Reinsurance News
alternative risk transfer
Kevin Poole joins RISCS as Partner
27th October 2022
Captive industry expert, Kevin Poole has joined RISCS, an independent consultancy providing captive and alternative risk transfer (ART) strategic risk advice. In his new role based in the Cayman Islands, Poole will focus on developing RISCS’ captive consulting services in the Americas. Commenting on his appointment, Poole said: “I am excited to ... Read the full article
David Hully joins RISCS as Partner
20th July 2022
RISCS, an independent consultancy providing captive and alternative risk transfer (ART) strategic risk advice, has recruited David Hully as a Partner. With over 24 years of international financial services experience encompassing insurance, management consulting, asset management and investment banking, Hully will be responsible for designing and implementing ART structures to RISCS ... Read the full article
Colin Harper joins Aon alternative risk transfer team
24th June 2022
Aon has appointed Colin Harper as Managing Director, Alternative Risk Transfer and Innovation within its Strategic Solutions and Innovation Practice based in Houston, Texas. Harper joins Aon from Descartes Underwriting, where he spent the previous year as Senior Business Development Manager, North America, also based in Houston. Prior to this, he worked ... Read the full article
Global reinsurance capital hit new high of $675bn in 2021: Aon
29th April 2022
Broker Aon estimates that global reinsurer capital increased by almost 4% through year end 2021 to $675 billion, driven by growth in traditional capital, slightly offset by a decline in alternative capital. The year-end 2021 figure from Aon represents growth of more than 2% from the $660 billion the firm ... Read the full article
Swiss Re secures $1.15bn hybrid bank financing / ILS deal for group-wide losses
14th April 2022
Reinsurance giant Swiss Re has partnered with J.P. Morgan and institutional investors to complete an innovative, first of its kind hybrid transaction which combines bank financing and insurance-linked securities (ILS), securing $1.15 billion in protection for severe underwriting-related losses. For this innovative multi-year stop-loss transaction, J.P. Morgan provides $1 billion in ... Read the full article
Hymans Robertson promotes Iain Pearce to lead Alternative Risk Transfer Solutions
14th January 2022
Hymans Robertson, the pensions and financial services consultancy, has appointed Iain Pearce to Head of Alternative Risk Transfer Solutions. Pearce will lead the firm’s advisory service supporting DB pension scheme trustees and sponsors and market participants considering new and emerging risk transfer options. These include superfunds, capital backed solutions and alternative ... Read the full article
2021 marks a record year for catastrophe bond issuance: Report
6th January 2022
Catastrophe bond and related insurance-linked securities (ILS) issuance reached a huge $14 billion in 2021, representing year-on-year growth of 15%, reports Artemis. The latest quarterly report on the catastrophe bond and related ILS market, which examines issuance in the fourth-quarter and full-year 2021, is now ... Read the full article
Mercer forecasts £60bn of UK pension risk transfer activity in 2022
8th December 2021
Mercer has predicted combined bulk annuities, longevity swaps and new risk transfer solutions to reach £60 billion during 2022. This growth is attributed to a variety of factors, including pent-up demand and better affordability following significant improvements to funding levels of defined benefit (DB) pension schemes in 2021. Innovation in ... Read the full article
NMI Holdings secures additional $364mn of mortgage reinsurance
27th October 2021
National Mortgage Insurance Corporation (NMI Holdings, Inc.) has returned to the capital markets for the seventh time since 2017, securing $364 million of fully-collateralised mortgage reinsurance protection through an Oaktown Re mortgage insurance-linked securities (ILS) transaction. Oaktown Re VII Ltd. is a newly registered Bermuda domiciled special purpose insurer which ... Read the full article
Cat bond & related ILS issuance sets new record in Q2 2021 at $8.5bn: Report
1st July 2021
Catastrophe bond and related insurance-linked securities (ILS) issuance reached a record $8.5 billion in the second quarter of 2021, of which almost $6 billion or more than 70% covered property catastrophe risks, according to the Artemis Q2 2021 market report. The latest Artemis cat bond and ILS market report, ... Read the full article
First-quarter catastrophe bond & ILS issuance robust again at $4.63bn: Report
1st April 2021
Data from Artemis' Q1 2020 catastrophe bond and insurance-linked securities (ILS) market report shows that issuance hit a huge $4.63 billion in the period, making it the second most active first quarter in the market's history. The latest quarterly report on the catastrophe bond and related ILS market, 'Upsizing ... Read the full article
FEMA secures a further $575mn of flood reinsurance for NFIP
26th February 2021
The US Federal Emergency Management Agency (FEMA) has transferred an additional $575 million of the National Flood Insurance Program's (NFIP) flood risk to the capital markets through the sponsor of its fourth catastrophe bond transaction. FloodSmart Re Ltd. (Series 2021-1) is FEMA's fourth and largest catastrophe bond transaction, providing $575 ... Read the full article
Importance of alternative reinsurance capital growing for Swiss Re: ILS NYC 2021
16th February 2021
At Swiss Re, alternative, or third-party reinsurance capital has become an increasing part of the reinsurance giant's capital management strategy, and as the insurance-linked securities (ILS) asset class looks to longer-tail classes, the firm is focused on finding ways to transfer risk efficiently. This is according to Judy Klugman, Global ... Read the full article
Record Q4 drives annual ILS issuance to $16.4bn
19th January 2021
In each quarter of 2020, although most notably in Q1 and Q4, catastrophe bond and ILS issuance remained above average. Combined with the previous three quarters, the record-breaking level of both transactions and issuance in Q4 drove annual issuance to $16.4 billion, which, as shown by the Artemis Deal Directory, is ... Read the full article
Lloyd’s CFO Keese predicts strong interest in market’s ILS platform
14th January 2021
As the specialist Lloyd's of London insurance and reinsurance marketplace continues to evolve and enable additional modern ways of insurance financing, interest in the market sponsored London Bridge Risk PCC is expected to be robust, according to Burkhard Keese, Chief Financial Officer (CFO) at Lloyd's. Earlier today, Lloyd's announced that ... Read the full article
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