Stocks

The new platform connects holders of long-tail insurance risks with investment funds.

But the reinsurer will likely retain its independence, experts say.

The volume of ILS issued in Bermuda was $24.8bn, representing almost three-quarters of $33.3bn of outstanding capacity.

The Floridian insurer expects losses from Hurricane Florence, other third quarter catastrophes and development on prior 2018 catastrophes to push Q3 claims up to $35mn.

Ryan Specialty Group (RSG) is targeting a first-quarter 2019 launch for its mooted rated reinsurer, sister publication The Insurance Insider reported.

ILS managers and investors are exploring options for investing in Lloyd’s corporate member vehicles, a market that is more traditionally dominated by trade and Names capital.

Modelling firms have put an average $3.8bn loss estimate on private market claims from Hurricane Florence.

The US flood market has traditionally been the domain of the publicly backed National Flood Insurance Program (NFIP).

TimesSquare Capital management considers RenRe’s stock to be undervalued, according to the Wall Street Journal.

An estimated 70,800 claims are projected as a result of Hurricane Irma, the state-backed insurer said.

The buyback will reduce the volume of outstanding 2018-issued C shares by 0.2 percent.

MMC said a “substantial portion” of the $250mn synergies that it expects the tie-up to generate will come from job cuts.