Axis Capital
-
The average weighted spread on the deals was 651bps, skewed upward by cyber and wildfire deals. -
Carriers are grappling with a rush of investor interest in longer-tail lines.
-
CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
-
The cedant’s current deal is due to mature at the end of January 2026.
-
Ryan Alternative Capital Re was launched in partnership with Axis Capital.
-
Reinsurers are confident on cat rates and ready to deploy ILS capital.
-
The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
-
The headcount at the start-up now stands at around 40.
-
Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.
-
The carrier increased its cession by around 13% year over year.
-
The executive has also worked for Guy Carpenter during her 20-year career.
-
Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said.
-
Strong growth in fee income builds on the favourable rating environment.
-
The company’s reinsurance premiums ceded fell by 58% to $149mn.
-
The firm also posted a 56% increase in fee income.
-
The executive will replace Habib Kattan, who joined the company last summer.
-
Sub-1% management fee and performance fee-only structures have evolved in ILS.
-
The rise in ceded reinsurance premiums written impacted net premiums written.
-
The firm is focusing on developing specialty offerings.
-
The ILS platform ceded around 40% of its total managed premiums of $1.8bn.
-
The $75mn Long Walk Re deal secured broad market support from ILS investors.
-
Coburn will report to Jason Busti, Axis Re president of North America.
-
The $75mn cat bond will cover systemic cyber events on a per-occurrence basis.
-
The $75mn cat bond is expected to close in late November.
-
Axis set up a new casualty sidecar in the quarter.
-
Sources have raised concerns that cedant demand could outpace available capacity for cyber cat bonds.
-
The sidecar has been launched alongside partner Stone Point Credit Adviser.
-
The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season.
-
The firm’s PML on its Southeast wind business has increased after Northshore Re coverage was not renewed at 1 July.
-
The firm earned higher fees off the back of growth in insurance premiums ceded to reinsurers, as premiums ceded to third-party capital partners declined.
-
Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
-
Remaining ILS staff will now report into the group’s CFO.
-
The withdrawal from the aviation reinsurance class announced yesterday represented ~$10mn of non-renewed premium.
-
-
Inmaculada Gonzalez was previously US head of ceded reinsurance placements.
-
The carrier estimated losing less than $10mn of desired renewals due to exits from property and property cat reinsurance.
