Capital markets gain increasing reinsurance influence: Aon

The capital markets are becoming increasingly influential in reinsurance, according to broker Aon Benfield, who recognises that the growth achieved by insurance-linked securities (ILS) specialists […]

ILS as an asset class to offset financial market volatility: Aberdeen’s Brooks

Mike Brooks, head of diversified multi-asset strategies at major investment manager Aberdeen Asset Management, has underlined the attractiveness of investing in the insurance-linked securities (ILS) […]

ILS listings on the BSX reach new high at $28 billion

The Bermuda Stock Exchange (BSX) continues to grow its amount of catastrophe bond and insurance-linked securities (ILS) listings, with a further 44 securities with a […]

Blockchain a potential game-changer, more ILS use-cases to emerge

Blockchain is a potential game-changer for the insurance and reinsurance sector, according to Fitch Ratings, who forecast that the technology will become increasingly embedded in […]

Bermuda offers managers stability and a blue-chip reputation

Although the Cayman Islands tends to be the default option for most alternative fund managers, there is a good argument for saying that Bermuda is […]

News review | Monday 09 2018

First quarter catastrophe bond issuance saw $3.1 billion in new capital come to market. $1.3 billion of this was for transactions covering Latin America and […]

Jones & Daley Awarded Scholarships By ILS

ILS [Bermuda] today announced Bermuda College students Bathsheba Jones and Khaleel Daley as the recipients of ILS Bermuda Scholarships enabling them to enrol in the […]

2018 a good time to enter ILS, or increase allocations: Mercer’s Howie

Insurance-linked securities (ILS) remain an attractive and diversifying asset class, and with returns now expected to be higher following 2017 catastrophe events and the subsequent […]

Re/insurers face challenges as they spend their way into the future

Insurance and reinsurance companies face a conundrum. Driven by their need to modernise, innovate, digitalise and generally shift towards technology driven risk transfer business models, […]

Another five charts

‘Five charts‘ and ‘five more charts‘ were two of the most read articles on InsuranceLinked so in the spirit of democracy and imaginative titles, here […]

ILS offered “more competitive terms” than traditional reinsurance: Generali

Insurance giant Generali Group said in its annual report that while it has historically preferred protection from traditional reinsurance sources, in some cases it has […]

Essent nears $360m Radnor Re 2018-1 mortgage ILS issuance

According to Artemis’ sources, mortgage insurance firm Essent Guaranty is nearing completion of a first mortgage insurance-linked securities (ILS) transaction, as it seeks capital markets […]

Resilience of ILS & cat bond market evident in 2017: SIFMA

The insurance-linked securities (ILS) and catastrophe bond market, as well as wider alternative reinsurance capital structures, proved themselves resilient in 2017 positioning them for further […]

FEMA planning mid-year NFIP reinsurance placement, exploring ILS options

The U.S. Federal Emergency Management Agency (FEMA) is planning for a potential mid-year 2018 reinsurance placement for the National Flood Insurance Program (NFIP) and is […]

ILS an important, enabling part of our business: Blerina Essen, myLotto24

Following the successful completion of its latest, more flexible insurance-linked securities (ILS) transaction, myLotto24 Limited’s Managing Director, Blerina Essen, discussed with Artemis the company’s participation […]

SPI’s and ILS drive 2017 re/insurance registrations in Bermuda

Special purpose insurance (SPI) vehicle registrations in Bermuda rose by 41% year-on-year in 2017, as insurance-linked securities (ILS) related activity drove the number of insurance […]

Bermuda greenlights 24 SPI licenses in 2017

The Bermuda Business Development Agency (BDA) has revealed that 24 new licenses for special purpose insurers (SPI) were approved in 2017 – seven more than […]

ILW’s can pave way as repeatable structures to fuel ILS growth: PCS

The use of an industry loss warranty (ILW) structure in inherently complex and rapidly advancing risks, such as cyber and terror, could support the repeatability […]

ILS growth to persist as investors show optimism: Dubinsky, WTWS

Insurance-linked securities (ILS) investors responded to 2017 catastrophe events with growth and optimism and further expansion is expected throughout 2018, with InsurTech offering some potential, […]

Bermuda regulator seeks expanded ILS disclosures

The Bermuda Monetary Authority (BMA) has asked local alternative reinsurance operators to disclose a detailed schedule of contracts written and losses incurred, including within loss-struck […]

ILW’s to ease entry of ILS into cyber risk: Tom Johansmeyer, PCS

In an interview with A.M. BestTV at Artemis’ second ILS conference in New York City, PCS Assistant Vice President (AVP), Tom Johansmeyer, discussed the potential for […]

Disaster risk transfer is critical to protect development gains: World Bank

The World Bank sees the ability of its Treasury to mobilise fixed income capital to fund sustainability as a key piece of its mandate, with […]

Investors response to Q3 cats shows ILS can be relied upon: Klugman, Swiss Re

The insurance-linked securities (ILS) investor base remained calm and orderly during the extremely active 2017 Atlantic hurricane season, and in fact, as hurricane Irma moved […]

Credit Suisse, Catco push top 10 ILS managers to $64bn

Assets under management (AuM) controlled by the top 10 ILS firms reached $64bn at the start of 2018, as Markel said that Markel Catco’s asset […]

World Bank hails investor appetite for “historic” $1.36bn cat bond

The World Bank has hailed the “very strong demand” for its recently completed issuance of $1.36 billion of parametric earthquake catastrophe bonds, to the benefit […]

ILS fund-raising & growth a factor at renewals: Hannover Re

The growth of ILS markets at January 1st 2018 was a factor that meant rate momentum decelerated, as they offered more capacity than a year […]

ILS market value demonstrated, positioned well for future: ILS NYC 2018 speakers

The impressive reaction of the insurance-linked securities (ILS) market to 2017 catastrophe events shouldn’t be a surprise and the marketplace has an opportunity to do […]

ILS “very much engrained” in global risk transfer: Priebe, Guy Carpenter

The expanding base of insurance-linked securities (ILS) capacity is likely to remain an integral part of re/insurers’ capital structure, and even after the devastating impacts […]

ILS momentum to continue in 2018 as demand persists: Aon Securities

Global catastrophe bond issuance broke records in 2017 and despite the impacts of catastrophe loss events, insurance-linked securities (ILS) market momentum is expected to persist […]

ILS allocations could increase further in 2018: JLT Re

Investor allocations to the ILS sector could increase in 2018 after capacity was quickly replenished following last year’s losses, JLT Re said today in its […]

PGGM ILS portfolio grows to $4.6bn, despite 2017 catastrophes

The insurance and reinsurance-linked investment portfolio of Dutch pension fund manager PGGM grew in 2017, as the asset manager continued to increase allocations to the […]

ILS market issuance & innovation to continue in 2018: Appleby

There is an expectation that the insurance-linked securities (ILS) market will continue to see a brisk pace of issuance, with the volumes of transactions coming […]

Desire to access new capital suggests ILS role in run-off market: PwC

The expected growth of the global run-off market and the apparent willingness of buyers to access new forms of capital suggests the insurance-linked securities (ILS) […]

ILS returns written up as losses subside

ILS managers have reduced their estimates of losses taken during the August and September hurricanes, according to figures on the Eurekahedge ILS Advisers Index. The […]

Top ILS managers shrug off losses to post 10% AuM growth

The market’s leading ILS managers grew their assets under management (AuM) by almost 10 percent in the second half of 2017, highlighting the ease of […]

2018 set to be a record year, as ILS replaces lost capital: John Seo, Fermat

2018 is set to be a record year for catastrophe bonds and insurance-linked securities (ILS), according to John Seo of Fermat Capital Management, as the […]

Aon Benfield: ILS has come of age

A rush of new capital into the reinsurance sector after the third worst catastrophe loss year in history could have “long-term consequences for the structure […]

BSX ILS listings break records in 2017, reaching $26 billion

Continuing the trend of 2016 and the first-half of 2017, the total amount of catastrophe bond and insurance-linked securities (ILS) listings on the Bermuda Stock […]

Alternative capital will maintain influence on pricing: Fitch

Alternative capital, insurance-linked securities (ILS) and collateralized reinsurance will maintain its influence on global reinsurance pricing, as a “key driver of the magnitude of future […]

Hurricanes could signal beginning of a new chapter for ILS: Milliman

In the future, the industry might well look back at hurricanes Harvey, Irma, and Maria as the start of a new chapter for the alternative […]

Third-party capital willing to reload, new capital ready to enter: Morgan Stanley

Third-party capital providers are ready and willing to reload following recent major catastrophe losses, while at the same time new capital is exploring post-event opportunities […]

ILS market hasn’t replaced all trapped capital: Perez at ILS Bermuda’s Beyond Convergence Event

The ILS market has not yet fully replaced the capital lost or trapped as a result of this year’s hurricane events, Horseshoe Group CEO Andre […]

ILS an influential factor when it comes to 2018 reinsurance rates: Fitch

Alternative capital and the insurance-linked securities (ILS) market is going to be an influential factor when it comes to determining just how much reinsurance and […]

“Informed” ILS investors willing to increase commitments: Noonan, Validus

Insurance-linked securities (ILS) investors are “informed” and their lack of naivety suggests an expectation of higher rates in 2018, and many investors in the space […]

Fact vs fiction: BDA and industry respond to ICIJ reports

Hamilton, Bermuda, November 10, 2017—Reportage about hacked data from global law firm Appleby has highlighted the substantial lack of media understanding of offshore investment structures […]

Investor interest in ILS is higher now than ever before: John Seo

Contrary to the long-held belief (in some circles) that ILS investors would flee from the market following any major catastrophe losses, the response so far […]

January reinsurance renewals set to be extremely competitive

Reinsurance firms and ILS funds looking to make the most of any increase in rates at the forthcoming January renewal season are likely to make […]

$9 billion of collateralised retro estimated blown or trapped

Of the $29 billion of total retrocessional reinsurance capacity tracked by broker Aon, an estimated $9 billion, or 31% is collateralised and either completely blown […]

“Capital elasticity” – the softener of the reinsurance cycle

The entry of the capital markets and their growth into the reinsurance industry has increased the sectors “capital elasticity” resulting in a softening of the […]

No signs of alternative capital exodus after losses: JLT Re

Following hurricanes Harvey, Irma and Maria the reinsurance and ILS market is expecting to suffer its largest losses in years, for ILS it is without […]

ILS Bermuda Announces Fifth Anniversary of Successful Bermuda Convergence 2017

On October 18 – 19, a record number of over 350 attendees from 12 different countries arrived at the Hamilton Princess for Bermuda Convergence 2017 – a networking event covering […]

ILS market responding to losses test, but it’s not ‘the test’ – WTW

The insurance-linked securities (ILS) industry is in response-mode as a result of the aggregation of major losses in the third-quarter of this year. But while […]

UK ILS rule delay could reduce chance of Jan renewal ILS deals

The UK rules on insurance-linked securities (ILS) were supposed to have come before the Parliament in late September, but this has been delayed by the […]

Capital market to pay share of $25bn+ Bermudian loss from hurricanes

The Bermuda re/insurance market is expected to face a bill of somewhere around $25 billion from recent hurricane events, with the capital markets set to […]

ILS to show it’s “an integral part of the system” after hurricanes: JLT Re

As the markets begin to take stock and readjust to the impacts of two of the most devastating hurricanes the U.S. has seen in recent […]

Bermuda re/insurers paid out $73bn to EU

Bermuda insurers and reinsurers have paid out almost $73 billion in claims to European Union policyholders and claimants over the past 20 years. Of the […]

ILS Bermuda to host ‘Beyond Convergence’ event in London

For years the term alternative capital and Convergence have been used to describe the capital markets’ ever-increasing participation in the insurance industry.  Today, it is clear that the capital markets […]

Malta exchange approved to list insurance-linked securities

The Malta Stock Exchange has been approved by its regulators to launch an Institutional Financial Securities Market (IFSM), which would enable any insurance-linked securities (ILS) […]

ILS Bermuda announces BII ‘Career Pathways’ Scholarship and Education Initiatives

ILS (Bermuda) Ltd. (ILS Bermuda), organisers of Bermuda Convergence 2017 today announced a new education initiative that will provide scholarships for five Bermudian students to work towards an Associate in […]

Potential for post-event capital lock-up as ILS expands: Guy Carpenter

The need for reinsurance solutions for managing capital and earnings is as relevant as ever in today’s rapidly changing industry, but the increased use of […]

Convergence capacity continues to grow, although pace slows: A.M. Best

The amount of convergence capacity in reinsurance, so the capital in insurance-linked securities (ILS) funds, reinsurer sponsored third-party capital vehicles such as sidecars and from […]

ILS investors reload, as ILS fund managers find post-event opportunities

Investors in insurance-linked securities (ILS) and collateralised reinsurance investment funds are reloading in order to provide ILS fund managers with the necessary capacity to take […]

Mike McGavick announced as Industry Keynote Speaker for Convergence 2017

Hamilton, Bermuda – ILS (Bermuda) Ltd., organisers of Bermuda Convergence 2017 today announced that Mike McGavick, CEO of the XL Group Ltd, will be one of the event’s keynote speakers. […]

ILS to continue expansion despite efficient traditional reinsurance: Moody’s

A recent Moody’s survey reveals that property & casualty (P&C) reinsurance buyers don’t expect to increase their use of alternative capital in 2018 in light […]

Expect ILS sector to be larger post-event: Paul Schultz, Aon Securities

We should expect the insurance-linked securities (ILS) sector and its pool of alternative reinsurance capital to be larger post-major catastrophe events, than before it. As […]

New cat bond record as 12 month issuance hits $13.5bn

Data from the Artemis Deal Directory shows that catastrophe bond issuance over the 12-month period ending August 31st, 2017 reached a new market high of $13.5 billion, […]

ILS can help to narrow the flood risk protection gap: Miller, JLT Capital Markets

The insurance-linked securities (ILS) market and providers of capital market backed reinsurance capacity can help with the job of narrowing the flood risk protection gap […]

Five Charts on ILS Funds – shared by InsuranceLinked

Deteriorating market conditions have not put off investors who continue to pour money into ILS funds. The AUM of the largest ILS funds grew by $13 […]

ILS has potential in UK longevity & backing annuity deals: Hymans Robertson

Insurance-linked securities (ILS) has potential in helping counterparties to achieve longevity risk transfer and in financing or backing large transactions for bulk annuity insurers, according […]

ILS market will “continue to grow to new heights” – Swiss Re

Following on from the record period of insurance-linked securities (ILS) activity through the first-half of this year, with a bumper volume of new catastrophe bond risk capital […]

“Significant expansion” in the ILS market in Q2 2017 – Paul Schultz, Aon

The insurance-linked securities and catastrophe bond market saw a “significant expansion” during the second-quarter of 2017, as a number of factors stimulated record levels of […]

WTW Q2 2017 ILS Market Outlook: Barbarians at the Gate

The book Barbarians at the Gate came out in 1990 describing the $30 billion KKR leveraged buyout (LBO) of RJR Nabisco. The book almost as […]

South Korean police pension allocates $30m to LGT ILS fund

According to reports, the Police Mutual Aid Association, a $2 billion pension fund for South Korean police force members, is allocating $30 million to funds […]

Top 10 ILS managers add $4bn to assets in H1

The top 10 ILS managers lifted their assets under management (AuM) by 8 percent in the first half of 2017, taking the group’s collective capital […]

Collateralized reinsurance drives alternative capital growth in Q1: Aon

With alternative capital deployed across insurance and reinsurance markets having grown by 6% to $86 billion from the end of 2016 to the end of Q1 2017, […]

ILS funds move up the rankings, future growth potential clear

Generally, insurance-linked investment fund managers have moved up a ranking of alternative asset managers over the last year, as their assets under management increased propelling […]

ILS terms & conditions “largely converged” with traditional reinsurance: Willis Re

Insurance-linked securities (ILS) and catastrophe bond investment managers and their end-investors have been working hard to increase their market share in 2017, with pricing becoming […]

ILS listings on Bermuda BSX up by 16% in H1 2017 to $24.5 billion

The total number of insurance-linked listings of catastrophe bonds, insurance-linked securities (ILS), reinsurance sidecar notes and insurance linked investments on the Bermuda Stock Exchange (BSX) […]

When investing in ILS, size isn’t everything, says RenRe’s Chris Parry

When selecting an insurance-linked securities (ILS) investment size isn’t everything, and despite reduced returns in the space those that invest now will be in a […]

42% of Florida Citizens renewal is collateralized markets & ILS funds

A whopping 42% of the limit placed for Florida’s Citizens Property Insurance Corporation’s reinsurance renewal was sourced from collateralized markets and insurance-linked securities (ILS) fund […]

NFIP reform bills progress, including calls for flood cat bonds

A number of bills aimed at reforming the U.S. National Flood Insurance Program (NFIP), in order to make it a more sustainable system and to […]

ILS Bermuda announces Keynote Speaker for Convergence 2017 – Dan Gardner

ILS (Bermuda) Ltd., organisers of Bermuda Convergence 2017 today announced the event’s first keynote speaker, Dan Gardner – journalist, writer and consultant.  Mr. Gardner is well known for his invaluable […]

2017 sets new full-year cat bond record, at $9.14bn of issuance

It’s official. 2017 has now broken the record for full-year catastrophe bond issuance, with new risk capital issued so far already reaching $9.14 billion, according […]

ILS can be a socially & environmentally responsible investment: Experts

The argument for responsible investment (RI) in insurance-linked securities (ILS) can be seen in both society, with the benefits of insurance protection, and environmental benefits, […]

Open Protocol (OP) Insurance Working Group publishes Template for Insurance Funds

The Open Protocol (OP) Insurance Working Group has published the final version of the Open Protocol Template and Manual for Insurance Funds, following a public […]

More pension funds invest in ILS as alternatives allocations rise: Mercer

European pension funds have been increasing their allocations to alternative investments and this looks to have been benefitting the insurance-linked securities (ILS) space, with the […]

Cat bond issuance reaches $8.15bn in 2017, market hits $29bn record

The catastrophe bond and insurance-linked security (ILS) market has reached another milestone as of the 1st June 2017, with issuance for the year now at […]

Bermudian SPI’s recorded solid growth in latest set of BMA statistics

Data from the Bermuda Monetary Authority (BMA) reveals that the total assets of special purpose insurers (SPI’s) licensed in the region increased to roughly $34.34 […]

Report shows London losing reinsurance share

London is at risk of losing its global share and importance in reinsurance to places like Bermuda, a new report has warned. “London Matters — […]

Cat bond issuance in 2017 overtakes FY 2016, market hits $28bn record

Catastrophe bond issuance in 2017 has already reached $7.14 billion, according to Artemis’ data, which means that the year’s deal volume has already overtaken the […]

London losing ground in global reinsurance market

London’s share of the global reinsurance market is falling as rivals such as Bermuda and Singapore take more business and the British capital is also […]

London needs ILS innovation, as reinsurance market challenged: LMG

The London market is increasingly challenged and under pressure, according to a new report from the London Market Group (LMG) and Boston Consulting, with reinsurance […]

Bermudian SPI’s recorded solid growth in latest set of BMA statistics

Data from the Bermuda Monetary Authority (BMA) reveals that the total assets of special purpose insurers (SPI’s) licensed in the region increased to roughly $34.34 […]

ILS players look to InsurTech to disrupt the value chain: WTWS

As technology continues to advance and influence industries throughout the world, the risk transfer landscape seemingly has little choice but to embrace and utilise the […]

BDA launches Bermuda Risk Directory

The Bermuda Risk Directory website (http://www.brd.bm/) offers access to the island’s brokers, as well as insurance, reinsurance, captive insurance, and insurance-linked securities sectors, connecting users to the market’s globally-respected companies. […]

Robust start to 2017 cat bond issuance, on track for $8bn: Aon Securities

The catastrophe bond market got off to a “robust start” in 2017, with high issuance managing to outpace the maturities in the quarter, suggesting that […]

ILS sector “firing on all cylinders” but continued innovation required: Willis

The insurance-linked securities (ILS) market continues to impress and broaden in terms of products and perils despite spread levels and margins continuing to decline, which […]

ILS regulations to be delayed until after UK general election

The UK’s insurance-linked securities (ILS) regulations will have their publication delayed, after Prime Minister Theresa May announced a snap election this week which means Parliament […]

Will ILS regulations offer UK re/insurance a competitive advantage?

Bringing insurance-linked securities (ILS) to London is clearly a hot topic and an important step for the regulators and facilitators in making London a modern, […]

Capital ready for a hard market: Ursano

External capital is waiting to pour into insurance securities once a hard market arrives, according to Tony Ursano, president of reinsurance broker and ILS advisory […]

The Effects of a Border-Adjusted Tax on Florida’s Property Insurance Market

The U.S. House of Representatives’ Tax Reform Task Force recently unveiled its “Blueprint” for comprehensive tax reform, including a proposal to make the federal corporate […]

PCS Launches Global Marine and Energy Solution

Property Claim Services® (PCS®), a Verisk Analytics (Nasdaq:VRSK) business, has launched PCS Global Marine and Energy, its first solution outside the property-catastrophe sector. The new […]

Bermuda remains ILS world leader

Bermuda continues to be the world leader in the insurance-linked securities market — but new issuance of ILS fell for a second successive year in […]

Pension funds continue alternatives push in 2016, positive for ILS

The world’s pension funds continued to push more deeply into alternative investments in 2016, as asset classes which offer diversification continue to prove very attractive […]

Investors seek diversification within alternatives, positive for ILS

Large and institutional investors, such as pension funds, insurers, family offices and endowments, have increased their allocations to alternatives in 2016 and are seeking diversification […]

Cat bonds an attractive asset for EU insurers in a Solvency II world

Investing in catastrophe bonds is viewed as an attractive investment by some primary insurance companies, with the implementation of Solvency II meaning the assets can […]

Hong Kong targets ILS as important driver of reinsurance growth

The Hong Kong government’s Financial Services Development Council (FSDC) has said in a report that it sees insurance-linked securities (ILS) as an important driver of […]

ILS diversification up in 2016, U.S. wind share reduced: Munich Re

Insurance-linked securities (ILS) and catastrophe bond issuance diversification was evident throughout 2016, a year that saw the percentage of U.S. wind issuance reduce substantially from […]

Sovereign cat bonds can help governments borrow, improve welfare

For sovereign governments, having a source of disaster risk financing and insurance provided by catastrophe bonds can help the government to borrow more on the […]

Interest rate rise won’t reduce allocation to ILS market: Morgan Stanley

After the U.S. Federal Reserve hiked interest rates in December of 2016 analysts at Morgan Stanley have said that the move wouldn’t result in a […]

Expect to see more innovative ILS structures in 2017: BNY Mellon

Investment management and investments services banking group BNY Mellon recently explored the prospects for global reinsurers in 2017, and the impact market dynamics could have […]

Bermuda set to recapture greater share of offshore fund industry

Bermuda is the quintessential Anglo-American blue-chip jurisdiction, both culturally and geographically. As an interface between the US and Europe, through its diversified service provider industry […]

UK re/insurance market welcomes government’s draft ILS regulations

The UK Government has now published its draft regulations for the facilitation of insurance-linked securities (ILS) business, with the goal of establishing London as an […]

Futurist: disruption top threat, not cyber

Re-cap on ILS Convergence 2016 Keynote, Pablos Holman: Changing world: Pablos Holman, a futurist, inventor and hacker, shared insights into the world of hacking, and […]

ILS Bermuda Announces Record Attendance at Bermuda Convergence 2016

On November 9 – 10, close to 340 attendees from 13 different countries arrived at the Hamilton Princess for Bermuda Convergence 2016 – a networking event covering the alternative reinsurance, […]

Cat funds provide bulk of ILS capacity in 2016, geography varies: Aon

Dedicated catastrophe funds and institutions continue to provide the majority of capacity to the ILS space while hedge funds have also increased their market share […]

Innovative ILS can address “critical protection gap” – ILS Bermuda leaders

The evolution of the convergence space continues to influence the global insurance and reinsurance industry and this is only the beginning of the market’s transformation, which, along with traditional forms […]

Markets should focus on collaboration to grow ILS footprint

A recent article in a leading insurance publication suggested that Bermuda had stolen the ILS market from other domiciles, in this case London. But that’s […]

ILS Bermuda: ‘Collaboration and innovation will grow the global ILS market’

ILS Bermuda: ‘Collaboration and innovation will grow the global ILS market’ BSX listings reach 159 securities with market capitalization of $19.2billion Within the last decade, the Bermuda Monetary Authority (BMA) […]

World Bank looks to cat bonds for other kinds of risk

The World Bank has been helping countries to access the capital markets for catastrophe insurance and disaster risk transfer for over a decade, but now […]

Lazy Days of Summer: PCS Q3 2016 Catastrophy Bond

Qatar Re opens branch in Singapore

Bermudian-based Qatar Re has been granted a licence to operate a branch office in Singapore. The company, which is headquartered in Hamilton, also has branch […]

ILS can increase efficiencies & reduce costs for reinsurers: Aon

Being able to successfully attract and deploy alternative reinsurance capital can provide reinsurers with some potentially invaluable cost reductions and broader market efficiencies, according to […]

Alternative capital continues to grow. Bermuda continues to be the domicile of choice.

Insurance-Linked Securities Alternative Markets Find Growth Through Innovation September 2016 Click Here to view this report

Big ILS funds actively raise capital, collateralised Re focus grows: Aon

The largest insurance-linked securities (ILS) fund managers are actively raising capital at this time, which increasingly will be diverted to collateralised reinsurance as focus on […]

Bermuda: a safe harbour – Bermuda’s role is the risk transfer world

  Having weathered competitive and recessionary challenges, Bermuda is experiencing a renaissance of sorts. Turbulence and uncertainty in other global hubs are making the industry’s […]

ILS Bermuda announces Industry Keynote Speaker for Convergence 2016 – V.J. Dowling

ILS Bermuda announces Industry Keynote Speaker for Convergence 2016 – V.J. Dowling Hamilton, Bermuda – ILS (Bermuda) Ltd., organisers of Bermuda Convergence 2016 today announced one of the event’s two […]

ILS a “bright light in an otherwise murky market” – Brent Slade, Horseshoe

Brent Slade, the Chief Operating Officer (COO) of ILS and reinsurance management, servicing, transformation and fronting specialist Horseshoe Group, has underlined innovation in the insurance-linked securities […]

Reinsurance is on the edge of profitability

Reinsurance firms are on the edge of profitability, with combined ratios rising and an expectation that even an average year of catastrophe losses could tip […]

Brexit could result in London losing re/insurance business: Fitch

The fallout from the UK’s vote to leave the European Union, or Brexit as it’s more commonly known, could result in lost business for the […]

ILS market top opportunities & concerns revealed in BDA survey

The evolving insurance-linked securities (ILS) sector continues to present both challenges and opportunities for participants, with respondents to a recent ILS survey highlighting competition as […]

Straight in at number 1, catastrophe bonds top the charts

Catastrophe bonds may not be for everyone. They’re sophisticated assets and lower returns have reduced their attractiveness for some, of late. But the ability of […]

ILS industry generates 400 jobs in Bermuda in 2015: new BDA economic impact study of convergence sector

FOR IMMEDIATE RELEASE ILS industry generates 400 jobs in Bermuda in 2015: new BDA economic impact study of convergence sector Hamilton, Bermuda, July 20, 2016—Bermuda’s […]

Asia shows significant interest in ILS, market set for steady expansion

The insurance-linked securities (ILS) sector and the use of capital market capacity within Asian insurance and reinsurance is set to increase steadily, according to speakers […]

Does Size Matter? PCS® Q2 2016 Catastrophe Bond Report

OVERVIEW In some ways, 2016 has felt like a parallel catastrophe bond universe. Since we first issued the PCS® Catastrophe Bond Report four years ago, […]

Convergence of capital markets and reinsurance only just begun

Around twenty years into the convergence of reinsurance and capital markets there is a feeling that the trend is still in its infancy, with the […]

Post-Brexit uncertainty for re/insurance, low correlation highlighted

As the world digests the ramifications of the UK’s Brexit vote to leave the European Union, the equity analysts are assessing the potential impact to […]

No immediate Brexit hit to ILS market, but structural issues to consider

So, overnight the United Kingdom population has voted in favour of leaving the European Union, in what is to many a surprising result that presents […]

ILS: Bermuda as the jurisdiction of choice

Bermuda has overtaken the Cayman Islands as the domicile of choice for insurance-linked securities (ILS), according to the October 2015 Willis Capital Markets & Advisory […]

Catastrophe bonds a vital part of insurers “financial tapestry” – John Doak

The Commissioner of the Oklahoma Insurance Department, John Doak, has underlined the important role catastrophe bonds play in the “financial tapestry” of insurers. A view […]

ILS Bermuda Announces Registration Opens for Convergence 2016 and New Venue

ILS Bermuda Announces Registration Opens for Convergence 2016 and New Venue Hamilton, Bermuda – Bermuda Convergence 2016 will be held November 9 -10 at the Hamilton Princess,Bermuda, in the newly […]

Collateralised reinsurance & ILS could hit $160bn by 2020: LGT’s Stahel

The insurance-linked securities (ILS) and collateralised reinsurance market could more than double in size by 2020, growing from the roughly $70 billion of capacity it […]

World Bank launches pandemic risk market, backed by cat bonds

The World Bank has launched the “first-ever insurance market for pandemic risk”, the Pandemic Emergency Financing Facility (PEF), which is designed to rapidly disburse capital […]

Hurricane drought? Not so fast. Bermuda-based research says it’s a climatological myth

BERMUDA — Forgive Bermudians for questioning the existence of a hurricane drought. In 2014, Hurricane Fay lashed the island and its white roofs with 80 […]

Original Risk – Cats, Boxes, and a Taste for Offshore Energy

Offshore energy could become a large source of original risk. And the reinsurance industry needs growth opportunities. But before taking that next bite, the industry […]

ILS growth underlines Bermuda’s role as the World’s Risk Capital

Greg Wojciechowski, chief executive officer of the Bermuda Stock Exchange, examines the growing acceptance of ILS by the capital markets and the role that exchanges […]

Regulatory advances create reinsurance & ILS opportunities in Asia

Advances with insurance and reinsurance regulatory frameworks in China and India are reforming both countries’ reinsurance markets, a move that could provide global reinsurers and […]

ISO to collect terror event data, help develop terrorism ILS solutions

ISO, a division of Verisk Analytics is working to assist the development of improved terrorism insurance solutions, by collecting, aggregating and analysing data on global […]

Alternative reinsurance capital grew 12% to $72bn in 2015: Aon

Total global reinsurance capacity declined by 2% last year, standing at $565 billion at December 31st 2015. However, alternative reinsurance capital continued to increase its […]

Important to be invested in ILS to capitalise post-event: Herde, Munich Re

Insurance-linked securities (ILS) investors need to be active with capital deployed in the ILS market both pre and post-event, so they can support cedants capacity […]

Team effort behind Bermuda’s Solvency II joy

Six years of hard work by the Bermuda Monetary Authority, insurance industry figures and politicians have paid off with the final confirmation that Bermuda has […]

Hybrid balance-sheet, the future of reinsurance

Reinsurance firms operating with a hybrid balance-sheet approach to capital sources, management and funding, are the future of the industry, according to speakers at the […]

Call for Speakers at Convergence 2016

Do you or someone you know have a viewpoint to share with the ILS community? ILS Bermuda is calling for speakers to participate in the popular ‘Bermuda Shorts’ series at […]

ILS and catastrophe bonds are not sub-prime mortgages

The transparency of the insurance-linked securities (ILS) market alongside comprehensive third-party models, and sector sophistication underlines its differences from sub-prime mortgages, according to Aon Securities […]

ILS Bermuda Announces Date for Bermuda Convergence 2016

Hamilton, Bermuda – Bermuda Convergence 2016 will be held November 9 -10, in Hamilton, Bermuda ILS Bermuda Ltd announced today. Last November, the Bermuda Convergence 2015 event was hailed a […]

Bermuda’s regulation enhances business opportunities: Brad Adderley

Bermuda’s mature, sophisticated regulatory environment has aided its development into a world-leading hub for reinsurance and insurance-linked securities (ILS) business, and according to Appleby’s Brad […]

An Interview with Brad Adderley, Partner at Appleby (Bermuda) Limited

Brad Adderley is a partner in the corporate department of Appleby’s Bermuda office and has been a member of the insurance team for 20 years. […]

Predictions for 2016: Bill Dubinsky, Head of ILS, Willis Capital Markets & Advisory

The fifth in our series of articles featuring leading figures in insurance-linked securities (ILS) and reinsurance on the market as we move into 2016 features Bill Dubinsky, […]

ILS Bermuda Deputy Chair Kathleen Faries Named in Power 50

Kathleen Faries, Head of Bermuda – Tokio Millennium Re and ILS Bermuda’s Deputy Chairman has been named amongst Insurance Day’s Power 50. Insurance Day unveiled its Top Influencers for 2016, serving as […]

Reinsurance disruption to continue as finance becomes modular: Oliver Wyman

The insurance and reinsurance industry should expect further disruption as financial sectors with inefficient cost structures and high capital usage face threats from new entrants, […]

BSX chief Wojciechowski on the future of ILS

Global Reinsurance interviews stock exchange chief How big a role has the Bermuda Stock Exchange (BSX) played in the boom of ILS? We have about […]

Original Risk – Tempted by Profitable Growth?

Take a Bite: New Markets, New Lines, New Opportunities With abundant capacity, declining reinsurance rates, and a general increase in competition, the global reinsurance and […]

Cat bond & ILS listings on Bermuda BSX pass $19.2bn at end of 2015

The Bermuda Stock Exchange (BSX) continues to grow the volume of insurance-linked listings of catastrophe bonds, insurance-linked securities (ILS) and insurance linked investment funds on […]

ILS to encompass a broader range of structures and assets: Experts

The global trend for growth of reinsurance and insurance-linked securities (ILS) is set to continue and intensify, as investors increasingly look to sit on both […]

UN report highlights significant cost of weather-related disasters

A study conducted by the United Nation’s (UN) highlights the significant cost that weather-related disasters cause across the globe, and with the expectation of more […]

More ILS capacity to enter market than exit post-event: Industry leaders

As the use of ILS capacity has grown within the overall insurance and reinsurance market, the industry has voiced concerns about how investors will react […]

America’s Cup Endeavour Youth Program benefit from Jimmy Spithill keynote at Convergence 2015

Keynote speaker Jimmy Spithill, skipper and helmsman for Oracle Team USA, regaled the Bermuda Convergence 2015 audience with tales from the world of America’s Cup sailing. Proceeds from the sponsorship […]

Occasionally Bermuda does lead the world

For an Island so small, it is remarkable that Bermuda produces anything that could be labelled “best in the world”. Yet, occasionally, we can genuinely […]

ILS Bermuda announces 2nd panel – Converging Capital Structures

Hamilton, Bermuda – ILS (Bermuda) Ltd., organisers of the Bermuda Convergence 2015 today announced the second panel session that will be held at this year’s event as ‘Converging capital structures […]

“The Next $60 Billion” – ILS Convergence announces first panel session

Hamilton, Bermuda – ILS (Bermuda) Ltd., organisers of the Bermuda Convergence 2015 today announced the first panel session that will be held at this year’s event as ‘Deploying and Sourcing […]

Bermuda overtakes Cayman as predominant domicile for ILS vehicles

Bermuda has overtaken the Cayman Islands as the main domicile for insurance-linked securities (ILS) vehicles, according to the latest Willis Capital Markets & Advisory (WCMA) […]

Attracting ILS & cat bonds will be challenging for London: Report

A report published by global accounting firm Grant Thornton in partnership with UK Trade & Investment (UKTI) concludes that London and the UK will find […]

London faces ‘hurdles’ to win ILS business

Bermuda is in a strong position to hold on to its insurance-linked securities business — despite attempts by the City of London to muscle in […]

Reinsurance M&A ‘mega deals’ an opportunity for ILS

Increased merger and acquisition (M&A) activity, deal value and deal size during the first-half of 2015, highlights a return of the ‘mega deal’, but what […]

Asia-Pacific needs ‘responsive’ disaster risk transfer instruments: ABAC

The Asia-Pacific region is in need of greater access to disaster insurance and risk transfer instruments which can be responsive to actual catastrophe or weather […]

Tokio Millennium Re launches Capital Solutions unit; increases ILS focus

Tokio Millennium Re, the global reinsurance operations of Tokio Marine & Nichido Fire Insurance Co., Ltd., is increasing its focus on ILS business and advancing […]

ILS Bermuda announces Keynote Speaker for Convergence 2015

Hamilton, Bermuda – ILS (Bermuda) Ltd., organisers of the Bermuda Convergence 2015 today announced the event’s keynote speaker will be Jimmy Spithill, helmsman for America’s Cup Oracle Team USA. The […]

Bermuda captured 87% of ILS and cat bonds in 2014

According to data released by ILS Bermuda Ltd., the steering committee of the forthcoming Bermuda Convergence 2015 event, the island captured a huge 87% of […]

ILS Bermuda announces details of Convergence 2015

Hamilton, Bermuda – Bermuda Convergence 2015 will be held November 11–13, at Pier 6 in Hamilton, Bermuda. The newly expanded steering committee of ILS Bermuda Ltd. has been busy planning […]

Bermuda Stock Exchange cat bond & ILS listings near $17.5 billion

Following an impressive 2014 the Bermuda Stock Exchange (BSX) has passed yet another milestone, revealing that a significant $17.462 billion catastrophe bonds, ILS, sidecars and […]

UK should be “at the cutting edge” of ILS: Economic Secretary, Baldwin

The UK continues to make it clear that ILS is firmly on the governmental agenda as Economic Secretary to the HM Treasury Harriett Baldwin said […]

Bermuda Builds On ILS Success

Tim Faries, Bermuda Group Head, Corporate and Group Team Leader, Insurance, at Appleby, discusses the importance of Bermuda’s insurance-linked securities (ILS) market to the Island’s […]

Bermuda: Reinsurance Market Capital in Focus

Bermuda: Reinsurance Market Capital in Focus Bermuda is an island the size of Manhattan. As anyone who has ever tried to buy real estate in a big city like Manhattan […]

M & A- the long view

Last week’s announcement that Endurance will be buying Montpelier was the fifth significant reinsurance deal in as many months. Assured Research, an insurance focused research firm, has analysed the data from the last 15 years […]

Cat bond pricing stabilises for now

Data from recent deals indicates that catastrophe bond prices have stabilised over the last 12 months. Has the market finally reached the bottom or is it just pausing for […]

Third-party & ILS capital to more than double to $150B by 2020: Millette

As the pace of change in the reinsurance market accelerates, there is an expectation that the amount of capital seeking direct access to insurance and […]

ILS Bermuda Announces Date for Bermuda Convergence 2015

Hamilton, Bermuda – Bermuda Convergence 2015 will be held November 11-13, in Hamilton, Bermuda ILS Bermuda Ltd. announced today. Last November, the Bermuda Convergence 2014 event was hailed a major […]

Bermuda stretches ILS market lead

Bermuda is streaking ahead in the global ILS market, with the Island issuing $7.7 billion of during 2014. By comparison Cayman Islands saw only $0.7 […]

Bermuda fund generates 19.7% in first full year

Reinsurance veteran Don Kramer’s latest Bermuda start-up venture has got off to a flying start. In its first full year of operations, ILS Capital Management […]

As asset class correlations rise, attraction to ILS & cat bonds increases

Managers of large multi-asset class investment funds are showing signs of concern that correlation levels between asset classes may break down, with their portfolio adjustments […]

Appleby picks up award for ARC work

Law firm Appleby has been recognised at a UK awards ceremony for its work involving a progressive transaction to provide African Union member countries with […]

Bermuda to fight for title of ILS domicile of choice

Hamilton, Bermuda: January 28, 2015 – Bermuda has been the domicile of choice for 57% of Insurance Linked Securities (ILS) during 2014, and the island is committed to retaining its […]

Panel of industry leaders at Convergence 2014 to examine changing capitalization of the reinsurance industry

Over the last few years, a variety of new capital structures have significantly changed the dynamics of the reinsurance industry. With no sign that the rate of change is slowing, a panel […]

A lazy summer for ILS: Artemis Q3 2014 Catastrophe Bond & ILS Market Report

As is typical, the third-quarter saw a summer lull with the risk capital issued in new cat bonds and ILS during Q3 only hitting $364 million, according to the Artemis […]

PwC’s Reinsurance 2020: Take control of your destiny

Reinsurers with undifferentiated `me too’ strategies could be squeezed out of the market. Which business models will be viable in five years’ time and what steps do you need to […]

Reinsurance returns – lower and lower

The latest pricing data indicates that returns have slipped further for both the cat bond and reinsurance markets The third quarter has not been an active one for new reinsurance deals or cat […]

Fay & Gonzalo: A Tale of Two Storms

Bermuda was hammered by two tropical cyclones in less than a week, Fay and Gonzalo. But hitting Bermuda was one of the few things the storms […]

Cat bonds help California Earthquake Authority to offer rate reduction

The California Earthquake Authority (CEA), the publicly managed residential earthquake insurance provider, is proposing to reduce homeowners rates, as savings made due to catastrophe bonds […]

ILS Bermuda announces: “Bermuda Convergence 2014 will go on”

Bermuda’s resilience and catastrophe preparedness were demonstrated after being battered by Tropical Storm Fay and Hurricane Gonzalo within the period of a week.  The island received international media attention while […]

Retail Investors – the third wave

A new type of investor – the retail investor – is rapidly becoming a major force in the capitalisation of the reinsurance industrySince 2005 there […]

Nothing Happened: PCS Q3 2014 Catastrophe Bond Report

Catastrophe bond issuance remained at $5.7 billion through the end of September but still topped the same period in 2013. Despite the absence of property […]

Michael Frith: Insurance Is Big Business

Go to any city in the world, and look for the grandest or most iconic modern building there. Chances are it’s owned by an insurance company. And why is that? […]

Monte Carlo Wrap Up

Every year, the reinsurance conference in Monte Carlo is accompanied by market analysis from key industry observers that sets the agenda for the next year. Here […]

Big is not always beautiful

Interest from small and mid-sized cedants in the use of ILS as a risk transfer mechanism is growing fast and several platforms are now able […]

Innovate & adapt to navigate a reconfigured reinsurance industry: S&P

Innovation and adaptation are two key traits of global reinsurance firms that will succeed in remaining relevant as they navigate what will eventually result in […]

Alternative reinsurance capital and ILS on the rise. Up 18% in the first-half to now $59 billion of reinsurance capital, according to Aon Benfield’s latest estimate.

The amount of alternative capital in the reinsurance marketplace increased by 18% to reach $59 billion in the first-half of 2014, according to Aon Benfield, […]

ILS Bermuda Announces Keynote Speaker for Convergence 2014

Hamilton, Bermuda – The Keynote speaker for Convergence 2014 will be Paul Jardine, Deputy Chairman of of Lloyds, ILS Bermuda Ltd announced today. Mr. Jardine will address the fear of […]

Competition would be fierce even without third-party capital surge: S&P

The competitive nature of the current global reinsurance market is often blamed on the recent influx of additional capital from third-party and institutional investors, like […]

ILS success seen as a blueprint for attracting business

Bermuda Stock Exchange chief Greg Wojciechowsi has highlighted Bermuda success in attracting insurance-linked securities (ILS) to Bermuda in a prestige European magazine aimed at business […]

Positive for ILS investing: McKinsey says alternatives to keep growing

One of the factors that is responsible for assisting the rapid growth of the insurance-linked securities (ILS) and reinsurance-linked investments market in recent years is […]

Appleby Interview: The global centre for risk management

Having established itself as a global reinsurance market leader for many years, thanks in large part to its regulatory environment, Bermuda is enjoying a boom. […]

Bermuda: a world leader in the insurance linked securities market

Most people’s first thoughts of Bermuda will be of a paradise island that combines turquoise waters and pink beaches with old-style British colonial charm. To […]

Bermuda Funds Industry Deemed A Success

As a result of recent innovations in Bermuda’s Fund Industry, the Island was featured in the Regulatory Compliance Association’s (RCA) PracticeEdge Session on July 23, […]

ILS Bermuda Announces First Panel Session for Convergence 2014

LS (Bermuda) Ltd., the organisers of the Bermuda Convergence 2014 today announced the first panel session that will be held at this year’s event as ‘Beyond US Property Cat – […]

Nimble and opportunistic

Marc Grandisson, chairman and CEO of Arch Worldwide Reinsurance and Mortgage Group spoke with Bermuda:Re about Watford Re, the company’s work with Fannie Mae and […]

ILS Bermuda unveils new website as it plans for Bermuda Convergence 2014

Hamilton, Bermuda – ILS (Bermuda) Ltd., the organisers of the Bermuda Convergence 2014 networking event today launched a redesigned website at ilsbermuda.com. […]

Is water the new wind?

A conversation with Dr Robert Muir-Wood, Chief Research Officer of RMS about why water is the new wind when it comes to hurricane risk. For […]

Buffett Warning Unheeded as Catastrophe Bond Sales Climb

By Caroline Chen June 16th, 2014 Bond buyers are betting more than ever on the mercy of Mother Nature as they seek to boost yields […]

Room to grow as ILS & alternative capital demonstrate staying power

The staying power of insurance-linked securities (ILS) and alternative reinsurance capital still needs to be demonstrated to some of the world’s largest insurers, for whom […]

A brief history of cat bond prices – part one

We analysed twelve years of data to try to understand the causes of the big changes in the market price of catastrophe bonds Cat bond […]

The ILS ‘explosion’: getting it right

For insurers and investors alike, the right choice of trustee/agent administering the ILS structure is vitally important, as Alex Tsarnas and Erin Courcey explain. For […]

Global leadership in ILS

Bermuda has established a position for itself as the leading global domicile for ILS. Here we receive insights from the diverse set of partners who […]

Cash: ILS growth does benefit Island’s economy

Does the powerful growth in insurance-linked securities actually benefit the Bermuda economy? While questions remain about the job-making potential of a sector that has produced […]