-
This is the first cat bond deal from the corporate sponsor, a logistics specialist.
-
Spreads on the deal’s two reinsurance layers will be at the upper and lower end of coupons Allstate has offered on the cat bond market.
-
Increasing cat costs will drive the focus on modelling and price adequacy, the intermediary said. -
-
Louisiana Citizens Property Insurance had booked $439mn in Hurricane Ida losses by 30 September, implying the disaster will nearly wipe out five of its six traditional reinsurance layers and two cat bond tranches, according to Q3 financials updated on its website this month.
-
The Berkshire Hathaway-owned carrier is looking to make “major contributions” to the region.
-
The four major European reinsurers reported strongly improved results in the first nine months of 2021, despite the heavy toll of catastrophe claims, according to analysis from Fitch.
-
Ardonagh’s reinsurance business Inver Re has hired former Howden executive Nick Griffiths as a director.
-
Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.
-
Zurich’s cat losses for the first nine months are around $1.5bn, suggesting a lower-than expected contribution from Bernd and Ida which implies the firm may have triggered its aggregate reinsurance coverage, according to analysts.
-
Climate change is likely to have already driven up insured losses from hurricanes by 11%, and could raise annual windstorm losses by an additional 10-19%, according to the latest white paper from Karen Clark & Co (KCC).
-
Lockton Re has hired James Boon from Aon to work as a senior broker in the expansive non-marine retrocession and property specialty division.
