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The newly-established Bermuda special purpose insurer, Hestia Re Ltd, has entered into a multiyear reinsurance arrangement with Kin Interinsurance Network, the reciprocal insurance carrier for Kin Insurance. The parties have successfully closed a $17...

The overall performance of insurance-linked securities (ILS) funds has slipped despite another year of record cat bond issuance, according to a Best’s Special Report. AM Best said that the global ILS market also remained saddled with prior catastroph...

Fitch Ratings has maintained its negative outlook on the ratings of SiriusPoint Ltd. (SPNT). Fitch affirmed SPNT ratings, including its BBB Long-Term Issuer Default Rating (IDR), BBB senior debt rating and A- (Strong) Insurer Financial Strength (IFS)...

The US Federal Emergency Management Agency (Fema) has now secured the $450 million upper-target for its new FloodSmart Re Ltd. (Series 2022-1) catastrophe bond, Artemis has reported. FloodSmart Re Ltd is Fema’s Bermuda-domiciled special-purpose insur...

Lloyd’s CEO John Neal described his visit to the island this week as very valuable and said that Mosaic Insurance helped make it all happen. (See related story.) Launched in February, Mosaic was founded with a wholly-owned Lloyd’s Syndicate, 1609, a...

Tracking the changing frequency and severity of natural disasters will help to guide recovery efforts through a new, online Disaster Recovery Hub comprising more than 100 big disaster case studies. The hub has been launched by the Cambridge Centre f...

Climate change on planet Earth has brought an increasing number of more powerful and destructive hurricanes. And global warming will drive more of the same, and determine the magnitude of the increase. This is the analysis of a Karen Clark and Compan...

Reinsurers rank climate change as the top risk facing the global insurance industry, a survey by the professional services firm PwC has revealed. The organisation said that many respondents to its Insurance Banana Skins 2021 Survey pointed to a sharp...

Bermuda-based PartnerRe has declared large catastrophe losses. Net of retrocession and reinstatement premiums were $297 million for the third quarter of 2021, and $417 million for the first nine months of the year. Loss estimates for winter storm Ur...

The head of the Bermuda Stock Exchange has hailed the importance of its listing of the first catastrophe bond to be issued out of Hong Kong. The $30 million Greater Bay Re Ltd, Series 2021-1, cat bond secures protection against losses inflicted by ty...

A leading rating agency has predicted that 2022 will bring the fifth consecutive year of premium rate increases for property catastrophe cover in 2022, and predicted that they will be double-digit rate increases. Fitch Ratings also said that it expec...

Bermuda reinsurer RenaissanceRe Holdings Ltd has estimated that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the company’s third-quarter 2021 results of operations. This estimate is prim...