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Covea’s Hexagon IV Re deal priced 13% below the initial target on a weighted average basis. -
Since 2007, the Caribbean country has received $100.9mn in payments from the CCRIF.
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Total gains for the year reached 7.71%.
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Many commercial risks will have London coverage, but insured values are relatively low.
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A roundup of all the news you need, including The Fidelis Partnership’s new syndicate.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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The syndicate is expected to write ~$300mn of business in 2026.
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Operating revenues were also up on the $29.1mn reported over Q2.
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O’Donnell believes RenRe is well positioned to produce longer-tail risk to third-party investors.
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Third-party investors made a net income of $415mn in the quarter.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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Central pressure of 900mb or below would trigger a full loss of the $150mn deal.
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The legacy cover will backstop policies written by its North American insurance business.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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A roundup of all the news you need, including our exclusive on the California Fair Plan.
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The insurer of last resort’s exposure was $696bn as of last September.
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The bond will provide protection against US wind with a PCS trigger.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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The cedant’s current deal is due to mature at the end of January 2026.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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