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Widespread underinsurance and low exposures will limit losses. -
Since 2007, the Caribbean country has received $100.9mn in payments from the CCRIF.
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Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
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Many commercial risks will have London coverage, but insured values are relatively low.
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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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The syndicate is expected to write ~$300mn of business in 2026.
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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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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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Central pressure of 900mb or below would trigger a full loss of the $150mn deal.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The bond will provide protection against US wind with a PCS trigger.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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Investor interest is warming up following a colder spell over the past several years.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The executive is charged with defrauding investors out of nearly $500mn.
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While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
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The carrier will continue to write assumed retro in Bermuda.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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Ryan Saul will work at Ledger’s broker-dealer subsidiary Ledger Capital Markets.
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The hire is the hedge fund manager’s third ILS appointment in the past year.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Newsom has yet to sign a pending bill to create a public cat model.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Toh joins from Nephila, where he spent the last decade, bringing expertise in ILS.
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The alternative asset manager was founded in 2021 with offices in London, New York and Abu Dhabi.
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Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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The executive has worked at Aon for almost two decades.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Bellal Rahman joins from Catalina Life Re, where he was head of finance for two years.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The new Verisk SCS model is increasing expected losses on aggregate bonds.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The tropical cyclone is expected to be named Imelda.
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In the new role, Edward Johnson will be rejoining former Aon Securities colleague Chris Parry.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The ILS services specialist has worked in the ILS market in Bermuda for 10 years.
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Charles Mixon joined the firm a year ago in a business development role.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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The resource was developed by leading ILS managers and investors.
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The major storm is set to move on to mainland China later in the week.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The economic loss from the event was around EUR7.6bn.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Samild held multiple roles including head of alternatives at the Future Fund.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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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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Axa IM’s acquisition by BNP Paribas was confirmed in July this year.
