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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 legacy carrier still sees opportunities for large deals through such arrangements. -
Widespread data theft from an email provider ranked as the most likely significant loss scenario in a report by the broker and analytics platform.
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Continental reinsurers and Lloyd’s pulled back use of collateralised retro but overall reinsurance use of ILS retro rose from 2015 to 2018.
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The InsurTech firm began as an MGA but has raised capital to set up a Demotech rated entity.
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Insurers can target at least a 2 percent to 5 percent improvement in loss ratios across a range of business lines with use of advanced analytics, according to the report.
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Since the 2017 and 2018 California wildfires reinsurers have become increasingly cautious of the risk, the rating agency said.
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The Fort Lauderdale-based insurer has struck an agreement with Capital Returns Management which will require it to add two new members to its board and schedule an annual shareholder meeting.
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The insurer bought a $325mn cover for the Caribbean and Hawaii as well as retro for Validus Re.
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The aggregate recoveries were part of A$589mn overall losses ceded by the insurer to its reinsurers in the past year.
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The insurer’s Q2 earnings of $0.81 per share slightly missed analyst expectations.
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The insurer reported $17.7mn of income from sidecar investors and MGAs.
