News relating to the Bermuda and international insurance and reinsurance industry.
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Peak Re hires Andrew Souter as director of markets
Peak Re has appointed Andrew Souter as director of markets, responsible for developing its property and casualty reinsurance business.
BMA cancels registration for Phoenix CRetro, company eyes move to Asia
The Bermuda Monetary Authority (BMA) has cancelled the insurance registration of Phoenix CRetro Reinsurance Company, a special purpose insurer (SPI), for breaches of the Insurance Act 1978 (Insurance Act).
ILS Bermuda announces keynote speakers for Bermuda Convergence
Marshall Shepherd, Parag Khanna, and Shalini Vajjhala will be the keynote speakers at Bermuda Convergence 2020, which runs from October 6-8.
Arch MI issues its second mortgage ILN of 2020
Arch Mortgage Insurance Company (Arch MI), a subsidiary of Arch Capital, has obtained over $449 million of indemnity reinsurance on a pool representing approximately $32 billion of mortgages from Bellemeade Re 2020-2, a special purpose reinsurer.
Severe losses creating retro market dislocations: AM Best
The retrocession (retro) segment has been particularly badly affected by severe losses from catastrophe events in recent years, and the resulting trapped capital, according to a new report by AM Best.
ILS Capital Management completes the first ever securitisation of trapped capital
ILS Capital Management has completed a $57 million offering of 5.50 percent asset-backed notes, a securitisation of the residual value of trust accounts supporting reinsurance contracts, or trapped capital.
Aeolus Capital Management names Nicholas Jagoda as partner and portfolio manager
Nicholas Jagoda will join Aeolus Capital Management as a partner and portfolio manager once he has fulfilled his obligations with Elementum Advisors where he is currently a partner and portfolio manager.
ILS new issuance spreads widen by up to 30% due to COVID-19: Swiss Re
New issuance spread in the insurance linked securities (ILS) market widened by 20-30 percent due to the impact of the COVID-19 pandemic, according to the latest report on the ILS market by Swiss Re.
Elementum Advisors cultivates the next generation of leaders with a series of senior appointments
Elementum Advisors, the Chicago and Bermuda-based alternative investment manager specialising in collateralised natural event reinsurance, has hired Jeff Davis as senior vice president of investments.
Cat bond issuance already 20% higher than in 2019: Aon
Cat bond issuance was 20 percent higher in the first half of 2020 than in the whole of 2019, according to Aon Securities’ latest Insurance-Linked Securities (ILS) report.
