Results
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Reinsurers are confident on cat rates and ready to deploy ILS capital. -
The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The ILS manager revised down slightly its forecast for the syndicate’s 2023 YOA.
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The reinsurer plans to repeat its 2025 purchasing for property and specialty protections.
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The firm booked net losses from the LA wildfires of EUR615.1mn in the first half.
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The Florida carrier said ceded premiums will rise slightly to $106mn in Q3.
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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 sidecar took $19mn of cat losses relating to the California wildfires.
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The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
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Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The unit said capital in the ILS market remains more than adequate to meet rising demand.
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The company also purchased $15mn of SCS parametric coverage.
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In Q2 last year, Everest ceded $26mn in losses to Mt Logan.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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Markel announced the sale of its global reinsurance renewal rights to Nationwide.
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The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
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This brings the carrier’s total limit on the program to $1.8bn.
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Reserve releases helped to recapture deferred fees.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
