Bermuda ILS – Progress in leaps and bounds

ORIGINAL PUBLICATION HERE

Sponsors and investors showed continued interest in ILS last year, with record-breaking issuance and over $12 billion of new capital brought to market, and the Bermuda Stock Exchange reinforced its position as the ILS listing venue of choice, as BSX president and CEO, and chairman of ILS Bermuda, Greg Wojciechowski explains.

In 2017, Bermuda issued 24 special purpose insurers (SPIs) with reinsurance exposure consisting primarily of cat bonds, collateralised reinsurance and sidecars.

New insurance-linked securities (ILS) listings on the Bermuda Stock Exchange (BSX) totalled 103 securities for the year with a nominal value of $11.54 billion. This represents a 69 percent increase in the number of new securities listed in the year and an 87 percent increase in the nominal value.

Progress in leaps and bounds

ORIGINAL PUBLICATION HERE

Sponsors and investors showed continued interest in ILS last year, with record-breaking issuance and over $12 billion of new capital brought to market, and the Bermuda Stock Exchange reinforced its position as the ILS listing venue of choice, as BSX president and CEO, and chairman of ILS Bermuda, Greg Wojciechowski explains.

In 2017, Bermuda issued 24 special purpose insurers (SPIs) with reinsurance exposure consisting primarily of cat bonds, collateralised reinsurance and sidecars.

New insurance-linked securities (ILS) listings on the Bermuda Stock Exchange (BSX) totalled 103 securities for the year with a nominal value of $11.54 billion. This represents a 69 percent increase in the number of new securities listed in the year and an 87 percent increase in the nominal value.

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Growing the ILS pie

intelligent insurerORIGINAL PUBLICATION HERE

As the ILS market continues to grow an increasing number of innovative products are finding their way to the markets. Willis Re looks at its new Azzurro Re I catastrophe bond.

The need for continued innovation within the re/insurance industry and the positive efforts around growth were a major theme at Monte Carlo this year – how to meet the challenge of underinsurance and ways to help insurers better tackle emerging exposure areas such as cyber and catastrophe liability were prominent among the topics of discussion.That the industry is at an inflection point for growth is as true for the insurance-linked securities (ILS) markets as it is for re/insurers.

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Insurance Insider: CEE insurer gets first licence to post collateral abroad

ins insider whiteORIGINAL PUBLICATION HERE 

The National Bank of Ukraine has granted the first licence permitting a domestic insurer to post collateral in a bank outside of the Central and Eastern Europe (CEE) region.

Ukrainian insurer Brokbusiness was given approval to post collateral directly into a designated Western bank as part of its retro reinsurance capacity provision.

It was assisted by strategic partner Phoenix CRetro, a Bermuda-based retrocession carrier.

Artemis: Phoenix CRetro launches to bring fresh capital to catastrophe retrocessional reinsurance

ORIGINAL PUBLICATION HERE

A new firm called Phoenix CRetro has launched targeting the catastrophe retrocessional reinsurance market while offering a way for institutional investors and capital providers such as re/insurers in Central and Eastern Europe (CEE), the Commonwealth of Independent States (CIS) which consists of countries formerly part of the Soviet Union and the Middle East & North Africa (MENA) to access the return of the reinsurance market.

Phoenix CRetro Reinsurance Company Ltd. is a Bermuda domiciled special purpose insurance vehicle and a segregated accounts company, which was registered with the Bermuda Monetary Authority on the 9th May. The head office of the firm is in Bermuda but it will operate a satellite office in London to be close to the Lloyd’s of London insurance market, from where most of its underwriting business will be sourced.