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The carrier’s Florida reinsurance tower’s top layers comprise a total of $450mn in Class A Sanders Re cat bond coverage. -
The firm’s PML on its Southeast wind business has increased after Northshore Re coverage was not renewed at 1 July.
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The floods struck New Zealand’s North Island between 27 January and 2 February 2023.
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The carrier had renewed its catastrophe XoL private market reinsurance for its property business, effective June 1.
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Issues with faked letters of credit are not limited to one banking provider, sources said.
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The firm earned higher fees off the back of growth in insurance premiums ceded to reinsurers, as premiums ceded to third-party capital partners declined.
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The embattled ILS platform took the decision in an attempt to reassure its trading partners.
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The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.
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Risers and fallers emerge within peer group of larger ILS firms, with Twelve Capital and Pillar the fastest growing in H1.
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The executive said that the company reduced its consolidated retention and ceded premium ratio for its 2023 and 2024 treaty program.
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WTW is quietly sounding out market executives for a potential relaunch into reinsurance once its two-year non-compete agreement with Gallagher Re ends in December, this publication can reveal.
