-
The target size shrank from 2018 after the insurer revised the renewing portfolio, with the Bermuda-listed component dropping by $143mn.
-
Reinsurers that have been reliant on retro cover also pared back their market share, as the broker said mid-year renewals showed tangible pricing momentum. -
The retro writer warned earlier this month that it was increasing its loss reserves for the two events.
-
ILS funds have been among the top sources of new demand since 2017, the broker said at an Aon United ILS day in London last week.
-
Rates are believed to be around 15-30 percent up in the retro market, helping in turn to support increased rates in the Florida renewal.
-
The reinsurer is looking to pay more rate to secure retro cover in a tightening market.
-
The reinsurer has expanded its retro sidecar by more than a quarter from the previously estimated size of $531mn.
-
Gregory Murphy believes cedants have too little information about reinsurers’ exposure to the retro market.
-
The reinsurance fund has ramped up in recent years to $700mn-$800mn.
-
A drought of retro cover may bolster Florida rate demands, sources suggest.
-
The fund’s ordinary shares added 0.85 percent during the month.
-
The reinsurer’s non-life combined ratio deteriorated to 97.7 percent despite an improvement in P&C results.
