Markel Corporation has hired Hamilton's Brenton Slade as president of Lodgepine Capital Management, its new retrocessional insurance linked securities (ILS) fund based in Bermuda.
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has donated some insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the insurance industry.
The retro market has felt the impact of market changes in appetite and capacity across the Latin American region, Julian Vereker, head of group marketing at THB, told FIDES Today.
Alternative capital is now entering the market at many more points in an attempt to get closer to the risk and the logical conclusion is that some insurance-linked securities (ILS) funds will look to launch rated carriers, Eric Andersen, co-president of Aon, told Monte Carlo Today.
More insurance-linked securities (ILS) funds are exploring the possibility of forming rated reinsurers to give them more flexibility to offer investors a greater variety of investment options, said John Warwick, managing director and partner at ILS Capital.
Two key themes in the Bermuda market at present are a burgeoning life reinsurance market and an expected upward trajectory for insurance-linked securities (ILS), Arthur Wightman, PwC’s territory leader for PwC Bermuda, told Monte Carlo Today.
Pool Re, the UK’s state-backed terrorism reinsurer, wants to increase the number of reinsurers willing to participate on its retrocessional placements and the number of investors willing to support its ILS programme as it cannot buy as much capacity as it would like.
Industry veteran Dirk Lohmann, who now heads the insurance-linked securities (ILS) business of global asset management group Schroders, is exploring the possibility of launching a new reinsurer on Bermuda with a minimum of $500 million in capital.
As the ILS sector continues to evolve and develop, its next big breakthrough could be driven by technology and the potential transparency and liquidity this could deliver, Amneris Koutsavgousti of Deutsche Bank told Monte Carlo Today.
Nephila Capital, the insurance-linked securities (ILS) specialist now owned by Markel, has received regulatory approval to establish its own Lloyd’s managing agency. Nephila Syndicate Management will launch on October 11, 2019.