Stocks
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The country’s government indicated in March that it was considering sponsoring a catastrophe bond.
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FedNat took $18.7mn of net losses from a hail storm in Florida in March.
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The insurer has increased its ultimate net loss for the 2017 storm by 7 percent. -
The DaVinci Re result drove net income from $29.9mn in the first quarter of 2018 to $70.2mn at the end of Q1 this year.
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UPC Insurance halved the amount of reinsurance limit it will seek from the open market to $808mn, after opting for more state fund and quota share cover.
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Mt Logan Re's asset base is stable at $1.05bn.
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Premiums written by the Sompo International-owned vehicle were down 56.8 percent on the same quarter a year ago.
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The gains were partially offset by the costs associated with Markel Catco.
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The aggregated 2018 results of 23 carriers showed a significant improvement in underwriting profit.
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Catastrophe losses increased $1.5mn quarter over quarter, to $5.5mn.
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This is the platform’s first deal to be issued since Rewire Securities, which brokered the previous Eclipse deals, stopped functioning as an independent broker-dealer.
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The carrier completed 17 legacy acquisitions and reinsurance deals in 2018.
