Rebecca Perkins
Lead Reporter
Published by this author:
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Tom Gray spent the best part of a decade at Lancashire. -
There have been few retro exits despite softening amid cat bond competition.
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Oaktree will fund the syndicate and act as investment manager for its assets.
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Fears relating to an economic downturn continue to dominate concerns.
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Mory Katz joined the broker earlier this year.
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The carrier will continue to write assumed retro in Bermuda.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The Bermuda firm said HS Sawmill reflected its continued focus on life insurance.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The resource was developed by leading ILS managers and investors.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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California wildfires account for $40bn of the insured loss tally in H1.
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The broker has noted that double-digit reductions are increasingly available in property.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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The Bermuda-based team is led by John Fletcher.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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The headcount at the start-up now stands at around 40.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The CEO said private ILS funds can generate additional returns of 10%-20%.
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Richard Pennay also addressed the dip in cyber ILS activity.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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The asset manager has hired Rom Aviv as head of ILS.
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Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
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Recent transactions on the platform include cat bonds from Flood Re and Brit.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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The London D&F market will shoulder most of the losses.
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Eric Paire was head of capital advisory at Aon for nearly seven years.
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The reinsurer pegged the market loss at $40bn.
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The carrier pegged its LA wildfire losses at EUR140mn.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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The carrier expects the market loss to land at $35bn-40bn.
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A higher loss quantum will put a greater burden on retro programmes.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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Hurricane Milton resulted in the largest insured loss of the year at $25bn.
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The renewal marks the seventh issue of the retro vehicle.
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The largest non-US event in 2024 was the catastrophic flooding in Valencia.
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Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.
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It is targeting $25mn GWP this year and $50mn GWP in 2025.
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This publication revealed that Chris Schaper would move into the role on an interim basis in July.
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The combined ratio included 17 points of catastrophe losses in the third quarter.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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The loss estimate covers Czechia, Poland and Austria.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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Demand for peak peril retro increased significantly in Q2 2024.
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The US carrier abandoned the project due to high price expectations.
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The ILW specialist is believed to be exploring new opportunities.
