Reinsurance

This year’s cover is less than the 2018 cover, which was $2.6bn.

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 bill still needs to pass two further Senate votes before heading to the state’s Assembly.

The reinsurer’s non-life combined ratio deteriorated to 97.7 percent despite an improvement in P&C results.

The two firms first partnered at the start of this year.

The stake in Catco’s listed fund held by the Boston-based asset management firm crossed the five percent threshold last week.

The launch was first trailed this April.

The life settlement industry is looking to attract ILS capital but many industry practitioners are reluctant to enter the space due to concerns over valuations, returns and the sector’s past reputation for unscrupulous practices.