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markets and the CEE & MENA

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Weekly updated cherry-picked selection of news & publications relevant to our niche and broad over ILS industry.

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Bermuda Market

Multi-billion dollar electric grid risks need risk transfer: Swiss Re
25 July 2017 @ 3:07 pm
Risks to the electric grid due to severe weather, natural catastrophes and climate change can cause losses in the billions of dollars, and while threats make our energy future more uncertain there is [...]
Fermat leads €10m private debt deal for Gefion Insurance A/S
25 July 2017 @ 12:19 pm
Insurance-linked securities (ILS), catastrophe bond and reinsurance linked investment specialist Fermat Capital Management, LLC has completed a €10 million private subordinated debt placement for Da [...]
Mt. Logan Re hits $949m, capital markets help propel Everest Re growth
25 July 2017 @ 11:08 am
The capital markets and fully-collateralized reinsurance capacity have helped reinsurer Everest Re achieve continued growth, by adding to its available capacity to help it underwrite more premiums acr [...]
Mexico’s FONDEN cat bond secures $360m, priced at lowest guidance
25 July 2017 @ 9:03 am
The latest catastrophe bond that will provide a source of reinsurance risk transfer for Mexico’s Fund for Natural Disasters (El Fondo de Desastres Naturales), the IBRD / FONDEN 2017 multi-peril cat [...]
Symbiotic relationship between ILS & reinsurance key for Asia
25 July 2017 @ 7:48 am
In order for insurance-linked securities (ILS) and capital market investors to increase their prominence in Asia education remains a key issue, as too does the ability for the symbiotic relationship b [...]
One tranche of Allstate’s Sanders Re 2014 cat bond upgraded by S&P
24 July 2017 @ 3:19 pm
Ratings agency Standard & Poor’s has upgraded one of the three tranches of notes issued in U.S. primary insurer Allstate’s $750 million Sanders Re Ltd. (Series 2014-1) catastrophe bon [...]
AIR launches severe thunderstorm, tornado, hail risk model for Australia
24 July 2017 @ 12:33 pm
Risk modelling firm AIR Worldwide has released what it calls the first severe thunderstorm risk model for Australia that captures the three main sub-perils of tornado, hail and straight-line winds, a [...]

London Market

London D&O market braces for Slater and Gordon claim
25 July 2017 @ 11:23 pm
The London directors' and officers' (D&O) market is facing a claim of around $26mn following a settlement by Australian law firm Slater and Gordon with its shareholders. A class action s [...]
Solicitors' PI premiums drop 1.3% in 2016: Law Society
25 July 2017 @ 11:23 pm
The mean cost of premiums for UK solicitors' professional indemnity (PI) cover dropped by 1.3 percent last year, according to The Law Society. In a report on the market's 2016 renewals relea [...]
WR Berkley profits hold steady
25 July 2017 @ 11:23 pm
WR Berkley has reported flat net income per share of $0.85 in the second quarter as its underwriting result was almost unchanged year-on-year. The US special insurer posted a headline combined ratio [...]
Sovag to dispose of EUR120mn run-off book
25 July 2017 @ 11:23 pm
Hamburg-headquartered insurer Schwarzmeer und Ostsee Versicherungsaktiengesellschaft, known as Sovag, is bringing a legacy book holding EUR120mn ($140mn) of gross reserves to market, The Insurance Ins [...]
Chubb's cost savings drive Q2 outperformance
25 July 2017 @ 11:23 pm
Insurance giant Chubb reported second quarter operating earnings of $2.50 per share, exceeding market expectations of $2.47 per share and the result achieved in the same period last year by $0.25. Thi [...]
Digest
25 July 2017 @ 11:23 pm
Darag replaces CFO Darag CFO Simon Minshall has left the company to be replaced by Michael Trotman, former CFO of retailer TM Lewin, The Insurance Insider revealed last week. It is understood Trotman [...]
Aquiline's InsurTech fund closes at $190mn
25 July 2017 @ 11:23 pm
Aquiline has brought to an end the most ambitious InsurTech capital raise to date, closing its new fund with around $190mn in commitments. Investments in the Aquiline Technology Growth Fund (ATG) ex [...]