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Sources said that Berkshire Hathaway will not support the cover for 2019.
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The Florida insurer said it had no concerns about collateral availability to meet Irma claims. -
The Q3 income offset losses recorded in H1.
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The loss contributed to a $1.6bn quarterly cat loss at new parent AIG.
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The $1.5bn deal also entails a reinsurance co-operation agreement between buyer and seller.
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Former Marsh broker Richard Green has joined as regional head of the alternative risk transfer business.
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The insurer's reinsurance cover is expected to be only lightly impacted if losses reach the top end of its estimate.
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Munich Re said there was growing pressure for underwriting discipline.
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The carrier said Typhoon Jebi and Hurricane Florence will account for most of the claims.
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A narrower view of exposures to Hurricane Michael suggests the two Florida insurers will bear the brunt of claims.
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Launched this year, the company targets risk from closed in-force life and annuity blocks of business.
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Reinsurers not doing business with the end investor are dealing with "fake ILS", the Hiscox Re & ILS COO said.
