Commercial auto

As ILS players such as Vesttoo seek to grow beyond cat risk, Trading Risk looks at some of the questions surrounding how casualty ILS deals will operate and the amount of risk transfer undertaken to date.

The company also said it expects a $408mn reserve charge, including $275mn related to personal auto and $91mn recorded for commercial auto.

The projections are slightly worse than they were three months ago, as heightened cat losses and Covid-related pressures impact rates.

ILS Capital Management has backed the launch of a new InsurTech incubator, Mltply, which will offer fronting and reinsurance capacity to start-ups as well as venture capital and infrastructure support.

ILS Capital has invested seed capital in start-up InsurTech provider Pouch, which provides auto coverage for small businesses.

The tally so far comes in far below the broker’s year-ago estimate of $80bn for a twelve-month lockdown.

Covid-19 claims could make the year the most expensive on record, the broker warns.

The deal will give Buckle access to Gateway’s 47 US state insurance licences.

The broker's total insured loss estimate spanned $11bn to $140bn, depending on the recovery from Covid-19.

Scor posted a fourth-quarter operating loss of EUR29mn ($31.7mn) for its P&C unit, which was almost two thirds down on the prior-year quarter’s loss.

The fund has cut back in retro but plans US insurance expansion.

Social inflation is not just a Florida issue – it's also top of mind in the casualty market.