Capital market solutions (ILS)

Capital markets in reinsurance's “main tent”

Fri, 17 May 2013 00:00:00 GMT

Willis ILS report says $1.6bn of new cat bond issuance in the first quarter, and “2013 is roaring forward with a flurry of cat bond, sidecar, and collateralised reinsurance activity”, with record issuance expected.

Neill Currie to retire as RenaissanceRe CEO

Wed, 15 May 2013 00:00:00 GMT

Kevin O’Donnell to replace RenaissanceRe co-founder Neill Currie as CEO on July 1. Currie will stay on as an advisor to the Bermudian reinsurnace firm until February.

Vote for the Reactions Global Awards 2013

Wed, 15 May 2013 00:00:00 GMT

Have your say on the the best insurance, reinsurance, broking and service provider firms for the Reactions Global Awards 2013. The winners will be anounced at our awards dinner in New York on September 25.

Sirius launches capital markets initiative

Tue, 14 May 2013 00:00:00 GMT

Sirius hires Goldman Sach’s Michael Halsband for capital markets initiative in insurance-linked securities and reinsurance capital markets convergence.

Towers Watson places $20m Florida cat bond

Mon, 13 May 2013 00:00:00 GMT

Towers Watson Capital Markets closes on Sunshine Re 2013-1, a multi-year $20m catastrophe bond.

New Residential Re cat bond gets S&P rating

Fri, 10 May 2013 00:00:00 GMT

Standard & Poor’s assigns Residential Reinsurance 2013 Series 2013-I Class 3 notes preliminary B-(sf) rating.

Record ILS issuance predicted for 2013

Thu, 09 May 2013 00:00:00 GMT

Catastrophe bonds are experiencing an expanding investor base and competitive capacity, while insurance-linked securities may hit issuance levels of $7bn this year, according to GC Securities.

RMS(one) unveiled as future of cat modelling

Wed, 08 May 2013 00:00:00 GMT

RMS reveals RMS(one), which will allow insurance and reinsurance companies to manage all their risk models, exposures and analytics on a single platform. Partners for the platform include ERN, JBA, Risk Frontiers and Aon Benfield’s ReMetrica.

Aon Benfield Securities appoints two MDs

Thu, 02 May 2013 00:00:00 GMT

Reinsurance broker Aon Benfield’s investment banking division appoints two managing directors from Willis Capital Markets & Advisory and Barclays.

$400m Turkish cat pool ILS deal closed

Tue, 30 Apr 2013 00:00:00 GMT

Bosphorus 1 Re cat bond deal completed, with Munich Re acting lead structurer and GC Securities as bookrunner.

ILS market to grow in 2013 - report

Tue, 23 Apr 2013 00:00:00 GMT

A Clear Path Analysis report looks into how catastrophe bonds can be used outside of peak catastrophe risks as the ILS market sees a boom in popularity.

Allstate’s Sanders Re cat bond gets rating

Sun, 21 Apr 2013 00:00:00 GMT

Standard & Poor’s rates two tranches of notes from Allstate’s upcoming Sanders Re catastrophe bond, which will cover losses from hurricanes and earthquakes.

$500m Tar Heel Re cat bond closes

Thu, 18 Apr 2013 00:00:00 GMT

GC Securities and Munich Re place $500m Tar Heel Re cat bond for The North Carolina Joint Underwriting Association and North Carolina Insurance Underwriting Association.

Aspen Re set ups capital markets unit

Tue, 16 Apr 2013 00:00:00 GMT

Brian Tobben joins from PartnerRe and appointed managing director of Aspen Capital Markets.

ILS rates more aggressive than reinsurance

Fri, 05 Apr 2013 00:00:00 GMT

Q1 ILS Data: All catastrophe bond deals in the first quarter provided indemnity coverage, with $670m-worth of deals closing.

New capital “materially altered” April renewals

Fri, 05 Apr 2013 00:00:00 GMT

“The ILS market is now offering the lowest cost of reinsurance for peak perils witnessed since Hurricane Andrew,” says Aon Benfield. Insurers and reinsurers likely to use ILS and collateralised market to securitise complex commercial property and liability.

Aspirin shift in cancer mortality risk – RMS

Tue, 02 Apr 2013 00:00:00 GMT

Catastrophe modelling firm Risk Management Solutions (RMS) assesses mortality risk liability consequences for pension funds, as medical studies confirm pensioner life expectancy against cancer risk should rise by taking aspirin.

Citizens closes $250m cat bond

Mon, 01 Apr 2013 00:00:00 GMT

New Citizens Property Insurance cat bond covers losses in Florida from hurricanes on a per-occurrence basis for a three-year term.

View From The Top: Validus’ Ed Noonan

Fri, 29 Mar 2013 00:00:00 GMT

Ed Noonan, chairman and CEO of Validus Holdings, on his swashbuckling acquisition activity, emerging markets growth, alternative reinsurance structures, and what lies ahead for the Bermudian firm.

Ex-Eqecat president Keogh joins TigerRisk

Tue, 26 Mar 2013 00:00:00 GMT

Bill Keogh will become a member of the reinsurance broker’s decision support team.

Interview: Keogh feels Eqecat work was done

Tue, 26 Mar 2013 00:00:00 GMT

Bill Keogh has left Eqecat to pursue a career in growing reinsurance broker TigerRisk, saying it "seemed like a logical time to move on".

The broker’s view of the market

Tue, 26 Mar 2013 00:00:00 GMT

Feature: Reinsurers posted bumper profits at the end of 2012, as well as finding firm rates at which to renew a lot of their business at 1/1. Reactions finds out what brokers think about this, as well as the issue of growing retentions as the insurance industry relies less on traditional reinsurance.

PartnerRe sets up Lorenz Re sidecar

Mon, 25 Mar 2013 00:00:00 GMT

Prime Management Limited will manage Lorenz Re, which was capitalised with $75m through the issuance of multiple classes of preference shares.

Euromoney acquires Insider Publishing Limited

Tue, 19 Mar 2013 00:00:00 GMT

Euromoney Institutional Investor PLC, publisher of Reactions, today announced that it is expanding its insurance and reinsurance business with the acquisition of Insider Publishing Limited.

Swiss Re’s coco bond a hard act to follow

Fri, 15 Mar 2013 00:00:00 GMT

European reinsurers will struggle to match the success of Swiss Re’s popular coco bond, a result of Solvency II lagging behind the Swiss solvency test.

Citizens’ Everglades Re cat bond gets S&P rating

Wed, 13 Mar 2013 00:00:00 GMT

Standard & Poor’s assigns Everglades Re Ltd. Series 2013-1 notes B(sf) preliminary rating.

Cat bond investors’ commitment questioned

Thu, 07 Mar 2013 00:00:00 GMT

James Slaughter, senior vice-president of global reinsurance strategy at Liberty Mutual, says of the catastrophe bond market: “I suspect it will remain a small part of reinsurance strategy and nothing more.”

S&P rates Nationwide’s Caelus Re cat bond

Thu, 07 Mar 2013 00:00:00 GMT

Nationwide’s new catastrophe bond will cover a 90% share of losses between the initial attachment point of $1.9bn and the initial exhaustion point of $2.2bn.

“Master stroke” Aon- Berkshire Hathaway deal

Tue, 05 Mar 2013 00:00:00 GMT

The London market is said to be puzzled and annoyed by the two firms deal to provide a ‘first of its kind’ sidecar to retail clients.

ART and Nephila strengthen relationship

Tue, 05 Mar 2013 00:00:00 GMT

Allianz Risk Transfer will assist Nephila in its natural catastrophe and weather risk strategies, providing specialized services, such as balance sheet access, non-recourse leverage and other flexibility for another three years.