Sidecars

CEO Luca Albertini said the proposals it had submitted were not a straightforward example of “syndicate in a box” or “follow-form” syndicates.

The reinsurer announced it is looking at setting up a separate balance sheet to write risk on behalf of third-party investors.

The legacy carrier still sees opportunities for large deals through such arrangements.

A sidecar arrangement would allow the company to finance larger acquisitions, it said

Aon Securities CEO Paul Schultz has predicted that growth will return to the ILS market in the second half of the year after it dropped by $5bn year on year to 30 June.

Jeff Fraser was assistant vice president of cat pricing at the insurer before joining the ILS start-up.

The tone of discussions when the hurricane had a projected Florida landfall highlights the precarious nature of the reinsurance market’s current stability. 

Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.

Markel and Pimco updated the market on their ILS plans.

Sidecar sponsors may turn more to the private market in 2020 and face continued pressure on terms as capacity is expected to remain tight for pro rata support, according to experts.

The handful of reinsurers to disclose third-party fee income lifted this source of earnings by almost a third year on year in the second quarter.

People moves in the ILS market September 2019.