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Pricing has settled at the top end of the reinsurer’s original guidance. -
The Bermuda-based InsurTech will deploy a combination of its own and rated paper capital.
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The firm has developed a capability to hedge commodity price risk and was originally backed by Ascot Underwriting.
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The firm aims to build on the origination capability of Fleming Re and Accelerant.
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A BDA report found that more than 30% of Bermudian carriers have integrated ESG into underwriting.
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TransRe is still hoping to raise $175mn from its Bowline Re cat bond for coverage against named storms and earthquakes as it has significantly lifted projected spreads on the transaction, Trading Risk understands.
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The firm reserved $40mn for Ukraine, citing ‘small net losses’ in Re & ILS.
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The carrier posted 6% growth in reinsurance, with primary insurance premiums rising 15%.
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Jefferies has been awarded the mandate to seek a buyer for the segment.
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ABIR is pushing back on behalf of the Bermuda cohort of companies, whose debt is significantly impacted.
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The agency also affirmed the long-term issuer credit ratings of A- (excellent) on Hamilton Re and Hamilton Insurance Designated Activity Company.
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Shanna Lespere joined the BMA in 2004 and has held various roles at the authority including COO for the past seven years.
