Collateralised reinsurance

The transaction replaces an expiring $160mn deal issued in 2016.

The Markel subsidiary is under investigation into the accounting of loss reserves for 2017 and 2018.

Sussex Capital UK PCC will be able to write collateralised reinsurance deals for numerous cedants.

ILS Capital Management has taken a minority stake in US insurer Producers National, the firm told Trading Risk.

Tokio Millennium Re’s agreed sale to RenaissanceRe will open up an opportunity for competitors to enter the fronting market.

ILS market participants said there are various ways to manage loss creep in a collateralised reinsurance framework.

The Florida insurer said it had no concerns about collateral availability to meet Irma claims.

Former Marsh broker Richard Green has joined as regional head of the alternative risk transfer business.

In a keynote address at the Trading Risk Rendez-Vous in New York, Daniel Brookman said the (re)insurer of the future will be “large, global and present”.

Collateralised reinsurance was not designed to perform exactly as traditional reinsurance, according to speakers at the ILS Bermuda 2018 conference.

Alternative reinsurance capital increased by 17 percent to $88bn by year-end 2017, despite last year’s catastrophe losses, Willis Re has said in its latest Reinsurance Market Report.