Specialist global insurer Hiscox announced that Michael Krefta has been appointed CEO of Hiscox Re and ILS, and CEO of Hiscox Bermuda, effective Aug. 1, 2017. He will succeed Jeremy Pinchin who, after five years in Bermuda, will return to …
North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the 2016 Bermuda Reinsurance Conference co-hosted by …
Mitsui & Co., Japan’s second-biggest trading house, agreed to purchase a 15 percent stake in New Ocean Capital, the asset manager that was founded by XL Group Ltd. and Stone Point Capital to make insurance-related bets. Mitsui also committed $100 …
Insurer Hiscox said it is building a collateralized reinsurance insurance linked securities (ILS) capability for launch on January 1, 2017, in addition to expanding its fully-fronted ILS fund structures. The expanded ILS team is being rebranded as Hiscox Re Insurance …
A powerful earthquake in Italy on Wednesday is unlikely to force UnipolSai’s 200 million euro ($226 mln) catastrophe bond into default as the bond has low exposure to the affected region, the Italian insurer said. The earthquake devastated a string …
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
It was a case of adapt and thrive when modeling and analytics company Sciemus made a big strategic leap this year into underwriting space, power, mining, renewable energy and cyber—as a managing general agent. Despite the ongoing soft market, CEO …
Total non-life catastrophe bond market issuance for the first half of 2016 rose to $2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory (WCMA), the investment banking business of Willis Towers Watson. After starting …
Swiss Re Capital Markets said it has structured and placed $100 million of insurance-linked securities (ILS) that cover named storms and earthquakes affecting certain coastal states of the U.S. The bonds have been issued by Laetere Re Ltd. on behalf …
The June/July 2016 renewal season has seen a continuation in market softening, though the magnitude of rate reductions is slowing, according to the latest 1st View Renewals report from Willis Re, the reinsurance business of Willis Towers Watson. Capacity withdrawals …
