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Mark Shumway joins from Howden Capital Markets, where he has been managing director since 2020. -
The IOP will be integrated into the Open Protocol reporting template.
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Bernard Opoku will replace Jeff Sangster as CFO effective 1 October.
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Hannover Re’s Bermuda-based reinsurance transformer Kaith Re has issued a new $15mn private cat bond, a Bermuda Stock Exchange filing confirms.
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Losses from the Maui wildfire include a modest amount of reinsurance recoveries from the Per Risk reinsurance program, while losses from Hurricane Idalia were fully retained.
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Hiscox and Aeolus are looking to capitalise on strong investor appetite for cat bonds this year with their respective fund launches.
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The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.
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Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.
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A challenge facing the industry in the years to come is the question of how can it move through a rotation of its investor base to capture the growth opportunities that have arisen.
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Competition at the upper layers of reinsurance towers could lead to the creation of ‘riskier’ cat bonds, said Swiss Re Capital Markets.
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Prabis does not envisage market softening at this stage, for reasons including wider macroeconomic impacts.
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The sidecar has been launched alongside partner Stone Point Credit Adviser.
