Reinsurance News
insurance-linked securities
Insurance-linked securities (ILS) are a specialist asset class where capital market investors allocate to instruments exposed to insurance and reinsurance risks.
Read our insurance-linked securities news and analysis below.
Arch MI obtains $639mn of indemnity reinsurance via Bellemeade Re
29th September 2021
Arch Mortgage Insurance Company (Arch MI) has secured over $639 million of indemnity reinsurance on a pool representing approximately $28.7 billion of mortgages from Bellemeade Re 2021-3 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $508 million in bonds and $131 million in direct reinsurance, and covers ... Read the full article
Insurance Partners Europe recruits ILS specialist from SCOR
9th September 2021
Risk advisory firm Insurance Partners Europe (IPE) has recruited insurance-linked securities (ILS) specialist Pierre Mouilhade in an effort to expand its services for the alternative capital sector. Mouilhade, who is a former ILS portfolio manager at SCOR Investment Partners, will help IPE to assist investors in accessing returns from the reinsurance ... Read the full article
Genworth secures $372mn of reinsurance via Triangle Re
3rd September 2021
Private mortgage insurer Enact Holdings has announced that its subsidiary, Genworth Mortgage Insurance Corporation, has secured $372 million of fully collateralized XOL reinsurance coverage through the issuance of an insurance linked note transaction with Triangle Re 2021-3 Ltd. Triangle Re 2021-3 provides coverage on a portfolio of existing seasoned mortgage insurance ... Read the full article
APAC reinsurers to continue targeting ILS: Fitch
20th August 2021
Analysts at Fitch Ratings expect that reinsurers in the Asia Pacific market will continue to adopt alternative capital as a funding source through the insurance-linked securities (ILS) market. The rating agency forecasts additional issuance of catastrophe bonds in the coming months after the seven that were issued using Singapore-domiciled vehicles up ... Read the full article
Cat bond growth propelled by strong investor demand: Moody’s
17th June 2021
Moody’s has reported that the catastrophe bond market saw record issuance in 2020 despite a brief pause in Q2 following a particularly tumultuous period for the financial markets. And looking ahead through 2021, the rating agency expects cat bond issuance to continue to grow with strong investor demand for the ... Read the full article
SCOR solidifies ILS position with Coriolis integration
28th April 2021
SCOR Investment Partners, the SCOR group’s portfolio management company, has completed its integration of London-based ILS fund manager Coriolis Capital Limited. The French reinsurer closed its acquisition of Coriolis in September 2019, after first announcing the transaction in May 2019. However, SCOR has only now completed the integration of Coriolis’s operations ... Read the full article
Danish Red Cross launches first volcano cat bond
22nd March 2021
Partners from across the private and humanitarian have launched the world’s first catastrophe bond for volcano-related disasters on behalf of the Danish Red Cross. The cat bond covers 10 volcanoes across three continents, aiming to raise up to $3 million from investors for aid in the aftermath of an eruption. Initial investors ... Read the full article
Build America Mutual gets $150m of reinsurance with second Fidus Re ILS deal
23rd February 2021
Specialist financial guarantee insurer Build America Mutual (BAM) has secured $150 million of fully collateralized reinsurance via a second issuance through its Bermuda special purpose insurer (SPI), Fidus Re. Fidus Re was set up to issue and sell notes to investors, and was previously used by BAM to obtain $100 million ... Read the full article
ERS launches ILS offering, expands senior team
3rd February 2021
Specialist motor insurer ERS has announced the launch of an integrated insurance-linked securities (ILS) offering, while also continuing the build out of its commercial insurance and reinsurance team with a series of senior hires. The firm’s ILS approach will include an open-ended mandate with a remit to invest across both public, ... Read the full article
Gildenbrook launches ILS fund management
29th January 2021
The Gildenbrook Group has launched an independent alternative fund manager, Gildenbrook Capital Management, which is focused on the insurance-linked securities (ILS) asset class. Gildenbrook Capital Management will offer its services to investors who are looking to access alternative risk premia sourced from the global life and non-life insurance and reinsurance market. The ... Read the full article
Third-party capital & ILS assets rise in 2020 as market shows signs of recovery
14th January 2021
Third-party reinsurance and insurance-linked securities (ILS) assets under management (AuM) of the top-ten ILS fund and third-party reinsurance capital managers increased to more than $61 billion through H2 2020, led by Nephila Capital, LGT ILS Partners, Fermat Capital Management, and Leadenhall Capital Partners. Data featured in the Artemis Insurance ... Read the full article
MS Amlin launches Singapore SPRV Phoenix 1 Re
5th January 2021
MS Amlin Asia Pacific Pte. Ltd, the Singapore-based operation of Lloyd's re/insurer MS Amlin Underwriting Limited, has launched Phoenix 1 Re Pte. Ltd., a landmark special purpose reinsurance vehicle (SPRV) in Singapore. Phoenix 1 Re is the first locally issued insurance-linked securities (ILS) structure designed to provide capacity to a local ... Read the full article
Pure property catastrophe bonds push market to record high in 2020: Report
4th January 2021
More than $11 billion of pure property catastrophe bond issuance, alongside another active year for mortgage insurance-linked securities (ILS) deals, helped the catastrophe bond and related ILS marketplace break records in 2020, according to Artemis. The recently published Q4 2020 catastrophe bond and ILS market report from our sister ... Read the full article
AM Best expects “more measured” use of alternative capital
14th December 2020
Analysts at AM Best are confident that third-party capital will continue to play an important role in the re/insurance industry, but they anticipate that the use of alternative capital structures will be “more measured” in future. As part of its Global Reinsurance Market Outlook, the rating agency noted that the catastrophic ... Read the full article
Swiss Re targets nat cat portfolio growth with ILS fund launch
30th November 2020
Reinsurance giant Swiss Re is looking to expand its risk-sharing platform and strengthen its strategic partnership with third-party capital providers with the launch of a new standalone fund company, which enables investors to access the firm's natural catastrophe business. Swiss Re Insurance-Linked Investment Management Ltd (SRILIM), a subsidiary of Swiss Re, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
