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.
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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.
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The group reported an 89.7% combined ratio for the quarter.
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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 reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
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The (re)insurer used alternative capital in the reinsurance coverage.
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California homeowners are also expected to move admitted business to E&S.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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CEO Thierry Léger expects overall P&C pricing to be “stable” through 2025.
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The unit’s premium reduced by 4% for the first quarter.
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The ILS manager also swung to an operating profit after posting a loss in Q1 2024.
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Renewal rates were favorable compared to what could have happened after several hurricanes.
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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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January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion.
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Premiums ceded to the ILS vehicle increased by 76% to $433mn.
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ILS as a percentage of the pension fund’s total assets grew to 1.5%.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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This came as the market’s underwriting profit dipped 10% for 2024.
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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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The CEO expects to see a larger shift between condos and apartments in 2026 and 2027.
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HCI will now consist of two operating units – the other being its four underwriting entities.
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ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4.
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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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Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
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Wildfire loss ‘serves as a strong reminder not to unwind hard-fought for rates and terms’, the executive said.
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The carrier said 72% of those losses occurred in personal property.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
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The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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FY24 disclosures show shifting fortunes at reinsurer ILS platforms.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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The group ceded 55% more premium to Nephila over the year at $1.3bn.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said.
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Models will need to steepen the curve in the tail to reflect severe event frequency.
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The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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The carrier’s Milton loss came in below expectations, but its fire claims will be “material” in Q1.
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June.
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The reinsurer took $743mn of nat-cat losses in the quarter.
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The firm recorded a 13.3% nat cat impact to the P&C combined ratio.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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In other property, Helene and Milton will assure rates remain attractive, he added.
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The firm’s AuM in four key vehicles rose $526mn in Q3.
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The firm sees a "robust" pipeline of potential investors ahead of the renewals.
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The Floridian also announced the completion of its first-ever takeout from Florida Citizens.
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Ceded losses grew by 69.2% in Q3 from the prior year quarter to $44mn.
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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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Andrade flagged expected 5% to 10% increases in the US and Europe.
