Stocks
-
The vehicle is the first sidecar launched in Singapore and will cover regional risks.
-
Aggregate retro capacity has “reduced enormously” but rate increases were less severe than some had feared, the Willis Re international chairman said. -
Net assets across the manager’s interval and high-yield reinsurance funds totalled $3.82bn at 31 October, down 31% from a year earlier.
-
The identity of Phoenix Re’s cedant and the type of transaction remains unclear.
-
Defence costs are expected to remain elevated, as weather losses have also weighed on results.
-
The initial $55.1mn bond is slightly above the equivalent December 2019 issuance.
-
The deal is the latest in a slew of recent blank check listings this year.
-
A recent stress test found that Bermudian carriers pared back their reliance on reinsurance since 2018.
-
Other key hires include Marc Bearman as head of specialty for marine and energy and Andrew Smith as CRO.
-
Shares in the Australian carrier slumped 12% following the disclosure.
-
HCI is offering $5.2mn in stock plus up to $3.1mn cash for the portfolio.
-
Fellow founder Will Thorne will take over the leadership responsibilities and manage its second fund.
