Stocks

The Bermudian fund bought £280,000 of shares in the Lloyd’s investment platform.

Fairfax has entered into an agreement with the Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (Omers), where each of them will acquire a 4.995% stake in Odyssey Group for an aggregate cash consideration of $900mn.

United Insurance holdings (UPC Insurance) reported net catastrophe losses of $37.0mn in Q3 2021, down from $140.0mn for the prior-year quarter, after action to significantly reduce gross and net catastrophe exposure during the past year led to a “materially reduced” hurricane loss.

FedNat transferred $562mn of its $599mn gross catastrophe losses to reinsurers in the third quarter, company executives said on an earnings call.

The Canadian pension plan Ontario Teachers’ will support three Lloyd’s syndicates – CFC, Beazley and Beat – via its initial deal.

Storm losses were down 30% to $13mn, but the prior-year result had benefitted from a one-off gain.

Munich Re CFO Christoph Jurecka reaffirmed the carrier’s commitment to cat business and revealed an expectation of further price increases in 2022.

The carrier will put its Maison Insurance operations into run-off.

Eclipse Re has issued a series of large private ILS issuances across four tranches totalling $277.2mn, significantly boosting year-to-date volumes, Bermuda Stock Exchange filings show.

AIG has disclosed that AlphaCat’s AuM was $3.5bn as of 30 September, down by $300mn from the $3.8bn reported for Q1 2021, and 17% from $4.2bn a year ago.

The investor cited legal releases bound up in the offer as an obstacle.

The carrier revised its cat bill following Ida and PG&E losses.