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farhin lilywala/farhin lilywala ii ils.png

Farhin Lilywala

Section Editor, Distribution & Specialty
Contact
  • email

Farhin Lilywala started her career as a high yield and distressed debt reporter before joining the ranks of Insurance Insider US. She is currently Section Editor, Distribution and Specialty. She writes about the specialty market, MGAs, the Florida homeowners’ market, InsurTechs and a little bit of everything in between.

Published by this author:

  • Legacy
    everest.png
    Everest strikes $1.2bn ADC with Stone Ridge’s Longtail Re
    The legacy cover will backstop policies written by its North American insurance business.
    Farhin Lilywala, 28 October 2025
  • M&A
    Bamboo-2025.png
    Homeowners' MGA Bamboo nears $1.75bn sale to CVC
    The business has been ~70% owned by White Mountains since January 2024.
    Adam McNestrie, 03 October 2025
  • Florida
    Florida-2024.png
    Reinsurers flex capacity in Florida with top layer rates under most pressure
    As with 2024, pricing pressure has been most acute on top layers.
    Jai Singh, 20 May 2025
  • Commercial Lines
    american coastal logo.png
    American Coastal’s 2025-2026 reinsurance program mostly placed: CEO Martz
    The carrier’s estimated first event limit could increase 16%, to $1.35bn.
    Farhin Lilywala, 08 May 2025
  • Sidecars
    david paulsson.png
    MGA-linked sidecars will draw capital for sustained absolute returns: Paulsson
    An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
    Liz Bury, 22 April 2025
  • Sidecars
    Ryan Specialty 3D Glass Icon.jpg
    Ryan Specialty Underwriting Managers targeting ~$300mn global sidecar
    The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
    Liz Bury, 27 March 2025
  • Florida
    nasdaq new york stock exchange nyse stock markets .png
    Florida’s American Integrity gears up for potential IPO
    The insurer has lined up Piper Sandler and KBW to run the process.
    Jairo Ibarra, 26 March 2025
  • Florida
    st petersburg florida.png
    Florida: Demand, resilience, LA spillover will all be talking points
    Several Florida start-ups are poised to begin writing business this year.
    Fiona Robertson, 24 February 2025
  • Specialty lines
    cayman-islands-generic-from-pixabay-eismannhans.jpeg
    HP Re assumes Elementum portfolios for $44mn
    In June 2023, Hale Partnership got its license from the Cayman Islands Monetary Authority for HP Re.
    Farhin Lilywala, 06 January 2025
  • Florida
    Florida State Capitol in Tallahassee
    Opinion: Florida capital raising environment not in the clear yet
    Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
    Farhin Lilywala, 18 September 2024
  • slide logo.jpg
    HO InsurTech Slide sets analyst meeting for possible $200mn-$400mn H2 IPO
    A Q3 listing remains a possibility, but the timeline can change rapidly amid storm season.
    Jairo Ibarra, 02 August 2024
  • Vacation Beach Houses in St. Augustine, Florida
    Slide aiming for $200mn-$400mn IPO within the next year
    Sources said that while a late June-early July IPO is still on the table, a Q4 or early 2025 listing is expected.
    Jairo Ibarra, 28 May 2024
  • Florida sign welcome to florida 2.jpg
    Capital caution drives tighter final stage Florida reinsurance renewals
    Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
    Farhin Lilywala, 28 May 2024
  • florida map pin 2024.png
    Florida reinsurance supply outpaces demand as top layer rates cut
    Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
    Farhin Lilywala, 09 May 2024
  • Universal_results.png
    Universal ‘seeing more entrants coming into the market’: CEO Donaghy
    The carrier has completed its 2024-25 reinsurance renewal.
    Farhin Lilywala, 26 April 2024
  • texas flag downtown Austin Texas .jpg
    Berkshire Hathaway takes up $400mn+ of Twia’s newly placed limit
    This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
    Farhin Lilywala, 21 March 2024
  • Florida-2024.png
    Florida reinsurance demand to rise as take-out success continues
    Sources are expecting multi-billion new limit to be placed.
    Farhin Lilywala, 12 March 2024
  • Hurricane Ian money.jpg
    American Integrity 2024 IPO plans paused amid mounting Ian losses
    Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
    Jairo Ibarra, 28 February 2024
  • Tampa Florida Skyline
    HCI Group subsidiary TypTap hits $1bn premium as Citizens depop picks up pace
    More policies were removed through depopulation in Citizens this year than the previous seven years combined.
    Shelby Rosenberg, 20 December 2023
  • Slide logo tampa.jpg
    Slide acquires renewal rights for 86,000 Farmers policies
    Farmers’ agents in Florida will be offered an appointment with Slide. Renewals issued by Slide will begin for February 2024 effective dates.
    Farhin Lilywala, 13 October 2023
  • clear blue logo boardroom.png
    Clear Blue and subsidiaries record nearly $50mn in reinsurance charges
    The company also said that it has secured the replacement of all reinsurance on its ongoing portfolio of business through third-party reinsurers and an affiliated reinsurer.
    Farhin Lilywala, 11 September 2023
  • coastalstormflooding
    Slide’s Idalia claims coming in lower than expected: CEO Lucas
    Out of the roughly 88 claims received so far, some were storm surge claims that are not covered by the carrier, according to the executive.
    Farhin Lilywala, 01 September 2023
  • Idalia 29 aug 23 1446.jpg
    Hurricane Idalia: The best worst-case scenario for Florida’s insurance market
    With Hurricane Idalia’s landfall underway loss estimates are uncertain, but sources noted that the storm’s trajectory shows it taking the best path to impact minimal insured values in Florida.
    Farhin Lilywala, 30 August 2023
  • tropical storm idalia satellite 28 aug 23.jpg
    Big Bend Idalia landfall would be a retention event for Florida insurers
    If the storm steers clear of Tampa, reinsurers will be well placed for minimal losses, but a retention loss is a further blow for weak Floridians.
    Farhin Lilywala, 29 August 2023
  • vesttoo logo Boardroom.jpg
    Vesttoo’s 2022 revenues spiked 267% to $110mn: Interim CEO Barlev
    The company's Ebitda for 2022 was estimated at $60mn compared to $20mn in 2021.
    Farhin Lilywala, 21 August 2023
  • Hippo logo with McCathron.jpg
    Hippo pauses writing new business across the US
    Sources added that the company will continue to monitor portfolio performance to reopen business on a state-by-state basis.
    Farhin Lilywala, 16 August 2023
  • Vesttoo logo Tel Aviv Israel new 2021.jpg
    Fronting carriers suggest premium funds will mitigate Vesttoo exposure 
    Fronting companies typically hold premiums in reserve meaning that credit exposure to letters of credit on Vesttoo transactions should only be required in the event of deteriorating losses.
    Fiona Robertson, 19 July 2023
  • Citizens logo palm trees storm.jpg
    Nephila grew its Florida Citizens treaty line by 68% in 2023
    Citizens has disclosed that Nephila Capital increased its exposure to the carrier’s reinsurance program by 68% to a total $756mn line.
    Farhin Lilywala, 11 July 2023
  • hurricane-dorian-2-sept-pa-45007892.jpg
    CSU increases 2023 hurricane forecast to 'above average' activity
    In its update, CSU now predicts 18 named storms, including the four that have already formed, nine hurricanes and four major hurricanes.
    Farhin Lilywala, 07 July 2023
  • victor logo fundraise.jpg
    Victor secures $102.5mn surplus notes from Gallatin Point to fund reciprocal
    The reciprocal’s purpose is to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC.
    Farhin Lilywala, 26 June 2023
  • Welcome to Florida sign with palm trees in background
    Florida treaty renewal fills up early as rates leap 30%-40%
    Early private deals have provided far more stability in this year’s renewal than last.
    Rachel Dalton, 26 May 2023
  • Citizens logo Tallahassee Florida graph background.jpg
    Citizens board of governors approves $675mn budget for 2023-24 risk transfer program
    The board also approved a PLA 2023 line of credit, which provides up to $1.25bn in liquidity.
    Farhin Lilywala, 16 May 2023
  • Florida sign welcome to florida 2.jpg
    Berkshire Hathaway offers $1bn line on Florida Citizens reinsurance program
    Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.
    Farhin Lilywala, 12 May 2023
  • Gated community houses with palms, South Florida
    Reinsurers set for ‘rate on rate’ gain in Florida renewal
    The pace of rate hikes will ease back from the 1 January reset as buyers seek to lock up capacity early after last year’s dislocated renewal.
    Farhin Lilywala, 10 May 2023
  • Universal Insurance Fort Lauderdale stock market.jpg
    Universal property cat reinsurance tower for 2023-24 secured: CEO Donaghy
    The carrier’s combined ratio totaled 100%, up 2.1 points from Q1 2022, reflecting a higher net loss ratio, partially offset by a lower net expense ratio.
    Farhin Lilywala, 28 April 2023
  • citizens logo houses.jpg
    Florida Citizens seeks average rate hikes of 14.2%
    The recommendations await approval from the Florida Office of Insurance Regulation.
    Farhin Lilywala, 30 March 2023
  • Exterior state capitol building in Florida .jpg
    Florida Senate passes tort reform bill, moving it to DeSantis
    On Thursday, the bill passed 23-15 in Florida's Senate, after passing the House last week.
    Farhin Lilywala, 24 March 2023
  • Corvus logo London.jpg
    InsurTech MGA Corvus eyes third-party capital raise with Nomura
    It is understood that the company has mandated Nomura to raise the risk capital.
    Giovanna Bellotti Azevedo, 24 March 2023
  • Welcome to Florida sign with palm trees in background
    Yaworsky confirmed as Florida's permanent insurance commissioner
    Yaworsky has served as interim insurance commissioner since being nominated by Governor Ron DeSantis last month.
    Farhin Lilywala, 13 March 2023
  • HCI Group logo Tampa Florida.jpg
    HCI revises Ian loss estimate down 15% to $825mn: CFO Harmsworth
    The company also expects the overall decrease in loss expenses due to the recent Florida legislation to be on the lower end of 25%-40%.
    Farhin Lilywala, 10 March 2023
  • Hurricane Ian satellite 27 sep 22 noaa 13.34.jpg
    American Coastal’s Ian loss may develop favourably: CFO
    The Florida insurer recognised a major increase in Ian losses in Q4, rendering its personal lines carrier insolvent.
    Farhin Lilywala, 03 March 2023
  • Universal Insurance Fort Lauderdale with Donaghy v2.jpg
    Universal placed 83% of first-event cat tower: CEO Donaghy
    The carrier reported a Q4 combined ratio of 101.4%, an improvement of 30 points year-on-year, driven by a 27-point reduction in its loss ratio.
    Farhin Lilywala, 24 February 2023
  • Slide logo tampa.jpg
    Slide takes over 72,000 UPC policies, expanding further in Florida
    The transaction provides relief for policyholders and agents, but especially for those policyholders whose policies expire past UPC’s June 1 deadline.
    Farhin Lilywala, 01 February 2023
  • louisiana-capitol.jpg
    Louisiana special session targets capacity constraints amid high cat losses
    Following recent hurricanes, more than 610,000 residential property claims were filed in the state.
    Farhin Lilywala, 30 January 2023
  • wr-berkley-greenwich-ct-with-berkley.jpg
    WR Berkley ‘put more than a toe in the water’ for cat reinsurance at 1.1: CEO
    Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
    Farhin Lilywala, 27 January 2023
  • Travelers.jpg
    Travelers to take 20% quota share of Fidelis book: CFO Frey
    The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.
    Farhin Lilywala, 24 January 2023
  • louisiana-capitol.jpg
    Possible special session to take place in Louisiana
    Louisiana governor John Bel Edwards, state insurance commissioner Jim Donelon, and legislative leadership are in discussions about a potential special session.
    Farhin Lilywala, 20 January 2023
  • Citizens logo Tallahassee Florida.jpg
    Citizens CEO Gilway to retire before 2023 Florida legislative session
    No dates have been set, but it is expected that he will retire before the 2023 Florida state legislative session in March.
    Farhin Lilywala, 22 December 2022
  • Fundraise dollar cyber.jpg
    FG Financial Group forms reinsurance sidecar
    FGF is a reinsurance and asset management holding company focused on collateralised and loss capped reinsurance and merchant banking.
    Farhin Lilywala, 21 December 2022
  • Ark_lloyds_logo_london_2021.png
    White Mountains, Aquiline and Enstar back Ark sidecar Outrigger Re
    TigerRisk Capital Markets & Advisory acted as exclusive structuring and placement agent for the reinsurance sidecar.
    Farhin Lilywala, 21 December 2022
  • David Altmaier .jpg
    Florida Insurance Commissioner Altmaier resigns
    The announcement comes on the helm of both houses of the Florida legislature passing the proposed overhaul of the state's property insurance market.
    Farhin Lilywala, 19 December 2022
  • Ron DeSantis 2022.jpg
    Florida Governor DeSantis signs property overhaul bill into law
    The legislature met for a special session this week, discussing key concerns in the state's property insurance market.
    Farhin Lilywala, 16 December 2022
  • Florida capitol clouds.jpg
    Florida property bill passes House of Representatives
    On Tuesday, the bill passed in the State Senate 27-13, and today's passage in the House represented an 84-33 party line split.
    Farhin Lilywala, 14 December 2022
  • Figure Justice holding the scales of justice with lawyer working on documents
    Florida special session at first blush: Part legislation, part execution
    The bill under discussion tackles key concerns like eliminating one-way attorney fees and getting rid of the state’s controversial assignment of benefits right.
    Farhin Lilywala, 13 December 2022
  • AM Best Florida.jpg
    Early 2022 Florida legislation was ‘slightly positive’ but more help is needed: AM Best
    The upcoming special session, which will take place from December 12 to 16, will need to consider how to make Florida attractive to national insurers and reinsurers.
    Farhin Lilywala, 08 December 2022
  • upc-insurance-logo-pic.jpg
    UPC placed under administrative supervision, run-off plan approved
    In late August, UPC signaled that it will pull out of personal lines in Florida, Texas, Louisiana and New York.
    Farhin Lilywala, 08 December 2022
  • Florida Capitol building v2.jpg
    Florida legislature formally convenes special session aimed at tort reform
    The special session comes as the Florida market braces itself for the effects of the anticipated reinsurance market hardening, potential regional insolvencies and the dearth of private capital.
    Farhin Lilywala, 07 December 2022
  • florida capitol storm3.jpg
    Florida’s second special session in 2022: Another overhaul ahead?
    The state’s lawmakers will meet on December 12-16 to address the challenges facing its troubled property insurance market.
    Farhin Lilywala, 02 December 2022
  • Citizens logo Tallahassee Florida.jpg
    Citizens estimates $62.5mn in gross losses from Hurricane Nicole
    The CEO emphasized that the estimate is a modeled estimate and does not include litigation or inflationary pressures.
    Farhin Lilywala, 16 November 2022
  • Florida sign welcome to florida 2.jpg
    Nicole revives Florida reform urgency as ailing domestic carriers face surplus erosion
    Expanded state reinsurance support and legal reforms will be top priorities as Florida insurers face another retention loss.
    Farhin Lilywala, 11 November 2022
  • upc-insurance-logo-pic.jpg
    UPC’s Ian losses close to exhausting personal lines reinsurance tower
    Hurricane Ian losses at United Insurance Holdings (UPC) Insurance have nearly reached the top of its personal lines reinsurance tower, company executives said on its earnings call.
    Farhin Lilywala, 10 November 2022
  • Heritage Insurance logo storm surge.jpg
    Heritage discloses $32mn maximum second-event retention for Nicole
    Over $20mn, the company's reinsurance cover is roughly 40 cents on the dollar, depending on the severity of the storm.
    Farhin Lilywala, 09 November 2022
  • Heritage Insurance logo without bar jt.jpg
    Ian pushes Heritage CoR up by 21 points to 133.3% in Q3
    The Floridian's net loss ratio jumped nearly 18 points to 97.6%, driven by a $40mn retention from Ian and slightly lower net earned premium than the prior-year quarter.
    Farhin Lilywala, 08 November 2022
  • kin.jpg
    HSCM among backers for Kin $145mn facility
    Around $100mn of the facility was funded at close, with the remaining funds available in two tranches as the company reaches certain agreed-upon milestones.
    Farhin Lilywala, 31 October 2022
  • Universal Insurance Fort Lauderdale with Donaghy.jpg
    Hurricane Ian severity lower than first seen in Irma: Universal CEO Donaghy
    The executive added that while the Florida market has seen benefits from recent legislation, the major issue remaining is one-way attorney fees.
    Farhin Lilywala, 28 October 2022
  • Universal Insurance Fort Lauderdale 2.jpg
    Universal CoR worsens almost 41 points to 139.2% in Q3 absorbing impact from Ian
    The Floridian's loss ratio increased 42.8 points, reflecting $111mn of retained Hurricane Ian losses and a higher attritional initial accident year loss pick.
    Farhin Lilywala, 27 October 2022
  • Hurricane Ian damage florida.jpg
    Florida Cat Fund expects $10bn Ian loss as it stresses its ability to raise debt
    The projected Ian loss is $2.2bn higher than the state reinsurer took from Hurricane Irma in 2017.
    Fiona Robertson, 26 October 2022
  • Massive destruction on Fort Myers Beach aftermath Hurricane Ian
    NICB identifies nearly half a million claims related to Hurricane Ian
    Nearly two-thirds of the Florida claims are homeowners and business claims (272,465), and the remaining are personal automobile claims (151,892).
    Farhin Lilywala, 24 October 2022
  • Palomar logo storm damage hurricane.jpg
    Palomar estimates pre-tax cat losses of $12.5mn in Q3 2022
    The estimate anticipates a full retention loss of $12.5mn from Hurricane Ian.
    Farhin Lilywala, 21 October 2022
  • cincinnati financial cinfin logo storm damage.jpg
    CinFin estimates pre-tax cat losses of $252mn in Q3 2022
    The insurer said the estimate represents a 13.9-point impact on its Q3 combined ratio based on earned premiums.
    Farhin Lilywala, 20 October 2022
  • ren_re_renaissance_bermuda_logo_2022.png
    RenRe estimates net negative impact of $650mn from cat losses in Q3 2022
    The estimate is driven by $540mn of losses attributable to Hurricane Ian.
    Farhin Lilywala, 19 October 2022
  • citizens-property-insurance.jpg
    Citizens lowers Ian-related claims estimate to 100,000, loss estimate unchanged
    The state-backed insurer's claims tally was just over 47,000 this morning.
    Farhin Lilywala, 14 October 2022
  • Heritage Insurance logo storm surge.jpg
    Heritage expects $40mn net losses from Hurricane Ian
    So far, the company has received nearly 12,000 claims associated with the storm.
    Farhin Lilywala, 13 October 2022
  • upc-insurance-logo-pic.jpg
    UPC projects $1bn in Ian losses, $16mn in reinstatement premiums
    The insurer has received roughly 19,000 claims to date and estimates it will receive 27,000 to 30,000 claims.
    Farhin Lilywala, 12 October 2022
  • Universal Insurance logo palm trees florida storm.jpg
    Universal receives 18,000 Ian claims, estimates $1bn gross loss
    The company estimates its overall gross loss to be approximately $1bn, below its $3bn overall reinsurance tower.
    Farhin Lilywala, 11 October 2022
  • RMS hurricane satellite background.jpg
    RMS pegs Hurricane Ian loss estimate at $53bn-$74bn
    The risk modeler estimated the NFIP could take $10bn additional losses from storm surge and inland flooding.
    Farhin Lilywala, 07 October 2022
  • Hurricane Ian damage florida.jpg
    Security First expects $300mn gross Ian loss
    The carrier has under 3% market share in Florida homeowners’ business in 2021.
    Farhin Lilywala, 07 October 2022
  • CoreLogic logo hurricane ian damage.jpg
    CoreLogic updates total Ian damage estimate to $41bn-$70bn with uninsured flood losses up
    The estimate includes wind loss, re-evaluated insured and uninsured storm surge loss and newly calculated inland flood loss for residential and commercial properties.
    Farhin Lilywala, 07 October 2022
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