Casualty/GL

AIR Worldwide and RenaissanceRe said they are collaborating to develop a probabilistic model for extreme liability events.

Hiscox Re and ILS reported a profit of £25.5mn ($35.8mn) in 2017, a drop of 83.6 percent on a year earlier, the company said on Monday.

MultiStrat has announced that it has completed a $28mn casualty linked securities (CLS) deal covering high-frequency and low-severity casualty business for a $14bn alternative asset manager.

XL Group shares jumped 12.5 percent yesterday after a Bloomberg report said the Bermuda-based (re)insurer was drawing takeover interest from Allianz and possibly others.

Los Angeles-based modelling company Praedicat has announced it has raised $6mn to develop latency catastrophe models for emerging casualty risk..

Renaissance Re has made a minority investment in run-off specialist Catalina, it confirmed in a press release yesterday.

A group of sidecars tracked by Trading Risk took losses of 13.0 percent on average between July and October as the fallout from hurricanes Harvey, Irma and Maria took its toll

Nephila has provided seed capital for Volante Global, the super managing general agency (MGA) set up by ex-Dual CEO Talbir Bains, which will start writing next year, sister publication The Insurance Insider reported.

Guy Carpenter chairman and reinsurance industry heavyweight Britt Newhouse is set to retire at the end of the year, sister publication The Insurance Insider revealed.

Markel will be seeking to recruit a new a chief reinsurance officer to oversee its ceded reinsurance after managing director of reinsurance Robert Blazer leaves the specialty carrier, sister publication The Insurance Insider reported.

Axis Capital has named Steve Arora as the new CEO of Axis Re, replacing Jay Nichols who resigned earlier this year.

JLT Re North America CEO Ed Hochberg has said the scale of insured losses from Hurricane Maria could result in ILS investors changing their view of risk and return.