Stocks

The firm said its maximum no-loss return was 30 percent, up from 23 percent in 2018.

The private equity firm has brought in Mark Cloutier as CEO.

Florida insurers can benefit from outsourcing risk to reinsurers, but their ability to absorb excess losses from major hurricanes is a risk factor.

John Doucette, president and CEO of reinsurance at parent company Everest Re, said the company had shrunk its January catastrophe portfolio.

People moves in the industry in the past month.

The reinsurer said it had had to pay an increase on its loss-hit aggregate retro cover.

Most investors in Markel Catco are expected to take up an offer to redeem their shares, as the platform further increased its loss reserves for 2017 events and had its value written down to zero by parent company Markel.

The Merion Square ILS fund launched by Rewire Securities and Vida Capital will have the flexibility to invest in a wide variety of insurance instruments covering risks ranging from natural catastrophe to mortality to cyber, CEO Stefano Sola said.

Arguably the single biggest challenge to face reinsurers attempting to attract third-party ILS capital is nothing to do with engaging in fundraising, estimating monthly valuations, or any of the operational facets of asset management.

Allianz will participate in Pimco’s new ILS business both as an underwriter and an investor in its ILS funds, a spokesperson said.

The carrier predicts P&C rates will increase in the double digits in both Japan and the US later this year.

The increase represents a 4 percent deterioration to its 2017 annual loss, pushing it out to 61 percent.