Property

Insurance Insider has gathered data on geographical areas prone to cat events, which are outside of southeastern US states, that keep weather experts awake at night.

The fronting company said impairment to Vesttoo’s LoC collateral will be "immaterial".

The underwriter has worked at the carrier for almost 20 years and has a background in specialty reinsurance.

The deal is offered by Blackstone's captive Gryphon Mutual Property and fronted by Hannover Re.

Skilton will be chair of the team with Wheeler and Murray heading up the global re specialty unit.

Reinsurers are less worried about their property books compared to last year, and eyeing development of casualty loss costs due to social and macroeconomic inflation.

Loss-free accounts were generally up 20%-50% at renewal, the reinsurance broker said.

The firm’s 1st View report on the July renewals also flagged that an oversupply of ILW capacity may bring down attachment points relative to early 2023.

The broker’s latest report finds stability but continued price discipline in most lines and regions.

The investment firm’s ILS holdings were worth around $746mn at year-end 2022.

Also formally joining the board are Carlyle’s managing directors James Burr and Jitij Dwivedi, and Adam Halpern-Leistner, director at Hellman & Friedman.

The reciprocal’s purpose is to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC.