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The acquisition is expected to close in the second half of the year.
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The UK insurance regulator highlighted concerns about reinsurance coverage adequacy had 2017 losses been more severe.
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Two executives, Edward Torres and Niraj Patel, are leaving the firm as it changes tack with its ILS business.
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The reinsurer is on track to close its new ILS issuance at $300mn. -
The Texas Windstorm Insurance Association has raised the target size of its latest issuance.
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The Florida carrier launches its two-tranche 2018-1 to cover named storms.
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The Florida-focused carrier obtains reinsurance protection for a 1-in-400-year event.
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The carrier's first cat bond has increased in size and dropped in price as marketing progresses.
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Florida Citizens' latest issuance expands by a quarter during marketing.
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Florida's state-backed insurer is set to buy $1.42bn reinsurance for the 2018 season.
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The reinsurer also benefited from low loss experience as first quarter net income rose 7.5 percent.
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Lancashire's $500mn sidecar took a loss in Q1 but grew its premium base by a third.
