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Chris Parry said the denominator effect remains a suppressant on ILS inflows after a strong phase of returns.
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The carrier is designing an investable portfolio of long-tail risk.
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The sidecars segment has been attracting inflows after returns hit a high note in 2023.
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A new pooling structure allowed the firm to free up historic side pockets and provides a template for future exit options.
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Nephila Syndicate CEO Adam Beatty said that the firm hopes to grow its new specialty syndicate to $500mn of premium within the next few years.
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The philosophy of the Pioneer Cat Bond Fund is to avoid poor performers, not pick winners.
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The former Aspen Capital Markets COO hopes to set up fronting partnerships for reinsurers wanting to build out in ILS.
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Beazley’s $45mn first-time cyber cat bond offered all-perils coverage, though some expected early deals to start with limited scope.
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The insurer secured 22 investors with its first public cat bond offering, having previously done a private deal.
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The incoming president for insurance also highlighted the role Nephila could play in the transition to net zero.
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Fidelis chairman Richard Brindle said a shift towards named cat perils and away from complex structures is underway, but that carriers need more unity between inwards and outwards teams to navigate the harder market.
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Allianz Global Corporate & Specialty (AGCS) is adding five new roles dedicated to ILS alongside an expansion of the ART team.
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The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.
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The Category 1 storm’s landfall on the east coast of Florida would be a “manageable” cat event that hurts primary carriers more than their reinsurers, he said.
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Transparency and alignment of interests are the keys to expanding casualty ILS.
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The Gulf Coast state is keen to distance itself from Florida’s insurance woes but is resistant to some underlying changes.
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The HSCM co-founder said the cat reinsurance market was going through a profound shift that would open ILS opportunities for growth.
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ILS risk-sharing should stick to peak risks, the reinsurer argued.
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If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago.
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Rate increases are now universal in the property cat markets, the Gallagher Re executive said.
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The commercial insurance CEO said that the industry should act now before the cat market reached a point of implosion.
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Beazley’s own in-house ESG goals were put under as much scrutiny by its third-party capital providers as its underwriting strategies when the insurer launched ESG-focused Syndicate 4321 at the start of this year.
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The Dutch pension adviser hopes to scale the vehicle to $2bn-$2.5bn over time, as it reported a slightly negative ILS return for 2021 and revealed Integral ILS allocation.
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The firm will look to grow its offerings on climate change and natural catastrophe risk.
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Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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Nephila will maintain a minority holding in the MGA, which is looking for paper from more reinsurers and ILS firms.
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After Slide completed a $100mn fundraise, the CEO laid out the InsurTech’s plans to launch in five states at the start of 2022 in an interview with Inside P&C.
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After raising around $150mn to open its Nanorock fund, Ledger Investing believes casualty business is set to capture more investor interest.
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“It's at the five- and 20-year return periods where insurers have to start looking and be worried about making sure these models capture these events,” Clark told this publication in an interview.
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The broker must ensure it is “leaving no stone unturned” in its search for capital, according to president and CEO of North America Pete Chandler.
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Willis Re international chairman James Vickers said that the ILS market played a strong role in the Florida renewals, but it was becoming more difficult to judge the overall impact of the sector as more capacity stays behind rated balance sheets.
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Cat bonds are an efficient and well-targeted answer for insuring charitable spending, according to Adam Bornstein, leader of the team at the Danish Red Cross, which oversaw the issuance of its debut cat bond covering volcanic eruptions.
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The aspiring carrier is already providing risk-transfer deals for carbon offset buyers but plans for its initial underwriting to be focussed in more traditional areas.
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Making it easier for brokers to use facility capacity is key to uptake, says the facility’s CEO, Dan Prince.
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The latest generation of ILS-backed rated fronting platforms is looking more “ILS-y” due to their ownership structures.
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The vehicle will launch with $200mn of equity contributed by all the manager's ILS funds.
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The head of Beazley's Smart Tracker discusses a variety of new smart-beta investment pitches and argues that broker M&A will drive more facilitisation of risk transfer.
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The $850mn assets advised by the firm are already largely deployed.
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The start-up changes its business model to selling data structuring and analytics services.
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The CEO said the French reinsurer will avoid court cases where possible in pandemic coverage disputes.
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Affirmative cyber risks could be the next systemic risk the ILS market takes on, the executive suggests.
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The carrier will largely avoid ILS and focus on differentiating through ESG.
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The InsurTech announced a partnership with Lockton Re earlier this month, and completed a fundraise in the fall.
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New boss Flandro suggested subordinated debt as a reinsurance alternative in a hardening market.
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The ILS manager sees Florida primary and retro business producing more return than reinsurance.
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The carrier would consider a variety of tactics to manage third-party capital, the CEO said.
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Investors are still regaining trust after recent major loss years, the consultancy firm said.
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The exec was speaking after the broker was acquired by Cinven and GIC in a multi-hundred million deal.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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The president and CEO urges wordings precision to avoid cyber-related litigation.
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Alternative capital reduced by around $3bn in H1 2020 due to trapping.
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The company’s premium base is closing in on market leader State National.
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Regulators have remained responsive despite the Covid-19 pandemic, according to the Obsidian CEO.
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She will leave Schroders at the end of the month after spending more than seven years at the company.
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The Florida Senator says tackling legal fees is a priority as demand for reform grows – but it will take time to implement.
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The incoming chairman said he did not want to get "distracted" by expanding into a broader reinsurance or London platform right now.
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Aon's estimate shows that bulk sums offered rose from the $250mn previously reported.
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Using Kroll to rate Prospero Re allowed the firm to add customised ILS features to the rated structure, by having its fund investors own the platform.
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Managing director Philipp Graf said the new arrangement with Allen Partners would bring the full suite of Twelve’s products to institutional investors in Australia and New Zealand.
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Richard Brindle also said the cat market is highly sensitive to an additional event, with widespread dislocation possible.
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Retro is just the start for Markel’s new ILS platform, the firm’s reinsurance CUO said.
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Sean Bourgeois, founder and CEO of Tremor, expects the risk market to follow a path similar to that taken by the advertising industry.
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The Prudential Regulation Authority is committed to ensuring the UK offers an ILS regime which allows the market to develop, says Gareth Truran, head of London market supervision
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Emmanuel Modu, global head of ILS at AM Best, says Bermuda insurers and ILS managers are increasingly showing interest in rated vehicles.
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Simon Kirby, UK City Minister, believes that London could provide a 'gold standard' for ILS transactions
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The head of life investments at Leadenhall Capital Partners, Dan Knipe, tells us why banking and regulatory changes are creating life ILS opportunities
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Richard Lowther, chief operating officer at Hiscox Re Insurance Linked Strategies, says hybrid reinsurer ILS managers are upping their game, but some can do more to appeal to investors
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Horseshoe Group founder Andre Perez tells Trading Risk why he'd like to see the ILS market lever up
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Rewire Securities co-founder Richard Pennay says that expanding cat bond coverage to more closely match reinsurance will help it compete
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Aon Benfield Global ReSpecialty CEO Bob Bisset says retro products can flex further still...
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Zurich Insurance Group's global head of reinsurance Paul Horgan tells Trading Risk that he wants to see more breadth from ILS markets
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Bruce Lucas, CEO of Heritage P&C, tells Trading Risk that the Florida (re)insurance market has reached a healthy equilibrium
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James Dick, head of alternative investments at QIC, one of Australia's largest institutional asset managers, tells Trading Risk that there could be gains to be made from falling yields
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Twelve Capital partner John Butler tells Trading Risk why he thinks reinsurance needs to get closer to the finance world
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Erik Manning, managing director of alternative solutions at Markel, explains why he thinks a defensive response to alternative capital could pay off better for reinsurers than aggression
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Jennifer Montero, chief financial officer at Citizens Property Insurance, worked on the placement of the largest-ever cat bond this year, the $1.5bn Everglades Re 2014 issuance. She tells Trading Risk why she believes in treating all counterparties equally
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Marc Lauricella, broker at TigerRisk Partners, specialises in the Florida market. He tells Trading Risk how Florida cedants are forcing carriers to become more bespoke.
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Chin Liu tells Trading Risk that he worries ILS returns may be tracking fixed income classes as institutional investors take a greater direct role in the market
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The head of non-life business at London-based ILS fund manager Securis Investment Partners, Neil Strong, tells Trading Risk that ILS managers need to remain nimble enough to remain selective about their risk.
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This month Trading Risk talks to Swiss Re's head of non-life risk transfer, Martin Bisping
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Allianz's head of group reinsurance solutions Insa Adena tells Trading Risk why she wants innovation on the ILS market to continue
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Financial services firm TIAA-CREF has returned to the ILS market. The fund's director of global public markets Aashh Parekh tells Trading Risk why he'd like to see a larger and more diverse ILS market
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Validus is a clear example of how the reinsurance industry is evolving. Paschal Brooks, portfolio manager at AlphaCat, tells Trading Risk why we're about to start having problems defining who's who in this market
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Swedish pension fund AP3 was an early mover in the ILS market. The fund's head of ILS Dan Bergman tells Trading Risk why its capital can be counted on to stay the course
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Arch Capital's Larry Richardson is one of a number of convergence market executives snapped up by traditional reinsurers over the course of 2012. He tells Trading Risk how competition is reshaping the cat management space...
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Earlier this year Travelers completed its third cat bond - and its first on an indemnity basis. Scott Belden tells Trading Risk that he is impressed by the ILS market's maturity, but that traditional partnerships are still at the heart of his reinsurance strategy
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The man charged with revamping Juniperus Capital tells Trading Risk how reinsurers could learn from ILS funds
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The start-up team explain how they are aiming to distinguish their model and where they think the ILS market should be diversifying
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Chi Hum tells Trading Risk why a growing stability in the ILS investor base is allowing structurers to start experimenting.
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If retro underwriters could name their top three headaches of 2011, Trading Risk is willing to bet the list would include unmodelled losses, 'cold spot' zones and aggregate covers. Broker Simon Cloney sells products that roll up all three, yet has emerged unscathed from the January renewals to tell Trading Risk the tale...
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Mark Gibson from BNP Paribas is a rare breed among the banker/brokers Trading Risk deals with - more inscrutable Zen master than bouncy wheeler dealer. He tells Trading Risk how he's learnt not to try to predict the future for the ILS market and why it needs more diversity...
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Trevor Bolt constructs the retrocession programme that has protected Hannover Re from the brunt of disaster losses this year. He tells Trading Risk why he believes the ILS market is constraining its own growth.
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Clariden Leu ILS manager Michael Stahel tells Trading Risk why the alternative market is set to gain a competitive edge against traditional reinsurers - helped along by innovation from asset managers.
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BMS broker Stefano Nicolini tells Trading Risk how ILWs - derivative instruments triggered by levels of insured industry losses from a catastrophe event - can steer reinsurers through many tight spots, from post-merger headaches to over-indulgence on catastrophe risk...
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Milliman actuary Steve Schreiber has been at the spearhead of many life insurance innovations. He shares his view of the resurgent life securitisation markets and expansion possibilities for longevity with Trading Risk...
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Elementum Capital's founding principal John DeCaro calls for more reinsurance discipline in cat bond marketing, and shares his morning routine...
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