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A 30-mile westward shift in the path of Hurricane Matthew could have pushed up insurance losses from the storm ten-fold, Validus CEO Ed Noonan said on a quarterly earnings call
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Guy Carpenter's CEO of Europe, the Middle East and Africa, Nick Frankland, is leaving the broking house after more than a decade, sister publication The Insurance Insider reported.
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Validus reported a 49 percent year-on-year increase in Q3 income earned from its AlphaCat asset management platform, due to higher fee income and profits from its stake in the vehicle's higher-risk ILS strategies.
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Nephila portfolio manager David Long is standing down from the Bermudian firm at the end of the year, Trading Risk can reveal
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Australia's Future Fund confirmed that it had added a second manager to its reinsurance portfolio, saying this gave it the potential to increase its exposure in the future
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Average ILS returns reached 1.03 percent in September on the Eurekahedge ILS Advisers Index, in the strongest monthly performance in the past two years
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Everest Re said it could bear a net fourth quarter loss of between $75mn and $200mn from Hurricane Matthew, based on a modelled industry loss of $3bn-$9bn, which it could absorb within quarterly earnings
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Regular cat bond sponsor USAA is offering a new Residential Re issuance with a target size of $280mn, making the deal its largest per-occurrence ILS transaction in recent years.
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Everest Re reported a 36 percent year-on-year increase in Q3 after-tax operating profit of $273.2mn as its underwriting results benefitted from a light catastrophe quarter.
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A small shift in introducing new reinsurance risk transfer could have a significant impact on the market, panellists said during Guy Carpenter's Reinsurance Symposium in Baden Baden over the weekend.
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The Credit Suisse-backed Arcus Syndicate 1856 has appointed Katie Higgon as an underwriter.
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Nephila Capital is set to become the cornerstone capital provider for a start-up Lloyd's syndicate led by former Cathedral Capital CEO Peter Scales, Trading Risk can report
