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The size of the vehicle was not disclosed.
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The hailstorm has impacted reinsurance covers for Australian carriers.
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The Florida-based carrier renewed aggregate reinsurance covering non-hurricane losses, including a $30mn single-provider deal and a larger $85mn programme. -
The utility is facing scrutiny over its possible role in sparking the blaze, which was the most destructive in California’s history.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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Looking ahead to the rest of the year and 2020, how likely is it that the industry will hold to its resolutions?
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The new vehicle managed to launch amid a challenging fundraising market.
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The insurer has dropped Maiden Re for the quota share arrangement on the $2.9bn book.
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The tsunami which struck Lampung and Banten in Indonesia on Saturday destroyed thousands of homes and commercial buildings, including at least nine hotels.
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Last year’s feast has repeated on the market as Irma losses deteriorated, while fresh wildfires have caught out those who loaded up on liability exposure.
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Have reinsurers become so reliant on cheap retro that the task of writing their inwards portfolios is skewed by this support?
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The carrier’s $1.2bn gross loss from the two wildfires would trigger the carrier’s nationwide programme, which attaches above $500mn.
