MGAs/MGUs
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Victor has significant ties to the ILS space, having launched the Nephila-backed Alternus distribution facility in 2017. -
Peak Re will continue to provide capacity.
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Munich Re, Swiss Re and Renaissance Re are among the reinsurers to back a host of US MGAs in new deals.
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Former Verto Syndicate underwriter Peter Mills hope to raise quota share support for his planned treaty MGA.
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A sidecar arrangement would allow the company to finance larger acquisitions, it said
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The firm was previously reported as being in the process of tapping the ILS market for capital to support its underwriting portfolio.
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The carrier reported it will absorb $17mn in gross catastrophe losses from Q2.
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ILS participants have speculated that the syndicate in a box may be one avenue they can use to access Lloyd’s.
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Recent hire Andrew Souter is believed to be leading the evolution in the company’s capital sourcing and structure.
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The creation of AIG Re combines all of the US insurance giant’s assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty.
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Cohen & Company’s head of US insurance strategies sees ILS opportunities from the new venture and wider business.
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The firm's chief commercial lines underwriter has left, as it separately announced expansion into North Carolina and New York.
