News relating to the Bermuda and international insurance and reinsurance industry.
Bermuda’s share of total alternative capital capacity was $71 billion at the end of 2018, or approximately 73 percent of the global alternative capital market, according to the Bermuda Monetary Authority’s (BMA) 2019 Alternative Capital Report.
Capsicum Re has partnered with Arch Mortgage Insurance (Arch MI) to raise and place the first reinsurance capacity for Bellemeade Re 2020-1, a special purpose reinsurer.
ILS Bermuda’s annual Convergence 2020 event has been confirmed as a virtual event.
A secondary market for ILS can only emerge once the broader market fully embraces electronic platforms, according to Brad Adderley, a partner at Appleby in Bermuda.
Willis Re Securities and Willis Re have structured and placed €100 million of insurance-linked securities (ILS) for Achmea Reinsurance Company, the reinsurance arm of Dutch insurance group Achmea.
The Lloyd's Council has agreed in principle to Nephila Capital’s plan to form a new syndicate.
Twelve Capital has fundamentally reassessed its insurance linked securities (ILS) strategy, reviewing its product offering to focus on cat bonds and peak perils in private ILS.
Lockton Capital Markets (LCM) has appointed Ken Pierce as chief executive officer.
The COVID-19 pandemic has underlined the value of cat bonds, which have offered valuable diversification at a time when other asset classes have become highly correlated.
The impact of the COVID-19 pandemic on the ILS industry is likely to be limited, according to AM Best, given that the underlying risk coverage predominantly relates to property losses related to natural disasters such as hurricanes, flooding and earthquakes.