Fronting
-
Highly concentrated, overly leveraged fronts could repeat the Unicover-Reliance story. -
Casualty rates in Q3 rose 6.1% driven by increases in commercial auto, energy and excess liability.
-
It is understood the permanent reinsurance capital vehicle is called Highline Re and will sit behind fronting carriers.
-
The reductions reflect a mix of programs being handed off and MGAs proactively switching.
-
Dealmaking took centerstage, but other discussed topics were growth, talent and capacity.
-
The executive is charged with defrauding investors out of nearly $500mn.
-
Fronting doesn’t look any better when it’s broken down by segment.
-
E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
-
Sources said that Howden Capital Markets is advising the fronting company.
-
Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
-
Cavello Bay Re will provide paper for the MGA’s business written out of Bermuda.
-
The legacy player is working to secure its first deal, and could look to expand to US E&S.
-
Hagerty Re will now assume 100% of the premium and 100% of the risk.
-
Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.
-
The MGA market now makes up 10% of the overall P&C market.
-
The company has reduced its exposure on large commercial auto and property.
-
The reinsurer also promoted Ethan Allen to chief program officer.
-
The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
-
The move will enable Hadron to deliver more admitted insurance solutions to clients and policyholders.
-
Live since May 2023, the reinsurer has over 40 trading relationships currently.
-
The new CEO hints at expansion into MGA markets.
-
Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
-
The company is on target to write around $700mn in premiums this year.
-
The change comes after an ownership restructuring.
