Markel Corporation and CATCo Investment Management Ltd. announced they have entered into an agreement whereby Markel will acquire substantially all of the assets of CATCo, a Bermuda-based specialist in insurance linked securities.* The transaction is subject to customary closing conditions …
The reinsurance market is operating in a new reality of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins, driven by intense competition against shrinking demand for reinsurance cover, according to A.M. Best’s annual special …
The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …
The catastrophe bond market will continue to grow by 10 to 20 percent per year, driven in part by the increase in covered perils and the broadening of event definitions, according to a report published by Standard & Poor’s. But …
Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, according to a special report …
Chris Fischer Hirs, the head of Allianz SE’s specialty insurance business, said he welcomes the growing participation of Wall Street in the insurance industry as an opportunity, not a threat. “Hedge funds bring capacity to the market,” Fischer Hirs said …
Catastrophe bond issuance for the first quarter reached a record $1.7 billion – higher than any other first quarter issuance in the history of the insurance linked securities sector (ILS), according to a report published by Aon Benfield Securities, the …
Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …
Property catastrophe bond issuance for the fourth quarter 2014 stood at USD$2.1 billion across six separate transactions, contributing to a record annual property catastrophe bond issuance of USD$8.0 billion, according to a report published by Aon Benfield Securities, the investment …
Bermuda-based Montpelier Re Holdings Ltd announced the launch of Blue Capital, an asset management platform offering a range of catastrophe reinsurance-linked investment products to institutional and retail investors. Montpelier Re’s President and CEO Chris Harris pointed out that the reinsurer …
