Results
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The storm brought a lot of rain, but the Floridian doesn’t provide flood insurance. -
The CEO cited ‘no change’ in appetite from a shift in the capital mix.
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Fee income at the Re & ILS division grew by 58% to $44.3mn in H1.
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Geico more than tripled underwriting profits.
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Insurance Insider ILS reported in June that the company had bought substantial ILW coverage.
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Total pre-tax cat losses for the quarter grew sixfold YoY to $135mn.
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Nephila’s income rose steeply owing to changes in its funds’ product mix.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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The firm also posted a 56% increase in fee income.
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Losses from mid-sized nat cats added 9.9 points to the P&C combined ratio.
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The deal announced in its Q2 results came as the carrier agreed a take-private deal.
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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
