News relating to the Bermuda and international insurance and reinsurance industry.
The catastrophe bond market is poised to record its highest ever issuance levels in 2021, with nearly $8 billion of issuance having already been recorded, according to a Moody’s sector report on the insurance-linked securities (ILS) market.
Miller, the independent specialist re/insurance broker, has hired a new head of insurance-linked securities (ILS) as it looks to bolster its capital markets expertise.
ILS Bermuda has confirmed it will go ahead with its Convergence 2021 event on October 6, 2021, as an in-person event.
Twelve Capital has hired Marcel Grandi as senior advisor for insurance-linked securities.
WR Berkley has hired Vincent Myers as vice president of alternative capital.
AM Best has assigned a financial strength rating of A (excellent) to Nectaris Re, an operating subsidiary of Nectaris Holdings, both of which are domiciled in Bermuda. The rating has a stable outlook.
Vantage Risk has sponsored its first 144A index-triggered catastrophe bond transaction, with the deal being upsized by 50 percent following strong investor demand.
Radian Guaranty, the wholly owned subsidiary of Radian Group, has obtained $498 million of fully collateralised excess of loss reinsurance coverage from Eagle Re 2021-1, the newly formed Bermudian special purpose insurer.
Allianz Global Corporate & Specialty (AGCS) has named David Brown as head of its capital solutions unit, its insurance linked securities (ILS) structuring business.
The Chubb Charitable Foundation Bermuda has donated $50,000 to the Bermuda Hospitals Charitable Foundation (BHCF), the fundraising arm of the Bermuda Hospitals Board (BHB), to support its COVID-19 vaccination clinic.