AXA XL completes an alternative capital reinsurance transaction with Texas MGA Bluefire

AXA XL | July 07, 2020

Bluefire Insurance, a Texas-based managing general agency, and Bermuda-based AXA XL Reinsurance, have announced the completion of an alternative capital reinsurance transaction in which Bluefire will assume risk from its personal auto portfolio through a collateralized reinsurance agreement with AXA XL.
AXA XL and Bluefire have been partnering since 2014. The partnership was strengthened last year when Buefire consolidated its carrier assortment and moved its reinsurance buying to a portfolio basis. The latest transaction represents Bluefire’s first risk-taking position on its business, and the first personal auto alternative capital transaction that AXA XL has completed in Bermuda.

Spotlight

We are pleased to present the results of our second annual survey on property risk management from Archipelago and Advisen Ltd., a Zywave company. The survey took place during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals. In total, the survey received 209 responses. The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV). We sincerely thank all survey respondents for their valuable time and insights.

Spotlight

We are pleased to present the results of our second annual survey on property risk management from Archipelago and Advisen Ltd., a Zywave company. The survey took place during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals. In total, the survey received 209 responses. The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV). We sincerely thank all survey respondents for their valuable time and insights.

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Hildene Capital Launches $1 Billion Reinsurer

Hildene Capital Management | November 25, 2022

Hildene Capital Management, LLC (“Hildene”), a $12 billion credit-focused asset manager, today announced the formation of Ludlow Re SPC, Ltd. (“Ludlow Re”), a Cayman Islands-based, Class B(iii) insurance company. Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1 billion of fixed index annuity reserves through a quota share agreement entered into with a U.S.-based life insurance carrier. “Given its ability to provide long-term, flexible capital, Ludlow Re optimizes Hildene’s robust asset management capabilities, helping us as we seek to enhance returns for our investors, Since Hildene’s inception in 2008, we have taken a prudent approach to managing the size and scale of our assets and will continue to execute on this approach with Ludlow Re — opportunistically adding to our portfolio only when we believe we can confidently invest in assets that produce attractive returns for our clients.” -Brett Jefferson, Founder and Co-Chief Investment Officer of Hildene. Hildene’s structured credit assets, particularly TruPS CDOs, align well with the duration and liquidity profile of life and annuity insurance liabilities, We believe insurers and asset managers can benefit from a symbiotic relationship — money managers receive access to insurers’ expansive capital base while insurers receive access to sophisticated investment opportunities they may not have otherwise,added Dushyant Mehra, Co-Chief Investment Officer of Hildene. Ludlow Re received its B(iii) insurance license from the Cayman Islands Monetary Authority in September 2022. About Hildene Capital Management Founded in 2008, Hildene Capital Management, LLC is a diversified institutional asset manager specializing in asset-based and credit opportunities. Hildene Co-CIOs Brett Jefferson and Dushyant Mehra are backed by a senior investment team with a long and established track record of investing across various credit and distressed cycles, leveraging their expertise in managing complex assets. Today, Hildene manages over $12 billion for a broad range of clients across its flagship private funds, tailored managed accounts and securitized asset structures.

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Insurtech Platform Asteya Joins as Founding Partner with AURORA Institute

Asteya | September 06, 2022

Insurtech platform Asteya recently supported the launch event of the newly founded AURORA Institute in St. Tropez on Saturday, July 23. The crucial event saw over 500 international attendees including several well-known celebrities, entrepreneurs, and investors. People of note included Robbie Williams, Kevin Love, Giannis Antetokounmpo, Rob Raco, Cameron Winklevoss, Lola Tash & Nicole Argiris, Peter Berg, Philippe Parenno, Kate Bock, and Queen Latifah. Live performances, presentations, and art installations included Kool & The Gang, Tinie Tempah, BLOND:ISH, master mentalist Lior Suchard, Tino Sehgal, Jeppe Hein, Refik Anadol, and the "first cyborg" Nathan Copeland. The AURORA Institute was founded by Louise Tabbiner, Christian Angermayer, and Henry Chalhoub. AURORA's mandate is to be the first non-profit incubator of its kind, focused on funding the world's leading individuals and NGOs dedicated to solving the existing global mental health crisis. The Institute's goal is to amplify the efforts of those already doing the most impactful work or to empower those that could do more - helping them build their own foundations or navigate how to make mental health a core focus in their companies, communities, and organizations. "At Asteya, our vision is to protect people's income and help them live a healthier and better life both physically and mentally, According to the National Institute of Mental Health, nearly one in every five adults experience mental illness, which is equivalent to nearly 50 million Americans, and additionally one out of 10 Americans with a mental illness are uninsured. We are proud to be one of the Founding Partners of the AURORA Institute whose mandate is to increase visibility and awareness around the need for mental health funding and to destigmatize mental health issues. At Asteya we strive to make mental health a priority for not only our customers but our corporate team as well." -Asteya Co-Founder Hadi Radwan The inaugural event honored the first four AURORA Institute prize winners, who were recognized for their significant contributions to ending the mental health crisis. Winners included Kevin Love, Dr. Adam Gazzaley (M.D., PhD.), The Klitschko Foundation, and The Weight of Gold. The event, titled Evening of Discovery, focused on the new science of mental health, mindful meditation, the integration of the metaverse and virtual reality in mental health interventions, and more. The launch event raised over $8 million which will be directed to the prize winners' charities of choice. The event and Asteya's involvement marked a crucial milestone in AURORA's plans to raise $50 million in the next 5 years while increasing visibility and awareness around the need for global mental health funding and de-stigmatization of mental health issues. Much in line with Asteya's ethos, The AURORA Institute believes that by exploring and opening our minds, we can build a healthier, happier, and more inclusive future for all. About Asteya Asteya is an Insurtech company whose mission is to make income insurance accessible to anyone. Asteya's goal is to support people's financial, physical, and mental health so they can focus on living. Founded in 2019, Asteya is backed by I2BF Ventures, Capital Factory, Cap Meridian Ventures, and Northstar.vc.

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CoverEase Partners With Beam Benefits

CoverEase and Beam Benefits | October 07, 2022

CoverEase, a digital insurance broker, announced today a partnership with the digitally-native employee benefits provider, Beam Benefits, via the addition of Beam's dental and vision products to their digital platform. CoverEase is the first company in the United States to offer businesses the ability to get instant online dental and vision quotes for their employees. The new integration adds Beam's dental and vision options to the company's marketplace which quotes workers' compensation, business liability and property, cyber liability insurance, group health insurance and term life insurance for up to $2 million in coverage. CoverEase CEO Shawn Edgington shared her excitement for the future of CoverEase with the incorporation of Beam, As our platform evolves and expands with additions like Beam Benefits, we're able to accelerate innovation, reduce costs, and save business owners time and money. "Beam is thrilled to partner with CoverEase, a proven leader in the employee benefits ecosystem, Through our integration, businesses using CoverEase can access dynamic & transparent dental and vision benefit pricing. We are excited about the technology enabling this partnership, and look forward to working further with CoverEase and their customers." -Alex Frommeyer, Co-founder and CEO of Beam Benefits CoverEase uses decades of best practices research, plus today's most advanced InsurTech to un-complicate the complicated. This approach results in a lightning fast, easy and awesome way to shop, compare, and buy business insurance and employee benefits. About CoverEase: CoverEase, a digital insurance broker, has reinvented the way businesses shop, purchase, and save on the insurance products that businesses need most. CoverEase utilizes an online "Amazon-like" shopping experience with unmatched quotes from the best insurance brands in the country. CoverEase, headquartered in Livermore, California, with offices in New York, is WBENC certified and led by CEO Shawn Marie Edgington. About Beam Benefits: Beam Benefits is a digitally-native employee benefits company that offers dental, vision, life, disability, and supplemental health coverage for employers of all sizes. The company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-powered underwriting, and thoughtful coverage for improved overall wellness. Its Beam Perks™ program* offers incentives to members and rewards them for healthy behaviors. Beam has raised over $160 million in funding and is available in 44 states across the U.S.

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