Asia.
In a significant step for expansion of insurance-linked securities (ILS) in Asia-Pacific, the first ever catastrophe bond in Singapore has been issued, Orchard ILS Pte.
In a move sure to catch the attention of the Bermuda insurance-linked securities (ILS) market, the world’s first ever catastrophe bond exclusively covering terrorism risk has been issued in the UK.
Specialty re/insurer Brit's total managed ILS capacity has expanded to $440 million for 2019, following the completion of its fifth annual renewal of Bermuda sidecar Versutus 2019 Series.
Hiscox Re & ILS, has increased its total assets under management in its insurance-linked securities platform Kiskadee Investment Managers to $1.5 billion, and launched a new fund to allow investors to access primary insurance lines.