Reinsurance News
Alternative capital
Alternative capital has become a core fixture of the global reinsurance capital stack, as large reinsurance companies partner with third-party investors, or cede risk to managers of third-party capital.
Alternative reinsurance capital has been a key trend over the last two decades, growing to make up approximately 15% of the global reinsurance capital and an even larger proportion of global catastrophe focused reinsurance capital.
Alternative capital is also finding its way into more lines of reinsurance business, including the life and annuity market, as well as casualty and specialty lines.
Read our news about alternative capital in reinsurance below.
Guernsey’s alternative capital sector builds on 2017 performance
29th June 2018
Guernsey has seen a positive start to the year in the insurance-linked securities (ILS) market, building on the solid growth it experienced in 2017, according to Guernsey Finance, the promotional agency for the island’s financial services sector. Statistics for new cells of protected cell companies (PCCs), the main method of writing ... Read the full article
Liberty Mutual in new $278mn Limestone Re collateralised reinsurance deal
29th June 2018
U.S primary insurer Liberty Mutual has secured $278 million of collateralised reinsurance for its U.S property catastrophe program through a new transaction with Limestone Re, a Bermuda domiciled segregated account company. Acting as a sidecar vehicle for Liberty Mutual, Limestone Re issued a series of participating notes to investors in a ... Read the full article
JLT Capital Markets completes placement of $45mn Oak Leaf Re cat bond
28th June 2018
Jardine Lloyd Thompson Capital Markets (JLTCM), an affiliate of reinsurance brokerage firm JLT Re (North America), has completed another private placement catastrophe bond, Oak Leaf Re 2018-1, which closed at $45.26 million. Oak Leaf Re 2018-1, which was sponsored by Southern Oak Insurance Company, is an Ultimate Net Loss (UNL) indemnity-based ... Read the full article
Congress considers bill to expand FEMA’s re/insurance cover
15th June 2018
The U.S Congress is considering enacting a new bill that would require the United States Federal Emergency Management Agency (FEMA) to purchase more insurance, reinsurance, and capital market tools for a broader range of disaster-related costs. FEMA already uses a reinsurance program to cover some of the flood insurance risks held ... Read the full article
Guy Carpenter hires Shiv Kumar as Global Leader of capital markets unit
4th June 2018
Guy Carpenter & Company, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has hired Shiv Kumar as President and Global Leader of GC Securities, Capital Markets. Most recently, Kumar was Global Head of Insurance Structured Finance at Goldman, Sachs & Co., and brings over 23 years’ experience ... Read the full article
Industry must understand the challenge of over-capitalisation: Willis Re’s Vickers
24th May 2018
The reinsurance market performed "OK" during the first-quarter of 2018, but the industry needs to understand both the challenge and permanence of over-capitalisation, according to James Vickers, Chairman of Willis Re International, the reinsurance broking arm of Willis Towers Watson (WTW). "The major challenge for the reinsurance industry is capital," said ... Read the full article
Influx of alternative capital provides fresh opportunities for innovative reinsurers
16th February 2018
The latest A.M Best review of the U.S. property/casualty industry has highlighted how reinsurers are responding to disruptive innovation by shifting strategies to look for opportunities to benefit from, and collaborate with the influx of alternative capital into the market. Part of what has pressured this market so significantly is the ... Read the full article
Jan 1st renewals complex but successful, says Everest Re’s John Doucette
9th February 2018
Bermuda-based reinsurer Everest Re has noted the combination of disruptive forces as the market approached January 1st, 2018, resulting in a complex renewal season for the reinsurance industry, underlined by the continued and growing influence of alternative capital and the market impact of 2017 catastrophe events. Speaking during the reinsurer's recent ... Read the full article
The shifting role of reinsurance: Frank Nutter
8th February 2018
As the cogs of change churn through the reinsurance industry bringing new market entrants, InsurTech, and block-chain technologies which promise to rewrite the standard modus operandi, the Reinsurance Association of America President Frank Nutter discussed the challenges of reinsurance adaptation. He said the challenge facing the industry is whether or not the ... Read the full article
Optimism over bottoming out of reinsurance rates could be “foolhardy”: A.M. Best
2nd February 2018
Some re/insurance industry experts and analysts have been extolling the much awaited possibility of a bottoming out of the re/insurance pricing cycle after record-setting 2017 losses and ensuing uptick in some January 2018 rates, A.M. Best however called long-term optimism "foolhardy" given the abundant levels of reinsurance capacity. The rating agency ... Read the full article
2018 could see a “brutal battle” between alternative & traditional reinsurance: Willis
29th January 2018
Alternative reinsurance capital continues to expand, with non-life insurance-linked securities (ILS) capital reaching $88 billion at year-end 2017. And with growth expected to continue, there could be a "brutal battle" between ILS and traditional capacity, according to Willis Towers Watson Securities. Data from capital markets and insurance-linked securities (ILS) brokerage unit, ... Read the full article
Operating landscape a new reality for reinsurers: A.M. Best
11th January 2017
Global reinsurance companies are faced with a new market reality of lower returns and increased dependency on underwriting for profits, explains ratings agency A.M. Best. The softened reinsurance landscape has persisted for some time now, and reinsurers are finding it increasingly difficult to achieve the kind of returns on their underwriting ... Read the full article
Convergence growth takes overall reinsurance capacity to $420bn: A.M. Best
10th January 2017
International ratings agency A.M. Best has said that total, dedicated reinsurance capacity is estimated to reach $420 billion for 2016, growth of 5% from the previous year, and helped by the continued expansion of the convergence space. According to a recent A.M. Best reinsurance market briefing overall, dedicated reinsurance capacity will likely see growth ... Read the full article
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