-
The retro specialist joins the firm as it prepares to expand its reinsurance interests after spinning out of Willis. -
The broker forecast that this hard market may be more akin to the “discriminate and relatively short-lived" phase following 2005.
-
Aggregate retro capacity has “reduced enormously” but rate increases were less severe than some had feared, the Willis Re international chairman said.
-
Capacity was constrained but some ILS funds were able to grow, while cat bonds also propped up supply.
-
New capacity and fewer problems with trapping contributed to a smoother renewal than some had expected.
-
This is the carrier’s first public cat bond after a private deal done through Guy Carp’s Cerulean platform in 2019.
-
The executive will lead the retrocession and property specialty segments.
-
If the fundraise closes, the business will operate as a “permanent capital” monoline retrocessionaire.
-
Pessimism around trapped capital is growing, but low reported losses may mitigate the issue.
-
Scor sought higher-priced agg cover, but Munich Re achieved below-average uplift on its occurrence treaty.
-
Retro deals make up a third of this year's volumes, versus a quarter in 2019.
-
Investors from the ILS boom era are also those who've had the least luck, so fundraising remains a slog.
