Results
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The venture will launch in early 2026 and include captives, ART, cyber ILS and specialty (re)insurance elements. -
The outcome of Eaton Fire subrogation is an uncertainty for some vehicles.
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Carriers are grappling with a rush of investor interest in longer-tail lines.
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On a nine month basis, fee income was up nearly 30% to $146mn.
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The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”.
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The carrier attributed the results to a significant fall in major-loss expenditure.
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The largest net individual loss was January’s California wildfires at EUR615mn.
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Pre-tax income at the vehicle was $30mn in the first nine months of 2025.
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The firm said this was due to planned returns of capital to ongoing investors.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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Operating revenues were also up on the $29.1mn reported over Q2.
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O’Donnell believes RenRe is well positioned to produce longer-tail risk to third-party investors.
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Third-party investors made a net income of $415mn in the quarter.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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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.
