For the fourth time, Liberty Mutual has utilized capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. The Boston-based insurer said it has completed a new transaction utilizing the Limestone Re capital markets platform that provides …
Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its Hamilton Capital Partners business unit. Specifically, the deal is with Cerulean …
Following disappointing reinsurance pricing increases in 2018 and early 2019, it seemed that no amount of catastrophe losses would be sufficient to harden the overall market. However, during this year’s April and June renewals, reinsurers saw some green shoots, with …
French reinsurer SCOR said it had agreed to buy 100% of Coriolis Capital, an asset manager specialized ininsurance-linked securities, for an undisclosed amount. Coriolis Capital invests mainly in natural disaster bonds, options, collateralized reinsurance and climate derivatives. SCOR said the …
While there were no signs of generalized rate hardening during the April 1, 2019 renewal season, reinsurers have adopted a “rational” rating approach, asking for price increases of up to 25 percent, mainly targeted towards loss-affected contracts and programs, according …
SCOR Investment Partners announced the promotion of Sidney Rostan as head of Insurance-Linked Securities (ILS), effective April 1, 2019. Sidney Rostan replaces Vincent Prabis, who is leaving the company to take a different career path. Rostan, 47, will be in …
A blockchain-driven risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat. The exchange will allow broker, reinsurance and insurance companies access to the capital markets using blockchain. …
Growth of the insurance linked securities (ILS) market reached $93 billion in 2018, up from $88 billion during the prior year, according to the new ILS Market Update from Willis Re, the reinsurance division of Willis Towers Watson. In the …
PIMCO, the Newport Beach, Calif.-based fixed income investment manager, has hired Rick Pagnani from Mt. Logan Re as executive vice president, to lead the launch of the firm’s property and casualty insurance linked securities (ILS) business. The ILS market, which …
Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018 are slightly less than half of those …
