Property

It is offering a significantly higher premium than prior-year cat bonds from the state insurer, after it stands to gain $135mn from cat bond payouts linked to Hurricane Ida.

Notices of intent to file lawsuits fell 12%, the first time such notices have fallen since July.

The incoming COO joins from PGGM, where he is currently a director within the credit and insurance-linked investments team.

The issuance is seeking named storm cover in Florida, Georgia and South Carolina.

The specialty P&C carrier is offering high single-digit rates for the cover.

A restructure will see a global product leader appointed for all QBE Re’s business lines.

RenaissanceRe CEO Kevin O’Donnell explained on an earnings call his take on the mid-year renewals and a relatively low impact of the Ukraine war.

The firm ‘felt very good about consolidating programmes’, at 1 January.

The reinsurer said Q1 large loss events included Oz floods, European storms and a sunken ship.

Insurers have paid out $580mn to policyholders already.

Storms Dudley, Eunice and Franklin have resulted in 177,000 claims.

The carrier also revealed $30mn in Russia-Ukraine Q1 losses.