Ark Underwriting
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The carrier also reported a $16mn satellite loss during the quarter. -
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The renewal included $130mn from White Mountains, considerably less than the $205mn Ark’s parent kicked in for 2023.
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The Bermuda sidecar was established last year to support property cat underwriting in a hard market.
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The carrier experienced three large claims in Q2 in the property and marine and energy lines of business.
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The reinsurance sidecar was formed in Q4 to provide collateralised reinsurance capacity for Ark's global cat portfolio.
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TigerRisk Capital Markets & Advisory acted as exclusive structuring and placement agent for the reinsurance sidecar.
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Outrigger Re will write a quota share of Ark’s Bermuda property treaty book.
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The two Lloyd’s players are the first to bring sidecars to market as they seek to capitalise on surging projected returns.
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From ESG to social inflation, systemic risk to cat risk, we highlight some of the top discussions from this year’s four-day virtual conference.
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A reinsurance panel at Reconnect also called for reform of risk models
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The new Bermuda venture launched at the beginning of the year as part of the business’s scale-up.
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