Re/insurers

CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.

The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.

The cedant’s current deal is due to mature at the end of January 2026.

It is understood around $1bn of premiums could be ceded to the proposed vehicle.

Improved performance and growing investment returns played a role in the upgrade.

Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.

The tropical cyclone is expected to be named Imelda.

Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.

Vantage Group Holdings received a BBB- long-term issuer credit rating.

Arch set up Bermuda investment manager Arch Fund Management in February.

The syndicate is targeting capital allocation for 1 January, the company confirmed.

The volume of property cat aggregates placed grew 50% in 2025.

The ratings agency warned negative PYD on US casualty will likely continue.

The global specialty player is also exploring ILS offerings across specialty and cat bonds.

After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.

The purchase brings Sompo an established ILS platform as part of the deal.

The group claims the White House is undermining disaster preparedness.

The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.

The vehicle will support Platinum Specialty Underwriters, XPT Group’s MGA underwriting unit.

American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.

The estimate covers property and vehicle claims.

The firm booked net losses from the LA wildfires of EUR615.1mn in the first half.

Both organisations still predict an above-average hurricane season.

Aspen’s gross premium cession ratio grew 7.1 percentage points to 42.2%.

The Texas insurer of last resort previously had to have funding for a 1-in-100 year storm.

In Q2 last year, Everest ceded $26mn in losses to Mt Logan.

The new team will be headed by Brown & Brown’s Ed Byrns.

The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.

The vehicle will support Ascot’s casualty business in the US and Bermuda.

The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.

This brings the carrier’s total limit on the program to $1.8bn.

The consultation period around UK ISPVs was opened in November last year.

The reinsurer returned $216.7mn to investors in Q2.

The proposed reforms are designed to put the UK’s regulatory framework on par with Bermuda and the US.

The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.

The suit claims billions of dollars are being illegally withheld.

The US accounted for 92% of all global insured losses for the period.

Despite predicting fewer hurricanes, the numbers are still above average.

Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.

The bond protects against losses in the US, Canada, Europe and Australia.

Berkshire Hathaway lost market share but remained the largest traditional reinsurer, our study shows.

The revision is significantly lower than the $4.5bn October estimate.

Former Aviva and AIA CEO Mark Wilson will lead the new initiative.

The carrier’s estimated first event limit could increase 16%, to $1.35bn.

The (re)insurer used alternative capital in the reinsurance coverage.

Gallagher Re said rates had softened in 2025 versus the prior two years.

CEO Thierry Léger expects overall P&C pricing to be “stable” through 2025.

The deal will provide named Florida storm protection on an indemnity, per occurrence basis.

There’s not much supply in that marketplace, Papadopoulo said.

The carrier is offering shares priced at $29-$31.

The storm made landfall in Queensland, Australia at the beginning of March.

Markets have taken a battering across the globe following the “Liberation Day” announcement.

The reinsurer said the probe concerns the alleged involvement of its former chairman.

The bond is being issued through Lloyd’s London Bridge 2 platform.

This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.

The carrier increased premium by 7% at the January renewals.

The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.

Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.

More than 33,000 claims had been filed as of 5 February.

Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.

Programs did not offer adequate risk-adjusted return.

Standards and guidelines address institutional investors’ concerns over valuation risks.

Menzinger succeeds Rowan Douglas, CEO of climate risk & resilience at Howden.

Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.

Most carriers paid more in homeowners’ claims than they collected in premiums.

Price guidance for the bond is 7.00%-7.75%.

The reinsurance attaches at $7bn, unchanged for the past two years.

Prominent Name Dhruv Patel is the firm’s founder.

As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.

Investigators are homing in on the likely causes of the incidents.

This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.

Moody’s also expects losses in the billions of dollars.

Six fires now cover more than 27,000 acres across Southern California.

Over-subscriptions have been evident on well-priced US cat treaties.

The storms struck Victoria, New South Wales and Queensland.

Recoletos Re DAC SPI takes its name from the Paseo de Recoletos boulevard in Madrid.

Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.

The reinsurer said investors were interested in expanding after benefiting from good results.

The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.

The Class A and Class B notes are paying lower multiples than initially guided.

TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.

The bond will provide coverage for named storm across five US states.

The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.

CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.

This is the second time Fidelis has entered the cat bond market this year.

Other capacity supporting the syndicate is mostly individual Names, sources have said.

The estimate includes $102mn from Milton and $114mn Helene development.

The bond is targeting $225mn of limit across the Class A and Class B notes.

The notes provide coverage in the US and District of Columbia but exclude Florida.

The firm recorded a 13.3% nat cat impact to the P&C combined ratio.

Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.

The latest issuance signals the second time the sponsor has entered the cat bond market.

In its first deal, Enstar received $350mn in premium for certain 2019 and 2020 business in AlphaCat’s portfolio.

The firm will provide an update on 22 November to avoid holiday season.

Andrade flagged expected 5% to 10% increases in the US and Europe.

The figures imply first-layer reinsurance recoveries for Helene.

The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.

The pension scheme has been winding down its ILS portfolio in recent years.

Cat bonds, private ILS and retro were all kept at “strongly overweight”.

The multiple offered on the deal is around 2.5x the expected loss.

Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.

A strong forward pipeline will require fast work by ILS investment houses.

The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.

Some Canadian cedants have approached the market for top-up cover.

The ratings agency said comparing companies was complicated by the adoption of IFRS 17 accounting.

Reinsurers continued to diversify into primary and specialty business.

The CEA has $326.4mn towards risk transfer, 44% below budget.

Everest losses ceded to Mt Logan grew by 63% to $26mn.

The CEO cited ‘no change’ in appetite from a shift in the capital mix.

Allocators are waiting for 2024 to pan out, according to Hiscox CEO Aki Hussain.

Fee income at the Re & ILS division grew by 58% to $44.3mn in H1.

The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.

The insurer also pushed up its retention by $650mn.

In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.

The carrier purchased an additional $150mn of cover.

The firm said the move would let it build a multi-vehicle capital management platform.

The backing represents a rare move from a collateralized reinsurer to take on risk in the legacy space.

More than $1bn has entered the sidecar segment in 2024.

The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.

Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.

The model uses machine learning and daily data to forecast hurricane seasons.

Reinsurers are much better placed to absorb cat losses; insurers are carrying more risk.

The Italian hailstorm event in the summer 2023 saw estimated losses nearly triple.

The company increased its full year 2024 adjusted net income guidance.

Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.

The proposals include increasing either statutory or CRTF funds.

The program includes all perils coverage and third-event protection.

Traditional reinsurers such as Berkshire Hathaway and Arch pushed for more share, our annual study of Florida cessions shows.

The carrier reported 1 April price increases of 3.2%.

Rates are still materially higher than pre-pandemic and lower layers are holding firmer.

CFO Christoph Jurecka declined to give a loss estimate for the Baltimore Bridge loss.

Sanders Re cat bond coverage attaches higher than last year at $5.46bn.

The firm said it expects Capital Partners to continue to grow.

Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.

The carrier of last resort is proposing total risk transfer of $5.5bn.

The firm said it was poised to build on ‘significant growth’ in 2023.

Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.

The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.

Chris Parry said the denominator effect remains a suppressant on ILS inflows after a strong phase of returns.

The firm is focusing on developing specialty offerings.

This year, the association’s funding will come to $4.05bn with a $2.45bn retention.

Risk partnerships will now report direct to the board through the CFO.

Pockets of new capital will not shift pricing at mid-year.

The state carrier is moving to redeem its 2022 Everglades issuance a year early.

The carrier is seeking named storm coverage in the state of Texas.

Sources are expecting multi-billion new limit to be placed.

The cat bond will initially cover named storms in Florida and South Carolina.

The cat bond will cover earthquake and named storm events.

Insured losses from the Christmas storms reached $968mn.

The vehicle is 52% larger than it was at launch 3 years ago

Twia’s actuarial and underwriting committee made the recommendation last week.

The Australian insurer will have $1.7bn of core XOL cover this year.

The increase in limit reflects the carrier’s growing exposure.

The Bermudian said its third-party vehicles were “sufficiently capitalised”.

The Medici cat bond fund experienced the largest growth in AuM.

The review followed a methodology change.

The sidecars segment has been attracting inflows after returns hit a high note in 2023.

Improving the speed and efficiency of settlements is required to help the market grow.

The executive joins the company as it looks to bolster its reinsurance capabilities.

Participating insurers would be required to provide all-perils property insurance for residential and commercial policyholders.

In total, insurers paid indemnity of $11bn and loss adjustment expenses of $1.5bn for claims closed in 2022.

GC Securities is the sole structuring agent and sole bookrunner on the deal.

Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.

The deal closed at the top end of the Farm Bureau’s revised target size, having grown from an initial $200mn offering.

Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.

Global cat-bond capacity has grown by about 4% annually over the last six years, according to a report by the Swiss Re Institute.

Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.

Slade was previously president at Markel’s ILS fund manager Lodgepine Capital.

The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.

The amount offered in Class A and B notes has also expanded slightly.

This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.

AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.

Axis set up a new casualty sidecar in the quarter.

E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.

However, most P&C insurers will still miss their cost of capital targets and as a result, rate hardening and capacity constraints are expected to continue into 2024, according to Swiss Re.

The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.

Court filings indicate use of “phony phone numbers” and creation of a “wholly fictitious person” in the letters of credit fraud that has engulfed Vesttoo.

The ratings agency said the reinsurance market was ‘the hardest in decades’ amid tightened terms and conditions as well as increased rates.

Super Typhoon Saola has the potential to be one of the five largest typhoons to land in Guangdong in over 70 years, according to reports.

Mark to market investment losses and decreased capital allocation in high volatility lines are contributing to an ongoing hard market for reinsurance.