Stocks
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Experts at the Trading Risk New York conference emphasised in-built cyber risk protections from defences to exclusions, as ILS managers grapple with understanding the peril. -
Hannover Re’s Bermuda-based reinsurance transformer Kaith Re has issued a new $15mn private cat bond, a Bermuda Stock Exchange filing confirms.
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Interest income also boosted the results, with net assets of $9mn rising to $10.8mn by the half-year point.
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The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.
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A total of $386mn has been issued in private cat bond deals this year.
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Total cat bond lite issuance this year has reached $370mn, according to Trading Risk’s tracker
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The additional funding brings Kin’s series D total to $142mn, and its overall equity funding total to $265mn.
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The broker studied the impact of 14 major cyber events in its attempt to dispel ILS manager fears of a ‘double whammy’ cyber event that would also impact financial markets.
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The SPAC has undergone a dramatic shift in strategy since it first listed on the London Stock Exchange.
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The insurance company had set out plans last summer to expand its market share in Florida.
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Mosaic syndicated capital programme hits $250mn GWP across seven lines.
