Stocks
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The company’s overall operating income was down 24% to $907mn.
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Repeated pelting from smaller cat losses presents a host of challenges for carriers.
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The US property carrier remains exposed to severe weather losses, the agency said.
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Hannover Re's K sidecar includes exposure to the aviation market, but overall ILS participation in such risks is limited. -
“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
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Hurricane Delta triggered the carrier’s aggregate reinsurance programme.
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The reinsurance CEO says Swiss Re will cut back its US casualty share.
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The firm’s fourth annual issuance brings the total volume of cat bond lite deals this year to $250.54mn.
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Sources estimate that 70%-85% of subrogation recoveries are already complete.
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The $622mn agreement is just 10 cents a share higher than Enstar's $31.00-per-share proposal.
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CEO Hanbury hails an “unprecedented opportunity” as prices rise.
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The La Vie Re deal is the first standalone extreme mortality bond since the start of the Covid-19 pandemic and includes coverage for the disease.
