Stocks

It has raised a preliminary $54.6mn of debt for the vehicle, which provided $300mn of limit last year.

The vehicle is a PGGM investment with Munich Re, complementing the latter's Eden sidecar.

Markel Catco’s listed Reinsurance Opportunities Fund posted November gains of 0.8 percent and 1.3 percent respectively for its ordinary and class C shares issued in 2018.

The main disrupted segments are still aggregate retro and sidecar vehicles, where negotiations over the level of trapped capital have held up the renewal process.

Cat specialists RenaissanceRe and Everest Re took the highest proportional hit to equity from the Q3 disaster losses, which resulted in an average cost equivalent to 1.7 percent of shareholders’ equity.

Hong Kong announced its intention to enter the ILS space last year, indicating it would allow SPVs to be set up in the territory.

Despite early fears that the storm could rival last year’s Jebi in losses, expectations are converging around the $10bn level.

Arthur Jones succeeds Alastair Barbour who in February indicated his intention to retire from the board towards the end of this year.

The agreement would provide JP Morgan with equity in Scor in the event of a major disaster, or if the carrier’s share price falls below EUR10 in the next three years.

As part of the deal, 1347 PIH received five-year rights of first refusal to provide reinsurance on up to 7.5 percent of FedNat’s catastrophe reinsurance programme.

Artex reserved for an 8 percent loss to the $18mn aggregate retro transaction, a BSX note said

The carrier's Sector Re sidecar has now reached roughly $1bn in size.