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The ratings agency affirmed its rating on Resolute Global Partners’ Bermuda platform, noting its exposure to aviation war risks. -
The regulator has proposed several changes to enhance the regime for insurance special purpose vehicles which, in turn, could boost the UK ILS market.
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The vehicle was supported by a group of institutional investors.
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They will join the team led by Stefano Sola to bolster Vesttoo’s alternative investment products.
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Beyond pandemic exclusions, there has been a mixed response to changing ILS terms after the trapping issues.
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With reinsurance availability scarce and costs rising, several carriers have called an interim halt to new homeowners’ business.
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Major ILS providers active in Florida including Nephila and Aeolus lifted assumed premiums.
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The issuance will be fronted by Hannover Re with an initial attachment level of $2.2bn.
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The bond will provide cover against named storms in the US.
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The hire of the senior Horseshoe executive follows two earlier ones, as Bryce Wojciechowski and Alex Staab joined as analysts.
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The carrier has shared insurance and reinsurance risk with ILS partners in the past, but the ILS team reports to Axis Re CEO Steve Arora.
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Thunderstorms in the US and an earthquake in Japan caused minimal losses to ILS.
