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Many commercial risks will have London coverage, but insured values are relatively low. -
CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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The syndicate is expected to write ~$300mn of business in 2026.
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Operating revenues were also up on the $29.1mn reported over Q2.
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O’Donnell believes RenRe is well positioned to produce longer-tail risk to third-party investors.
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Third-party investors made a net income of $415mn in the quarter.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
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So far this year, there have been 11 first-time sponsors to place a deal.
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Competition on price from traditional markets is weighing on bond market momentum.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The insurer of last resort’s exposure was $696bn as of last September.
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The bond will provide protection against US wind with a PCS trigger.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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The cedant’s current deal is due to mature at the end of January 2026.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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Spreads on USAA’s latest deal priced below comparative issuances in 2023-2024.
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Investor interest is warming up following a colder spell over the past several years.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The executive is charged with defrauding investors out of nearly $500mn.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
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Mory Katz joined the broker earlier this year.
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The carrier will continue to write assumed retro in Bermuda.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The funds will combine credit and ILS holdings.
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Ryan Saul will work at Ledger’s broker-dealer subsidiary Ledger Capital Markets.
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The hire is the hedge fund manager’s third ILS appointment in the past year.
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Key topics include private ILS growth prospects and the longevity of longtail interest.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Newsom has yet to sign a pending bill to create a public cat model.
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
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A cat-focused vehicle is “the missing piece” of Hannover Re’s ILS offerings, said Silke Sehm.
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The allocation is around 3% of the fund’s total assets.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Toh joins from Nephila, where he spent the last decade, bringing expertise in ILS.
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The alternative asset manager was founded in 2021 with offices in London, New York and Abu Dhabi.
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Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors.
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Sources have said $1bn+ of fresh capital from the region is expected to be deployed in 2026.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Improved performance and growing investment returns played a role in the upgrade.
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The business has been ~70% owned by White Mountains since January 2024.
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The executive has worked at Aon for almost two decades.
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The figure comprises 5.48% of insurance discount margin and 3.96% of risk-free rate.
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The facility will initially focus on US, Bermudian and European business.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Pricing has hit historically soft market lows, based on secondary market pricing.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Bellal Rahman joins from Catalina Life Re, where he was head of finance for two years.
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The manager’s largest ILS holding is in the cat-bond-heavy High Yield fund.
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Cat bonds have outpaced the returns on private strategies in the year to date.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The new Verisk SCS model is increasing expected losses on aggregate bonds.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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The tropical cyclone is expected to be named Imelda.
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In the new role, Edward Johnson will be rejoining former Aon Securities colleague Chris Parry.
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The Bermuda firm said HS Sawmill reflected its continued focus on life insurance.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The ILS services specialist has worked in the ILS market in Bermuda for 10 years.
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Charles Mixon joined the firm a year ago in a business development role.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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The resource was developed by leading ILS managers and investors.
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The major storm is set to move on to mainland China later in the week.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The economic loss from the event was around EUR7.6bn.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Samild held multiple roles including head of alternatives at the Future Fund.
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The CEA had $19.3bn of claim-paying capacity as of 31 July.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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Axa IM’s acquisition by BNP Paribas was confirmed in July this year.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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ILS executives talked pricing, capacity and opportunities in casualty at an ILS roundtable in Monte Carlo.
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The market has learned lessons from earlier soft market phases that it will apply now.
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Losses were primarily driven by personal property lines.
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The tech firm is building a joint stock company with insurers and investors.
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Nick Fallon is the latest in a string of retro-broker moves in the market.
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Victory Pioneer Cat Bond Fund also added assets in the past month.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Arch set up Bermuda investment manager Arch Fund Management in February.
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The syndicate is targeting capital allocation for 1 January, the company confirmed.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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Scott Cobon's most recent title was MD, insurance management services.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The figure comprises 6.07% of insurance discount margin and 4.15% of risk-free rate.
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He added that Munich Re does not rely on retro or third-party.
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Hannover Re Capital Partners is in talks with two investors for 1 January launch.
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The sponsor extended two notes issued in 2022.
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It is understood that CyberCube has been considering a sale of the business.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The volume of property cat aggregates placed grew 50% in 2025.
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The vehicle will be capitalised by an asset manager with more than $100bn in AuM.
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The target allocation to Munich Re, Elementum and the run-off AlphaCat funds fell in the year to 30 June 2025.
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Bohm has held senior roles at BMS, Swiss Re and Aon during his career.
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The trend for private credit in alternative asset management is “set to continue”.
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The capital supported sidecar-style syndicates and reinsurance start-ups.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The investment bank had stopped offering ILS services last September.
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The data modeling firm said losses previously averaged $132bn annually.
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The agency noted inflows to cat bond funds and investor interest in private ILS.
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Competition from cat bonds in the top layers of programmes applied downward pressure on reinsurance pricing in 2025.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Funds encompassing private ILS outperformed cat bond strategies in July.
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The global specialty player is also exploring ILS offerings across specialty and cat bonds.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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Market participants have until 13 October to provide any comments.
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A trend towards higher-risk ILW bonds helped keep yields in double-digits despite softer rates.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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Aspen Capital Markets earned $169mn in fee income in 2024 alone.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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The purchase brings Sompo an established ILS platform as part of the deal.
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Last year marked the second consecutive year in which carriers made a positive return.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
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The group claims the White House is undermining disaster preparedness.
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Benjamin Baltesar spent more than six years at Euler ILS.
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The reinsurer’s capacity is hugely important to ILS firms, with few alternative providers.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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This is the latest in a string of appointments made by the firm’s ILS unit.
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The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.
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ILS accounted for 2.5% of the pension fund’s total AuM.
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Aaron Garcia will hold a senior role at the operation, sources have confirmed.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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The vehicle will support Platinum Specialty Underwriters, XPT Group’s MGA underwriting unit.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The P&C division booked a combined ratio of 81.1% for the first half of 2025.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The estimate covers property and vehicle claims.
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The ILS manager revised down slightly its forecast for the syndicate’s 2023 YOA.
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The reinsurer plans to repeat its 2025 purchasing for property and specialty protections.
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The firm booked net losses from the LA wildfires of EUR615.1mn in the first half.
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ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
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Both organisations still predict an above-average hurricane season.
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The Florida carrier said ceded premiums will rise slightly to $106mn in Q3.
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The reinsurer’s chair said cat pricing reductions are at a “miniscule level”.
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Aspen’s gross premium cession ratio grew 7.1 percentage points to 42.2%.
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The sidecar took $19mn of cat losses relating to the California wildfires.
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The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
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The forecast has increased since the early July update due to several additional factors.
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The Texas insurer of last resort previously had to have funding for a 1-in-100 year storm.
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Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The unit said capital in the ILS market remains more than adequate to meet rising demand.
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California wildfires account for $40bn of the insured loss tally in H1.
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The company also purchased $15mn of SCS parametric coverage.
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In Q2 last year, Everest ceded $26mn in losses to Mt Logan.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Investors are drawing lessons from life deals to find new routes into insurance markets.
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The ILS Advisers Fund Index reported a profit of 1.11% in June.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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Markel announced the sale of its global reinsurance renewal rights to Nationwide.
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Nationwide will delegate management of the policies to Ryan Specialty.
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The broker has noted that double-digit reductions are increasingly available in property.
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Amid $17bn of new deals, cat bond activity included aggregate and cascading structures.
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The firm attributed a 9% drop in reinsurance NWP partly to higher cession rates.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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This brings the carrier’s total limit on the program to $1.8bn.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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Matthew Flynn joins from RenaissanceRe.
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The bond will provide protection on an industry-loss basis, as reported by PCS.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The merged business of Twelve Securis ranked third among ILS managers for AuM, behind Fermat and RenRe.
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The figure updates an April estimate of EUR696mn.
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At least 14 new companies have opened up shop in the state in recent years.
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Cat bond broking growth contributed to 6% organic growth in reinsurance.
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Brian Hickey joins the firm from PE specialist AE Industrial Partners.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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Reserve releases helped to recapture deferred fees.
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The consultation period around UK ISPVs was opened in November last year.
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George Cantlay will also assume the additional position of president of the Bermuda business.
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The reinsurer returned $216.7mn to investors in Q2.
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The proposed reforms are designed to put the UK’s regulatory framework on par with Bermuda and the US.
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CFO Christoph Jurecka will succeed as management board chair.
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He replaces Andrew Hughes, who held the role since 2021.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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Canio spent over 19 years with PGGM, with nine of those managing ILS.
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The firm reported a net pre-tax cat loss of $414mn from January’s LA wildfires.
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Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
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Cat bonds remain attractive for investors seeking risk-adjusted return and diversification.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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Matthew Towsey has spent 14 years at Aon.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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US events accounted for more than 90% of global insured losses.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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State legislation has led to major strides in rate adequacy.
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We discuss progress in collateral management with our Outstanding Contributor winner.
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Category 4 and 5 storms could become more common and hit further north.
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Former ILS lead Matt Holland left the company in May.
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He had spent 10 years at Securis, with seven of them as COO.
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In the US, the index fell 6.7% year on year.
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Despite predicting fewer hurricanes, the numbers are still above average.
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His last role was ILW practice leader at Acrisure Re.
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The weather-modelling agency is predicting a below-normal season.
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The fund was renamed from the Pioneer Cat Bond Fund.
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The total yield was 11.03% as of 27 June, including 4.3% of risk-free rate.
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The recommended “AIF lite” structure could be suited to cat bond lites.
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The Diversified Alternative Fund’s allocation to cat bonds was up by 31% from $386mn at 31 January.
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The Bermudian ILS manager has recently changed its name from Mereo Advisors.
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The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.
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This comes in at the lower end of the initial spread guidance of 725-775 bps.
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The investment consultancy said yields increased in Q2 by less than could have been expected.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The Cayman Islands-domiciled SPI now has four institutional backers.
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Property cat-focused sidecar capital was up by approximately 10% in H1.
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The company said the reduction was due to years of steady improvements.
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Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The sidecars will provide capacity for reinsurers and large insurance carriers.
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Initial responses to ESMA’s report welcomed the long timeframes for any changes.
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The third-party capital manager is a new entrant to the retro space.
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Weighted average multiples were down as sponsors capitalised on demand to push spreads lower.
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The measure could have landed insurers with extra tax on US business.
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The total return for the Swiss Re Global Cat Bond Index stood at 0.61% for the month.
-
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A group of Bermuda staff also left the broker.
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The body said cat bonds are closer to an insurance product than a security.
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Michael Hamer recognised for his work with investors and on reporting frameworks.
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The awards celebration took place at the Hilton Bankside on 25 June.
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Twelve Securis is now a challenger for the top spot on the Insurance Insider ILS leaderboard.
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The bond is split across a Series 1 and Series 2 structure, with eight notes in total.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
-
Everest Re increased the targeted size of Kilimanjaro Re across all four classes of notes.
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The pensions scheme’s existing ILS holdings to Aeolus and HSCM are in run-off.
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M&A and shifts in distribution arrangements bring risks and opportunities.
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The fund lists Twelve, Swiss Re and Cambridge Associates as managers.
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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Pricing on all classes of notes are being offered at the bottom of the guided range.
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AuM in GAIA Cat Bond Fund had grown to $3.9bn as of 31 May.
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PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
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The California Earthquake Authority upsized its Ursa Re deal by 60% to $400mn.
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Buyers have turned to retro markets for covers where ILW pricing is less attractive.
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The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection.
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Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
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John Kulik will work within Ledger’s broking team, Ledger Investing.
-
In April, the loss modeller pegged losses at A$2.57bn.
-
The documents figure in a potential criminal case against a CCB employee.
-
The Bermuda-based team is led by John Fletcher.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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Investors eyeing private ILS include opportunistic allocators keeping watch on storm season.
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Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
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The sidecar renewed at $230mn for 2025.
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The pension plan noted in June 2024 that it was exploring new options in ILS.
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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
-
The loss has decreased by 0.3% since the company’s third assessment.
-
The number has expanded by around 40% from an earlier update, sources said.
-
The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The executive has 15 years of experience in meteorology and cat analytics.
-
The investment is a response to shifts in stock-bond correlations.
-
The fund was set up 18 months ago by cat bond investor Florian Steiger.
-
William Soares moves from casualty and specialty CUO to president.
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Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
-
She was previously head of investor relations and business development for North America and Australia at Securis.
-
HCI secured three towers with $3.5bn in XoL coverage.
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This followed a $650mn fall in April, after management change of the fund.
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David Baldwin joins from EIRS where he was a senior reinsurance consultant.
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Lyon joins the reinsurance broker from law firm Skadden, Arps, Slate, Meagher & Flom.
