Sidecars

Hurricane Ian’s legacy will undoubtedly lead to some shake-ups in the ILS sector, with ongoing progression outside cat and ESG strategies likely to be a focus.

The transaction across two tranches is offering higher multiples compared to the 2021 Mona Lisa issuance, with pricing on the aggregate layer almost 80% up despite carrying a lower risk level.

The vehicle offers attachment points of $500mn and above for global property and downstream energy risks.

Mt Logan ceded $68mn of premiums to Everest Re in the three months leading up to 30 September – down 41% compared to Q3 2021.

Baltesar worked for Hiscox Re and ILS before joining Credit Suisse ILS in 2019.

The broker said clients can move fast in a harder market but need time to review quotes.

Outrigger Re will write a quota share of Ark’s Bermuda property treaty book.

The manager received a mandate from a new investor who had taken the call to come in ahead of Hurricane Ian.

The reinsurer flagged changes will be made to its retro programme in 2023 after cutting its cat book and as the retro market has hardened.

Hannover Re said that it expected its total gross Ian losses to be slightly below EUR400mn.

The carrier also offered assurances on the strength of its reserving to combat inflation.

The broker-dealer said it would continue focusing on secondary trading activities.