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The legacy cover will backstop policies written by its North American insurance business. -
Mory Katz joined the broker earlier this year.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
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The restructuring arrangement is designed to protect creditors.
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The reinsurance veteran joins from Artex Risk Solutions.
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In its first deal, Enstar received $350mn in premium for certain 2019 and 2020 business in AlphaCat’s portfolio.
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Reserve risk specialist Enstar has struck its first deals in the ILS space this year.
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The deal freed up capital held against deals written in 2019 and 2020.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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ILS investors’ stress over Gibson Re is unlikely to inhibit legacy ILS’s future.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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CEO Booth said there is “continued interest” in the NA captive market.
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The first edition of the vehicle has generated fee income of $29mn to date.
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The carrier has agreed to acquire the former Credit Suisse ILS unit, following the acquisition of sister company Humboldt Re in 2021.
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The CEO received $3.9mn in shares alongside his salary and bonus.
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The company believes the program management and legacy businesses would work better as standalone operations.
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The deal provides collateralised backing for Riverstone’s mammoth £1.2bn reinsurance-to-close deal struck for MS Amlin and other transactions.
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The Italian group previously halted writing catastrophe excess-of-loss business.
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The executive chairman has sold around half of his holding back to the company.
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Inver Re said the launch was part of its growing inter-disciplinary approach to reinsurance broking.
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The firm hopes to offer investors legacy and live risk in the future.
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Chris Harding and James Ferris have been appointed as directors of capital and risk advisory, effective April 2022.
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The deal is the largest in Enstar’s history and sets Aspen up either for a sale to a strategic buyer or a return to the public markets.
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The carrier posted a small loss in the first half of 2021, the agency noted.
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The new generation of vehicles is driven by a lively legacy market and innovations in structuring deals for long-tail risk.
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The portfolio has no active client relationships and was underwritten from 1969 onwards.
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He has held a seat on the company’s board since 2017.
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The new vehicle gives third-party investors access to Premia’s run-off investments.
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The January agreement remains subject to regulatory approval.
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The investment comes as R&Q positions itself to take advantage of pandemic-related market dislocation.
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It is understood that CFO John Parry, who joined the firm last year after holding the same role at Lloyd’s, will become interim CEO.
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The pension fund will acquire the stake from Fairfax for a cash sum of $560mn.
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The deal is set to close in the first half of 2020 and will see the Singaporean reinsurer enter run-off.
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