Treaty Reinsurance

The ratings agency said Brazil’s 12% inflation rate continues to fuel loss costs, but IBNR reserves increased 3% from 2020.

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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The expansive broker has also hired Mario Binetti from Everest Re as head of casualty treaty and actuarial.

Aon’s reinsurance solutions CEO, Andy Marcell, said the loss ratios of treaties managed by the brokerage firm performed “pretty well” in the past 10 years.

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Nat cat losses added 11.8 points to the combined ratio at 101.5% over five years on average, S&P has found.

The review comes as the company plans to issue a follow-on offering of its shares in early September.

Vesttoo's aim for the partnership is to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.

Contasta joins the Connecticut-based reinsurer after over 14 years at Alleghany-owned carrier TransRe.

The company ceded 75% of gross premiums in 2020.

It is unclear if policies transferred by UPC to other entities through quota shares and renewal rights deals are covered by federal mortgage institutions.