Insurance archive
Every Insurance story, newest first. 397 stories
2 stories
- Insurance Credit
AM Best takes private-credit risk to the NAIC's own stage
A rating-agency agenda slot previews how the industry's quietest big allocation gets graded—and it moves faster than a capital formula.
- Insurer portfolios
Fewer PRT deals leave insurer portfolios with less pension money
October Three's carrier survey counted $6.05 billion of pension risk transfer premium in a first half that should have been heavier, and the shortfall is already showing up in the reserves that fund insurer portfolios.
5 stories
- Insurer–manager partnerships
A sidecar files into a market that has already cut rates
Bolt Sidecar I's Form D lands after 15–20% property-cat cuts, ahead of a jurisdiction capital charge, and before a hurricane peak the calm Atlantic has left untested.
- Cat bonds & reinsurance
Swiss Re sizes a $300 billion Florida tail against a soft market
Swiss Re Institute's $300 billion Florida scenario lands on a market that just cut property cat rates 15% to 20%.
- The Wrap
The data-center build-out is reinsurers' unseen hail risk
Twenty US locations hold most of the storm-damaged data-center floor space, and capital keeps arriving faster than the models can map the exposure.
- Insurer portfolios
Life insurers' five-year yield streak is a bet on the RBC text
The general-account strategies behind five straight strong second quarters are the same ones regulators are preparing to charge for, so the streak is a bet on where the capital charge lands.
- Insurance Credit
NAV Finance's Insurance Pitch Meets the RBC Rewrite
A fund-finance firm makes the allocation case to insurers in the language of yield, while the capital charge that settles it is still being written.
4 stories
- Cat bonds & reinsurance
Bald Range likely lands in cedents' results, not cat bonds
A modest Canadian wildfire total says more about where January's repricing will be fought than about any catastrophe bond trigger.
- Cat bonds & reinsurance
The data-center boom is building a cat aggregation reinsurers can't see
Twenty US locations hold about 80 percent of storm-damaged data-center floor space, and the next wave of construction is moving deeper into the same hail and tornado belt.
- Cat bonds & reinsurance
Cyber XoL's basis-risk debate is really a drafting fight
Definitions decide whether the next cyber catastrophe is a claim, which puts the specialty-line discipline test inside the wording.
- The Wrap
Bamboo's $700m IPO pays the sponsors, not the insurer
An all-secondary deal prices a $3.08 billion valuation on a home insurer whose first half earned $13.8 million, with the captive moving back to Bermuda and the print expected September 22.
6 stories
- Cat bonds & reinsurance
A record-quiet Atlantic will not hold the January line
At 7% of normal activity with its peak still ahead, the basin leaves cat bonds and collateralized reinsurance holding an untested position, not a clean year.
- The Wrap
The soft market's real restraint is a bordereau queue
Convex would write more delegated business if it could process the files, and that ceiling will do more to set January's terms than any rate.
- Insurer portfolios
Gundlach's hold call is an insurer duration problem
Gundlach's webcast a week before the FOMC puts the general account's next duration decision on the long end of the curve, where a hold does the repricing.
- Cat bonds & reinsurance
The January test has moved to specialty lines
With property-cat pricing softening, the discipline test now runs through specialty lines — and Conduit's retreat up the tower is the tell.
- Cat bonds & reinsurance
Bermuda's delegated-underwriting push hits a bordereaux bottleneck
Convex runs a fifth of its business through MGAs and MGUs and says it would write more — the ceiling is administrative, not appetite.
- Insurer portfolios
Growth equity's insurance pitch runs into the capital charge
The size of an insurer's growth equity sleeve will come from the RBC text, not the return deck.
10 stories
- Cat bonds & reinsurance
September's storm losses land on cedents, not on cat bonds
A loss that settles inside retentions leaves the capital markets alone and hands primary carriers one more exhibit for the January attachment argument.
- Insurance Credit
Voya pitches fund finance as the general account's J-curve fix
Voya's private credit ABF desk argues that lending to funds delivers similar returns with less ramp than an LP stake, leaving insurers to underwrite the risk claim themselves.
- Insurance Credit
Private credit's "one corner" defense reaches the insurance channel
Principal is asking insurance general accounts to accept a distinction the published version of its argument doesn't yet draw.
- Insurer portfolios
StepStone calls a real estate bottom; the properties will say if it's right
The house view gives general accounts a level to argue with, but the entry decision lives in which properties are being forced to market and why.
- The Wrap
Strategics are taking insurance control, and sponsors are the sellers
Samsung's move toward 90% of Canopius, JAB's Columbian conversion, and Corebridge-Equitable's cleared merger all point one way: permanence is the premium.
- Cat bonds & reinsurance
Lowell's Hawaii loss tests wording, not reinsurance capital
A single-firm insured loss estimate sits below the level that moves cat capital, leaving the wind-flood boundary as the thing to watch.
- Insurer portfolios
Onshore admitted assets grow $400 billion; sidecars compound five times faster
U.S. life/health admitted assets rose 4% to $10.31 trillion in six months; Bermuda's sidecar book compounded roughly five times faster.
- Insurer portfolios
NEAM reads July's hawkish minority as a general-account warning
Three members voted to hike, and payrolls have since averaged 20,000. For insurers, the question is what the next maturing bond buys.
- Cat bonds & reinsurance
Bermuda's life reinsurance lead is a capital-rules story
The NAIC's jurisdiction-risk charge, once drafted, will put a price on the Cayman gap Fitch currently describes only as a transparency problem.
- Cat bonds & reinsurance
The discipline test now runs through the investment portfolio
BCG's call for underwriting discipline lands on a sector whose returns now depend more on its fixed-income book than on the risk it underwrites.
4 stories
- Cat bonds & reinsurance
Arthur Re's three deals say cat bond friction is the constraint
Three placements through one Bermuda vehicle in three months make Gallagher Re's case that the cat bond market's binding constraint has moved from investor appetite to the cost of getting a deal done.
- The Wrap
A capital charge puts Bermuda's $375 billion sidecar stack on trial
The NAIC's instruction turns jurisdiction risk from a checklist into a capital charge. Bermuda's recognition now depends on whether its collateral can answer.
- The Wrap
The calm that builds the next wave
Reinsurance is loosening terms, not just price, and the failure record says the quiet is when solvency erodes.
- Insurance regulation
PACICC's 1,273 failures arrive in bursts after calm stretches
The catalogue's burst-by-burst record argues for capital rules written in the calm, when the next wave is built.
9 stories
- The Wrap
Willis Re taps Conduit cofounder Eckert as CEO
Eckert leaves a Bermudian balance sheet he built to sell capital insight from the broker's side.
- Cat bonds & reinsurance
Fitch: 2027 reinsurance softening moves past price into terms
With capacity outrunning demand, reinsurers are expected to give up attachment points and coverage. Casualty sidecars will test whether the discipline of the hard market survives.
- Insurance regulation
Corebridge-Equitable merger clears approvals; year-end close is the test
Approvals in hand, the $22 billion tie-up's real deadline is the Dec. 31 close.
- Insurance regulation
AM Best drops Farm Bureau P&C's negative outlook
The group's A (Excellent) ratings stand as the downgrade warning is retired.
- Insurance regulation
TRIP renewal confirms the terrorism tail still sits beyond private capital
The House voted 373-15 to extend the federal backstop through 2034, a fifth admission that deliberate attack cannot be modeled as private risk.
- The Wrap
Markel hands Gayner the chairman's seat and splits the presidency
Steve Markel retires as chairman after more than 50 years, leaving Tom Gayner as chairman-CEO and a new Leadership Council charged with reviewing strategy, performance, and capital allocation.
- Cat bonds & reinsurance
Cedar Trace's $300m Lloyd's syndicate forms a Bermuda capital loop
Existing Mereo shareholders and Cedar Trace ILS investors are expected to back the 2027 syndicate, making the launch a test of whether affiliated capital underwrites like balance-sheet money.
- Insurance regulation
NAIC moves jurisdiction risk from checklist to capital charge
A memo from the NAIC National Meeting instructs the Life Risk-Based Capital Working Group to develop a capital charge for cessions outside reciprocal jurisdictions, putting the Cayman gap in the capital formula and turning Bermuda's earned recognition into a capital advantage.
- Cat bonds & reinsurance
Swiss Re: cat lull is luck, not a license to cut
As Rendez-Vous approaches, the reinsurer is pointing to a 5%-7% long-term loss trend and a $320 billion tail scenario to argue that January renewals should be priced on risk, not on the last two quiet years.