Commercial E&S
-
Moody’s also expects losses in the billions of dollars. -
Hurricane Milton will show the ILS product behaving as investors expect it to.
-
A $40bn Milton loss should barely dent many ILS returns but will trap some capital.
-
The raise includes minority investments from Nationwide, Enstar and others.
-
Roughly $750mn of securities across 13 cells are available to institutional investors via London Bridge vehicles.
-
It is understood that the company has mandated Nomura to raise the risk capital.
-
The state’s lawmakers will meet on December 12-16 to address the challenges facing its troubled property insurance market.
-
Third-party capital is showing “skepticism” over the market while traditional capital will decline this year.
-
In 2021, the US-Bermudian reinsurance composite’s combined ratio improved six points YoY.
-
It is understood that the company is being advised by boutique investment bank/broking firm Stonybrook and TigerRisk Capital Markets.
-
The agency also affirmed the long-term issuer credit ratings of A- (excellent) on Hamilton Re and Hamilton Insurance Designated Activity Company.
-
The carrier will recognize a $6.8mn after-tax loss associated with the LPT agreement during the first quarter of 2022.
-
Mark Groenheide, who has held several positions at HDI and Zurich, was most recently senior vice president of excess and surplus lines at GuideOne.
-
The carrier revised its cat bill following Ida and PG&E losses.
-
Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.
-
The carrier has also exited US MGAs exposed to North Atlantic cat risk.
-
The specialty insurer will lend both admitted and non-admitted paper to other providers.
-
The reinsurer stepped off five Florida domestic insurance programmes but has taken more E&S risk in the southeast US.
-
After their appointments, Ari Moskowitz and Peter Bell will report to Jim Williamson, Everest Re group COO and head of reinsurance.
-
The reinsurer recovered 24% of its gross major losses from retro partners.
-
Investment bank partner Tom Deane said that reinsurers would remain crucial to the market and that the beginnings of rebuilding were underway that could reverse some current trends.
-
The carrier said Texas claims are beginning to drop off with quota share and minor perils cover in place to help minimise its retention.
-
The personal and commercial lines book will be folded into recently-acquired Centauri Insurance.
-
The entity plans to retain up to 30% of risk per program.
