This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Aon’s segregated accounts company White Rock Insurance (SAC) Ltd. has filed a lawsuit in New York against China Construction Bank, alleging an “inside man” at the bank had represented that letters of credit (LOC) involved in the Vesttoo…
Month: August 2024
Clear Blue responded “quickly and aggressively” to limit Vesttoo impact: KBRA
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The management of fronting specialist Clear Blue Insurance are praised for the rapid and determined response to the issues that arose when the company found itself caught up in the reinsurance letter of credit (LOC) fraud perpetrated by…
Northern Re, bridging the gap to casualty risk with a hybrid ILS approach
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Backed by a private investment group, Northern Re is a reinsurance firm that views itself partly as a hybrid insurance-linked securities (ILS) manager, enabling its insurance company partners to access the benefits of ILS capacity without the usual…
Twelve Capital brings second private cat bond of year, a $10m Dodeka 2024-2
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed its second private catastrophe bond issuance of the year, bringing a $10 million Dodeka 2024-2 deal to market. Just over a month ago,…
Increasing number of ILS formations seen, particularly in casualty: Damian Sealy, PWC Bermuda
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. There are an increasing number of insurance-linked securities (ILS) and collateralized reinsurance formations in Bermuda that have a focus on areas of the property and casualty (P&C) market outside of natural catastrophe risks, Damian Sealy of PwC Bermuda…
Vesttoo case: Porch & Incline P&C lawsuits against China Construction Bank may combine
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A pair of lawsuits that allege China Construction Bank staff were complicit in the reinsurance collateral fraud perpetrated by executives at Vesttoo could now be combined, as the Southern District of New York court looks to save time…
Nephila’s hedging & portfolio actions in best interests of investors: Noble, Markel
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Hedging and portfolio management actions undertaken by Nephila Capital, the insurance-linked securities (ILS) operation of Markel, are in the best interests of investors in the face of a potentially active hurricane season, Jeremy Noble, President of Insurance at…