Sidecars

The CEO and president said he expects to shrink the portfolio for retro-focussed sidecar Upsilon.

Performance declined at the reinsurer’s third-party ventures owing to Q3’s big cat events.

The two parties had previously negotiated a $9bn deal for the reinsurer last year, which was later scrapped.

The broker forecast ‘continuing growth momentum’ in the ILS market.

Cat losses have highlighted the importance of modelling for secondary perils, but there is room for optimism in the industry, panellists said at Trading Risk’s London ILS event.

Daniel Butzbaugh will work at the company’s New York office and lead its cat and industry loss warranty transactions.

The new generation of vehicles is driven by a lively legacy market and innovations in structuring deals for long-tail risk.

The state body supporting earthquake cover has seen risk transfer requirements swell over the past decade.

The Zurich-based ILS manager expects to be underwriting some specialty business from 2022.

The convergence of traditional reinsurance and ILS has seen reinsurers’ fee income rocket over the past three years.

The lack of modelling expertise for higher-frequency, secondary ‘all peril’-type losses is putting a rosier tint on catastrophe bonds

Retro rates were in some cases falling by mid-year, ahead of the recent losses.