Casualty/GL

US insurer Travelers is being considered as a potential strategic partner for the proposed Bermudian start-up reinsurer Golub Capital Re as it continues to work toward a targeted summer launch.

Travelers has emerged as the potential strategic partner of proposed Bermudian start-up reinsurer Golub Capital Re as it continues on its path toward a targeted launch this summer, sister publication The Insurance Insider has revealed.

Arch Capital ceded $32.2mn of premiums to Watford Re in the first quarter as the start-up reinsurer began underwriting following its launch in late March.

Southport Re sale; US leads 2013 cat losses; El Niño subdues hurricane outlook; Data developments;

Cayman Islands start-up reinsurer Southport Re is to be sold to Lennox Investments LLC for an undisclosed sum, according to reports.

Questions have been asked about the future of Cayman Islands start-up reinsurer Southport Re due to concerns over the quality of assets it has been using to collateralise its underwriting, sister publication The Insurance Insider has reported

The new generation of casualty reinsurers backed by asset managers potentially offer a broader proposition than previous hedge fund initiatives. But they must be able to demonstrate long-term commitment to win over buyers, says Andrew Newman, head of casualty at Willis Re.

It's maybe a bit ironic for the editor of a convergence magazine to be sceptical of the impact that new capital vehicles will have on the market.

US insurer State Farm Fire & Casualty has returned to the cat bond market with the latest Merna Re deal, seeking $300mn in protection for central US quake risk, Trading Risk understands.

Arch Capital has launched a multi-line reinsurance company, Watford Re, in partnership with Highbridge Capital Management, thereby joining the ranks of other hedge fund-backed reinsurers to set up in Bermuda such as PaCRe and Hamilton Re.

Everest Re's sidecar Mt Logan Re has appointed David Whiting as chief underwriting officer.

Collateralised reinsurer Southport Re has appointed former Ace executive Brandon Young as chief operating officer.