Reinsurers
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle. -
The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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The carrier will continue to write assumed retro in Bermuda.
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Newsom has yet to sign a pending bill to create a public cat model.
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A cat-focused vehicle is “the missing piece” of Hannover Re’s ILS offerings, said Silke Sehm.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Toh joins from Nephila, where he spent the last decade, bringing expertise in ILS.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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The facility will initially focus on US, Bermudian and European business.
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In the new role, Edward Johnson will be rejoining former Aon Securities colleague Chris Parry.
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Charles Mixon joined the firm a year ago in a business development role.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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The tech firm is building a joint stock company with insurers and investors.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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Sources said that the carrier has held preliminary talks with private debt investors.
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He added that Munich Re does not rely on retro or third-party.
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The leadership’s commentary spotlighted to value of ILS to the group.
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The sponsor extended two notes issued in 2022.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The volume of property cat aggregates placed grew 50% in 2025.
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The vehicle will be capitalised by an asset manager with more than $100bn in AuM.
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The trend for private credit in alternative asset management is “set to continue”.
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The data modeling firm said losses previously averaged $132bn annually.
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The agency noted inflows to cat bond funds and investor interest in private ILS.
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Competition from cat bonds in the top layers of programmes applied downward pressure on reinsurance pricing in 2025.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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The Japanese carrier faces integration challenges to make a success of the deal.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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Aspen Capital Markets earned $169mn in fee income in 2024 alone.
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Last year marked the second consecutive year in which carriers made a positive return.
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The reinsurer’s capacity is hugely important to ILS firms, with few alternative providers.
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Aaron Garcia will hold a senior role at the operation, sources have confirmed.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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The P&C division booked a combined ratio of 81.1% for the first half of 2025.
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The firm’s ILS vehicles posted low single-digit growth in assets under management in Q2.
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The reinsurer plans to repeat its 2025 purchasing for property and specialty protections.
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The reinsurer’s chair said cat pricing reductions are at a “miniscule level”.
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Aspen’s gross premium cession ratio grew 7.1 percentage points to 42.2%.
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The company also purchased $15mn of SCS parametric coverage.
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Investors are drawing lessons from life deals to find new routes into insurance markets.
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Nationwide will delegate management of the policies to Ryan Specialty.
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The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Reserve releases helped to recapture deferred fees.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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In the US, the index fell 6.7% year on year.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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In April, the loss modeller pegged losses at A$2.57bn.
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William Soares moves from casualty and specialty CUO to president.
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Weston Tompkins spent 10 years in an investor relations role at Securis.
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Up to nine million acres of US land are considered likely to burn.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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The Peak Re subsidiary mainly writes US motor and casualty reinsurance.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The pension plan has been allocating to ILS since 2005.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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As with 2024, pricing pressure has been most acute on top layers.
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The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
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The revision is significantly lower than the $4.5bn October estimate.
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The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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Fales will focus on creating investment opportunities for the carrier’s specialty reinsurance portfolios.
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The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.
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Its 2025 programme exhausts at $9.5bn excess $1bn.
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The bond initially sought $425mn across three tranches.
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His leadership roles included overseeing the firm’s capital solutions group.
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The firm’s assets under management were down $300mn in Q1 as performance fee income was hit.
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This year’s ceremony will include the inaugural Women in ILS Award presentation.
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The carrier announced a major writedown in its L&H book last year.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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Torrey Pines Re is split among three tranches of notes.
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The prediction comes after a highly active hurricane season in 2024.
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Markets have taken a battering across the globe following the “Liberation Day” announcement.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
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Insurance share prices were more resilient than the US stock market.
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The reinsurance broker said total reinsurance market capacity was up 5.3% year over year.
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The event has caused widespread damage in Bangkok, Thailand.
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Recent transactions on the platform include cat bonds from Flood Re and Brit.
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The deal is 45% larger than 2024’s issuance after attracting a “greater number of investors”.
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Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
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The bond provides coverage for North American storms and earthquakes, as well as European windstorms.
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The pricing is at the top end of the initial guidance range of 550-600bps.
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The bond will provide coverage for Japan typhoon and flood on an indemnity, per-occurrence basis.
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Lara Martiner joined Allianz in 2011 as group legal compliance officer and legal counsel.
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Sources warned some property XoL books are already running 50% loss ratios.
