Lloyd’s announced it has received regulatory approval to set up a second protected cell company (PCC), which aims to enhance market accessibility for investors – a key deliverable of the Future at Lloyd’s project. Lloyd’s previously announced a number of …
Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities in an attractive reinsurance market.” Developed in partnership with …
Inigo Ltd., the new Lloyd’s insurer, has entered the catastrophe bond market for the first time, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re, launched on April 1, is a …
With institutional investors providing the bulk of the capital, RenaissanceRe Holdings has announced the creation of a new joint venture dedicated to casualty and specialty risks. Launched with $475 million of capital, the venture—Fontana Holdings L.P.—targets institutional investors, who contributed …
MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s global specialty re/insurer, announced its Singapore-based operation has launched its second local special purpose reinsurance vehicle (SPRV). Called Phoenix 2 Re Pte. Ltd., this SPRV will provide a quota share to MS …
Nephila, the Bermuda-based insurance-linked securities manager, has funded its newly launched Syndicate 2358, with capital provided through London Bridge Risk PCC (LBR PCC), a Lloyd’s-sponsored protected cell company. The new transaction provides reinsurance capital from a diverse group of investors, …
Markel Corp. announced it is winding down Lodgepine Capital Management Ltd., its retrocessional insurance linked securities (ILS) fund manager, based in Bermuda. Markel launched Lodgepine in 2019, with product offerings focused on property catastrophe retrocessional investments. In 2021, Lodgepine wrote …
Investors in insurance-linked securities are leaning toward structured catastrophe bonds rather than broader ILS instruments to steer away from unexpected losses from secondary perils. At the same time, catastrophe bond investors are accepting lower yields than they did two years …
Markel Corp. and Markel CATCo Investment Management Ltd. (MCIM) announced the terms of a buy-out transaction that provides an accelerated return of substantially all the net asset value in Markel CATCo Reinsurance Fund Ltd. (the Private Fund) and CATCo Reinsurance …
Catastrophe bonds broke a record during the first half of the year with about $8.5 billion of new securities issued, according to a report from Swiss Re AG. The insurance-linked securities market could end up with more than $10 billion …
