Stocks
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ILS managers have pioneered externally managed rated carriers, but have done so with cost-consciousness in mind. -
The MGA is seeking to double premium from $1.5bn over the next four to five years.
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The WR Berkley vehicle takes a 30% share of its reinsurance placements.
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The biggest increases came from North American hurricane and earthquake coverage, where retentions rose from $350mn to $600mn.
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The insured losses include those to private insurers as well as to the Turkish Catastrophe Insurance Pool.
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Should reinsurers retain the option of playing in ILS, or take a ‘go hard or go home’ approach?
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The carrier has increased its full-year perils cost estimate to A$1.15bn.
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The reinsurer’s combined ratio fell to 87.8% in Q4 2022, improving 4 points against the prior-year quarter.
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The Bermudian reported $15mn in catastrophe losses for the quarter, down from $125mn in the same period last year.
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The reinsurer’s overall retro programme increased by 56% as its whole-account and cat swaps also grew.
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The carrier said it achieved average risk-adjusted price increases of 30% on cat business.
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Early evidence is leading the (re)insurance market to hope the storm can avoid the development curve of its 2017 predecessor Hurricane Irma.
