ILS
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MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat. -
The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The bond will provide named storm and quake coverage in the US.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
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The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
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Industry sources estimate the market to be around $3bn.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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The loss tally is considerably lower than estimates issued by model vendors.
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The company increased its full year 2024 adjusted net income guidance.
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The proposals include increasing either statutory or CRTF funds.
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Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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A more consistent trading rhythm returned to the property market, with capacity deployment outside of frequency-exposed layers and more heavily loss-impacted segments bouncing back.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
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The Bermudian firm said it expects the acquisition could drive more growth than the prior forecast of $2.7bn incremental premium.
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In 2021, SiriusPoint acquired a “significant ownership stake” in the firm, which meant the specialty insurer and reinsurer providing multi-year capacity and paper to the ILS house.
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A summary of commentary from the second day of Inside P&C New York, with insights on InsurTechs, MGAs and Vesttoo.
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Inside P&C’s news team runs you through the key highlights of the week.
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Inside P&C’s news team runs you through the key highlights of the week.
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The company’s targeted Vescor cat bond would have provided collateral to meet auto and other obligations, but there were multiple structural points of risk for investors.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The firm’s statement followed allegations in Israeli tech media of missing collateral linked to deals it was concerned in.
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Inside P&C’s news team runs you through the key highlights of the week.
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With the macro environment drying up capital streams M&A has slowed, but IPOs are reflective of pricing opportunities.
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Normalized cat returns of 25%-30% do not seem to be persuading reinsurers to dial up risk.
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Hurricane Ian’s total effect is still unknown, but lessons from Hurricane Irma give insight into potential outcomes.
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US investments in the ILS and cat bond market are highly concentrated with five companies accounting for 70% of industry investments.
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Reinsurers are more bullish about their prospects than they have been in years, but start-up and ILS fundraising is a desert.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The broker put ILS capital at $96bn by year end, $1bn lower than mid-2021 but ahead of its $94bn year-end 2020 estimate.
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The call came after Markel reported Q1 results that included 21% growth and a 5 point reduction in the combined ratio.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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Sources fear that the issue will be buried after the coming legislative elections in November.
