London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking the fourth annual renewal and continued expansion of this vehicle, Versutus …
Aon Securities, the investment banking division of reinsurance intermediary and capital adviser Aon Benfield, has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquake, which provides the organization with US$1.36 billion of capital markets’ protection. The bond …
The insurance linked securities (ILS) sector is set for another year of growth as the market recovers from 2017’s natural disasters, replaces lost capital and investors show mounting interest in ILS products. These are the findings of the latest quarterly …
Bermuda-based Artex announced the creation of Artex Risk Solutions (Singapore) Pte Ltd., its first office in the region, which will oversee the growth and development of Artex’s Asia Pacific captive and risk solutions strategy. Vic Pannuzzo has been hired as …
Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …
Armour, a Bermuda-based P/C run-off insurance business, announced it has raised up to $500 million to form a reinsurance group called Armour Group Ltd. The equity commitments were made in partnership with an investor group led by Aquiline Capital Partners, …
Neon announced it has launched the first ILS vehicle in the UK, NCM Re (UK PCC) Ltd., and raised third party capital to support the UK’s first ILS transaction. NCM Re is the first UK-domiciled protected cell company, which utilizes …
Brit Ltd., the London-based specialty insurer and reinsurer, has launched a Bermuda-domiciled collateralized reinsurance platform, Sussex Capital. Sussex Capital, through Sussex Re, a newly established Bermuda-domiciled special purpose insurer, will write direct collateralized reinsurance while also providing collateralized reinsurance to …
RMS, the Newark, Calif.-based global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The focus will be to help …
ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …
