Commercial Lines

Insurance Insider has gathered data on geographical areas prone to cat events, which are outside of southeastern US states, that keep weather experts awake at night.

The company’s targeted Vescor cat bond would have provided collateral to meet auto and other obligations, but there were multiple structural points of risk for investors.

The fronting company said impairment to Vesttoo’s LoC collateral will be "immaterial".

The underwriter has worked at the carrier for almost 20 years and has a background in specialty reinsurance.

The firm’s statement followed allegations in Israeli tech media of missing collateral linked to deals it was concerned in.

The deal is offered by Blackstone's captive Gryphon Mutual Property and fronted by Hannover Re.

Skilton will be chair of the team with Wheeler and Murray heading up the global re specialty unit.

The bulk of risks linked to a new investment grade cat bond it is working on relate to US private motor risks, with a fifth from commercial motor.

Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.

Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.

The firm’s 1st View report on the July renewals also flagged that an oversupply of ILW capacity may bring down attachment points relative to early 2023.

The broker’s latest report finds stability but continued price discipline in most lines and regions.