News relating to the Bermuda and international insurance and reinsurance industry.
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.
Kathleen Faries has been appointed as the new chief executive officer (CEO) of Horseshoe, the insurance linked securities specialist and fund administrator.
Arch Mortgage Insurance Company (Arch MI) has secured over $643 million of indemnity reinsurance on a pool representing approximately $38 billion of mortgages from Bellemeade Re 2021-1, a special purpose reinsurer.
Peak Reinsurance, the Hong Kong-based global reinsurer and ILS specialist, has appointed Iain Reynolds and Andy Souter as co-heads of property and casualty (P&C).
The insurance-linked securities (ILS) and traditional reinsurance markets overcame “extraordinary losses in 2020” in the January 2021 renewals, with capital now back to pre-pandemic levels of $485 billion, according to AM Best.
Guernsey has unveiled the first humanitarian catastrophe bond.
Hamilton Insurance Group has elected to issue its first catastrophe bond in Singapore.
Integral ILS, the independent Insurance-Linked Securities (ILS) fund manager, has launched a new US property insurance initiative, with risks underwritten by Amwins and policies issued through subsidiaries of Core Specialty Insurance Holdings.