Arch Capital Group’s US mortgage insurance operation Arch Mortgage Insurance Company (Arch MI) secured $374,460,000 of indemnity reinsurance from Bellemeade Re 2018-1, a special purpose insurer.
Alternative capital rose by $8 billion to $89 billion in 2017 and is expected to grow further in 2018 after a strong first quarter, according to Aon Benfield’s April 2018 Reinsurance Market Outlook.
The CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company) is exploring ways to scale up the cover it provides with regards to reach and products.
The US Federal Emergency Management Agency (FEMA) plans to secure additional reinsurance cover for the National Flood Insurance Program (NFIP) by engaging the capital markets for the first time through an insurance-linked securities (ILS) transaction on or about July 1, 2018.
Insurers and reinsurers sponsored approximately $3.1 billion in catastrophe bonds in the first quarter of 2018, up 34 percent from the first quarter of 2017, according to data analytics provider PCS.
Artex, an alternative risk management subsidiary of Arthur J Gallagher, has hired Peter Mullen to re-join the company after seven years as CEO-elect.
Bermuda-based mortgage insurance provider Essent Group has closed a $424.4 million reinsurance transaction and related mortgage insurance-linked notes offering.
Bermuda-based Everest Re Group and Hudson Structured Capital Management (HSCM) have entered into a strategic agreement that will see the reinsurer invest across several of HSCM’s investment funds, including as the anchor investor in HSCM’s new insurance technology strategy that will launch in early 2018.
Italian insurer Generali is taking advantage of more attractive conditions in the insurance-linked securities (ILS) market for windstorm reinsurance protection.
Specialist insurer Hiscox has launched a first ever cyber industry loss warranty (ILW) product to help address the uncertainty around cyber tail risk for re/insurers.