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The carrier launched the retrocessional ILS fund this month with Andrew Barnard as CEO. -
Markel and a new venture from ex RenRe exec Eklund are also tapping up investors.
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Participants predicted the rate pressure that has been centred on Japan and Florida would have a broader spill-over next year.
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The potential for insured catastrophe losses has increased at an “exponential” rate since the 1970s, the broker said in a report.
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If reinsurance markets continue to be squeezed by higher retro rates, will this drive more fundamental repricing in underlying business?
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The reinsurer announced it is looking at setting up a separate balance sheet to write risk on behalf of third-party investors.
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The CEO was speaking as Aon launched a new auction platform in Monte Carlo.
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Andrew Barnard will serve as Lodgepine CEO with two other Markel staff, Jamie Welsby and John Duda, joining as key executives.
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The legacy carrier still sees opportunities for large deals through such arrangements.
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A sidecar arrangement would allow the company to finance larger acquisitions, it said
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Reinsurance conditions began moving in investors’ favour in mid-year 2019, marking a delayed reaction to 2017-2018 losses.
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The new Alternative Capital Partners entity unites the resources and capabilities of both teams, Swiss Re said.
